Notes to the consolidated financial statements
40. Off-balance seet contingent liabilities
Off-balance seet contingent liabilities granted
Off-balance seet contingent liabilities granted by type |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Financial | 125,543 | 261,402 |
- unused credit lines | 111,666 | 204,504 |
- originated deposit lines | 0 | 40,000 |
- credit card limits | 13,877 | 16,898 |
Guarantees | 49,959 | 47,166 |
- guarantees granted | 49,959 | 47,166 |
Total | 175,502 | 308,568 |
Off-balance seet contingent liabilities granted by maturity |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Financial | 125,543 | 261,402 |
Undetermined maturity | 79,479 | 131,249 |
Up to 1 month | 3,017 | 9,548 |
From 1 to 3 months | 7,964 | 23,828 |
From 3 months to 1 year | 21,034 | 72,709 |
From 1 year to 5 years | 14,049 | 24,068 |
Guarantees | 49,959 | 47,166 |
Up to 1 month | 1,087 | 34 |
From 1 to 3 months | 98 | 22 |
From 3 months to 1 year | 3,564 | 155 |
From 1 year to 5 years | 45,210 | 46,955 |
Total | 175,502 | 308,568 |
The majority of contingent liabilities are credit lines. Guarantees granted and unconditional financial commitments are treated as an exposure bearing credit risk. Assessment of risk resulting from guarantees and unconditional financial commitments is a part of the credit risk assessment process related to other credit products held by the clients, i.e. all credit products, including guarantees, granted to specified obligors are reviewed both for indications of impairment and assessment of impairment losses.
Gross off-balance sheet exposures (credit lines, guarantees) to five key clients in a given year as at 31 December 2014 and 31 December 2013 have been presented below:
Obligor’s name | Balance as at 31 December 2014 |
---|---|
PLN’000 | |
Client 1 | 48,800 |
Client 2 | 12,923 |
Client 3 | 10,832 |
Client 4 | 4,643 |
Client 5 | 1,611 |
Total | 78,809 |
Obligor’s name | Balance as at 31 December 2013 |
---|---|
PLN’000 | |
Client 1 | 73,753 |
Client 2 | 20,736 |
Client 3 | 8,551 |
Client 4 | 6,559 |
Client 5 | 4,100 |
Total | 113,699 |
As at 31 December 2014 the provision for guarantees and financial committments amounted to PLN 631 thousand (as at 31 December 2013 it was PLN 1 125 thousand). Provisions for off-balance sheet liabilities are recognized in balance sheet accounts and presented in Note 32 as “Provisions for off-balance sheet liabilities”.
Off-balance seet contingent liabilities received by type |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Guarantees | 1,235 | 2,970 |
- guarantees received | 1,235 | 2,970 |
Total | 1,235 | 2,970 |
Off-balance seet contingent liabilities received by maturity |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Guarantees | 1,235 |
2,970 |
Up to 1 month | 60 | 0 |
From 1 to 3 months | 234 | 1,458 |
From 3 months to 1 year | 941 | 1,032 |
From 1 year to 5 years | 0 | 357 |
Over 5 years | 0 | 123 |
Total | 1,235 | 2,970 |
The key item of contingent liabilities received is a guarantee received securing the Group's liabilities under office space lease agreement.
Litigation
In 2014, the Group was not a party to any proceedings held before a court or public administration body, whose value would be equal to or higher than 10% percent of the Group’s equity. Any risks related to court or public administration proceedings have been adequately secured with relevant provisions.
The total value of claims related to litigation in which the Group is a defendant, where the probability of losing is estimated by the Group below 50%, was PLN 323 thousand as at 31 December 2014 and PLN 473 thousand as at 31 December 2013, respectively.
Annual Report 2014 - Bank Pocztowy
Corporate Governance
- Corporate governance: principles and scope of application
- Control system in the process of preparing financial statements
- Entity authorized to audit financial statements
- Shareholding structure and share capital
- Key information regarding Poczta Polska S.A.
- Cooperation with Poczta Polska S.A.
- Investor relations
- By-laws amending principles
- Activities of the corporate bodies of the Bank