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Notes to the consolidated financial statements

32. Subordinated liabilities

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Classification  Balance as at
31 December 2014 		 Balance as at
31 December 2013
   PLN ‘000 PLN ‘000
Financial instruments measured at amortized cost, including:    
      - loans 43,106 43,036
      - bonds 98,984 98,991
Total 142,090 142,027

 

 
On 8 January 2014, the Bank entered into a subordinated loan agreement with Poczta Polska S.A. in the amount of PLN 43 000 thousand. The loan was granted for a term of seven years. At the same time, the parties concluded an arrangement concerning early repayment of the subordinated loan granted by Poczta Polska S.A. under the agreement of 8 July 2011.
On 21 March 2014 the Polish Financial Supervision Authority (KNF) approved classification of cash from a subordinated loan granted by Poczta Polska S.A. under the agreement of 8 January 2014 to Tier 2 capital of the Bank. Moreover, the Polish Financial Supervision Authority approved early repayment of the subordinated loan
granted by Poczta Polska S.A. under the agreement of 8 July 2011 classified to Tier 2 capital of the Bank. Following the approval, funds from the subordinated loan granted by Poczta Polska S.A. under the agreement of 8 July 2011 were repaid by the Bank on 26 March 2014.
 

Balance as at
31 December 2014
Item Par value Interest Maturity Balance of subordinated
liabilities
  PLN ‘000     PLN ‘000
Loans        
Poczta Polska 43,000 WIBOR6M+3.25pp 15 January 2021 43,106
Bonds        
Quoted 47,340 WIBOR6M+3.75pp (by 8 July
2016) WIBOR6M+3.75pp + 1.5pp
(between 9 July 2016 and 8 July
2021)		 8 July 2021 48,714
Quoted 50,000 WIBOR6M+3.50pp 5 October 2022 50,270
Total 140,340     142,090

 

Subordinated bonds are traded on the Over-The-Counter market of the Warsaw Stock Exchange (Catalyst).
 

 

Balance as at
31 December 2013
Item Par value Interest Maturity Balance of subordinated
liabilities
  PLN ‘000     PLN ‘000
Loans        
Poczta Polska 43,000 WIBOR6M+3pp 8 July 2016 43,036
Bonds        
Quoted 47,340 WIBOR6M+3.75pp (by 8 July
2016) WIBOR6M+3.75pp + 1.5pp
(between 9 July 2016 and 8 July
2021)		 8 July 2021 48,707
Quoted 50,000 WIBOR6M+3.50pp 5 October 2022 50,284
Total 140,340     142,027


Subordinated bonds are traded on the Over-The-Counter market of the Warsaw Stock Exchange (Catalyst).

Annual Report 2014 - Bank Pocztowy