REG - Alpha Bank A.E. - 3rd Quarter Results <Origin Href="QuoteRef">ACBr.AT</Origin> - Part 5
30/11/2016 16:40
- Part 5: For the preceding part double click ID:nRSd6020Qd
2,283,915 2,524 (3,569) 2,282,870
Interest expense and similar charges (838,431) 759 (837,672)
Net interest income 1,445,484 2,524 (2,810) 1,445,198
Fee and commission income 286,739 (1,209) (834) 284,696
Commission expense (54,607) 163 423 (54,021)
Net fee and commission income 232,132 (1,046) (411) 230,675
Dividend income 903 (15) 888
Gains less losses on financial transactions 45,369 (354) 45,015
Other income 46,833 (1,838) (86) 44,909
93,105 (1,838) (455) 90,812
Total income 1,770,721 (2,884) 2,524 (3,676) 1,766,685
Staff costs (397,261) 2,061 (395,200)
General administrative expenses (399,239) 2,884 1,643 (394,712)
Depreciation and amortization expenses (78,207) 308 (77,899)
Other expenses (3,775) 160 (3,615)
Total expenses (878,482) 2,884 4,172 (871,426)
Impairment losses and provisions to cover credit risk (2,355,918) (1,838) 423 (2,357,333)
Share of profit/(loss) of associates and joint ventures (9,022) (9,022)
Profit/(Loss) before income tax (1,472,701) - 686 919 (1,471,096)
Income tax 723,309 (111) 723,198
Net profit/(Loss) after income tax (749,392) - 686 808 (747,898)
Net profit/(Loss) after income tax from discontinued activities (88,992) (686) (808) (90,486)
Net profit/(Loss) after income tax (838,384) - - - (838,384)
Profit/(Loss) attributable to:
Equity owners of the Bank
- from continuing activities (749,644) 686 808 (748,150)
- from discontinued activities (88,992) (686) (808) (90,486)
(838,636) - - - (838,636)
Non-controlling interests 252 252
Earnings/(losses) per share:
Basic and diluted earnings/(losses) (0.07) (3.28)
(E per share):
(Amounts in thousands of Euro)
From 1 July to 30.9.2015
Published Amounts Restatements due to changes in the presentation of figures relating to the loyalty Bonus card program Restatements due to finalization of the Bulgaria Branch transfer terms Restatements due to presentation of Alpha Bank A.D. Skopje as discontinued operation Restated amounts
Interest and similar income 758,735 881 (1,185) 758,431
Interest expense and similar charges (270,356) 229 (270,127)
Net interest income 488,379 881 (956) 488,304
Fee and commission income 90,871 (409) (277) 90,185
Commission expense (21,611) 784 153 (20,674)
Net fee and commission income 69,260 375 - (124) 69,511
Dividend income 343 343
Gains less losses on financial transactions 9,116 (63) 9,053
Other income 15,336 (965) (38) 14,333
24,795 (965) - (101) 23,729
Total income 582,434 (590) 881 (1,181) 581,544
Staff costs (132,420) 691 (131,729)
General administrative expenses (158,459) 590 486 (157,383)
Depreciation and amortization expenses (26,461) 99 (26,362)
Other expenses (1,407) (1,407)
Total expenses (318,747) 590 - 1,276 (316,881)
Impairment losses and provisions to cover credit risk (258,731) 240 (258,491)
Share of profit/(loss) of associates and joint ventures (5,035) (5,035)
Profit/(Loss) before income tax (79) - 881 335 1,137
Income tax 413,880 (40) 413,840
Net profit/(Loss) after income tax 413,801 - 881 295 414,977
Net profit/(Loss) after income tax from discontinued activities (102) (881) (295) (1,278)
Net profit/(Loss) after income tax 413,699 - - - 413,699
Profit/(Loss) attributable to:
Equity owners of the Bank
- from continuing activities 413,716 881 295 414,892
- from discontinued activities (102) (881) (295) (1,278)
413,614 - - - 413,614
Non-controlling interests 85 85
Earnings/(losses) per share:
Basic and diluted (E per share): 0.03 1.62
Consolidated Statement of Cash Flows
(Amounts in thousands of Euro)
From 1 January to 30.9.2015
Published Amounts Restatements due to changes in the presentation of figures relating to the loyalty Bonus card program Restatements due to presentation of Alpha Bank A.D. Skopje as discontinued operation Restated amounts
Cash flows from continuing operating activities
Profit/(loss) before income tax (1,472,701) 686 919 (1,471,096)
Adjustments for gain/(losses) before income tax for:
Depreciation/Impairment of fixed assets 44,110 (178) 43,932
Amortization/Impairment of intangible assets 34,098 (131) 33,967
Impairment losses from loans, provisions and staff leaving indemnity 2,406,786 1,838 (660) 2,407,964
(Gains)/losses from investing activities 19,853 19,853
(Gains)/losses from financing activities 49,611 49,611
(Gains)/losses ratio from associates and joint ventures 9,022 9,022
1,090,779 2,524 (50) 1,093,253
Net (increase)/decrease in assets relating to continuing operating activities:
Due from banks 1,245,218 (67) 1,245,151
Trading securities and derivative financial assets 253,590 253,590
Loans and advances to customers (288,919) (2,524) (2,263) (293,706)
Other assets (31,992) (87) (32,079)
Net increase /(decrease) in liabilities relating to continuing operating activities: -
Due to banks 10,261,946 12 10,261,958
Derivative financial liabilities (234,082) (234,082)
Due to customers (12,306,043) 14,064 (12,291,979)
Other liabilities 99,424 270 99,694
Net cash flows from continuing operating activities before taxes 89,921 - 11,879 101,800
Income taxes and other taxes paid (46,347) - (46,347)
Net cash flows from continuing operating activities 43,574 - 11,879 55,453
Net cash flows from discontinued operating activities 12,882 (11,879) 1,003
Cash flows from continuing investing activities
Investments in subsidiaries and associates and joint ventures (12,138) (12,138)
Acquisitions during the period 9,151 9,151
Income from subsidiary disposal 15,392 15,392
Dividends received 903 903
Purchases of fixed and intangible assets (68,501) 46 (68,455)
Disposals of fixed and intangible assets 10,928 10,928
Net (increase)/decrease in investement securities 35,369 (8,524) 26,845
Net cash flows from continuing investing activities (8,896) - (8,478) (17,374)
Net cash flows from discontinued investing activities (382) 8,478 8,096
Cash flows from continuing financing activities
Repayment of debt securities in issue and other borrowed funds (111,077) - (111,077)
(Purchases)/sales of hybrid securities (693) - (693)
Net cash flows from continuing financing activities (111,770) - - (111,770)
Effect of exchange rate differences on cash and cash equivalents 8,865 - 8,865
Net increase/(decrease) in cash flows - continuing activities (68,227) - 3,401 (64,826)
Net increase/(decrease) in cash flows - discontinued activities 12,500 - (3,401) 9,099
Cash and cash equivalents at the beginning of the period 1,194,244 1,194,244
Cash and cash equivalents at the end of the period 1,138,517 1,138,517
During the second quarter of 2016, the Group completed the valuation of the net assets of Asmita Gardens S.R.L., which was
acquired in the second quarter of 2015. The adjustments to the temporary fair values were recognized retrospectively as if
the accounting treatment of the acquisition had been completed at the acquisition date. Therefore on 31.12.2015 the figures
of the Balance Sheet were modified as depicted below:
Consolidated Balance Sheet
(Amounts in thousands of Euro)
31.12.2015
Published Amounts Finalization of the accounting treatment of Asmita Gardens S.R.L. Restated amounts
Assets
Cash and balances with Central Banks 1,730,327 1,730,327
Due from banks 1,976,273 1,976,273
Securities held for trading 2,779 2,779
Derivative financial assets 793,015 793,015
Loans and advances to customers 46,186,116 46,186,116
Investment securities
- Available for sale 5,794,484 5,794,484
- Held to maturity 79,709 79,709
- Loans and receivables 4,289,482 4,289,482
Investments in associates and joint ventures 45,771 45,771
Investment property 623,662 623,662
Property, plant and equipment 860,901 860,901
Goodwill and other intangible assets 342,251 2,900 345,151
Deferred tax assets 4,398,176 4,398,176
Other assets 1,510,225 (1,592) 1,508,633
68,633,171 1,308 68,634,479
Assets held for sale 663,063 663,063
Total Assets 69,296,234 1,308 69,297,542
LIABILITIES
Due to banks 25,115,363 25,115,363
Derivative financial liabilities 1,550,529 1,550,529
Due to customers (including debt securities in issue) 31,434,266 31,434,266
Debt securities in issue and other borrowed funds 400,729 400,729
Liabilities of current income tax and other taxes 38,192 38,192
Deferred tax liabilities 20,852 20,852
Employee defined benefit obligations 108,550 108,550
Other liabilities 910,622 1 910,623
Provisions 296,014 2,444 298,458
59,875,117 2,445 59,877,562
Total Liabilities related to assets held for sale 366,781 366,781
Total Liabilities 60,241,898 2,445 60,244,343
EQUITY
Equity attributable to equity owners of the Bank
Share capital 461,064 461,064
Share premium 10,790,870 10,790,870
Reserves 301,223 (1,137) 300,086
Amounts that were recognized in equity and regard assets held for sale 8,834 8,834
Retained earnings (2,546,885) (2,546,885)
9,015,106 (1,137) 9,013,969
Non-controlling interests 23,998 23,998
Hybrid securities 15,232 15,232
Total Equity 9,054,336 (1,137) 9,053,199
Total Liabilities and Equity 69,296,234 1,308 69,297,542
28. Events after the balance sheet date
a. On 6.10.2016 the Bank has obtained one share of the subsidiary bank Alpha Bank Srbija A.D. without any payment, as a
result of a donation of the minority shareholder. Therefore, the Bank's stake stood at 100%.
b. On 21.10.2016, the subsidiary of the Group, Alpha Astika Akinita A.E. sold all the shares of the company Alpha Astika
Akinita D.O.O.E.L. Skopje for the amount of E 775 thousand (note 19).
c. On 27.10.2016 the Group concluded a definitive agreement for the sale of its shares in Ionian Hotel Enterprises S.A.
("IHE"). The definitive agreement was concluded with Home Holdings S.A., a company owned by Tourism Enterprises of Messinia
S.A. and D-Marine Investments Holding B.V., for the sale of its majority stake (approximately 97.3%) in the share capital
of the Athens Exchange -listed company Ionian Hotel Enterprises S.A. ("IHE"). The completion of the transaction is subject
to approval by the Hellenic Competition Commission and is expected to take place within 2016 (note 25).
Athens, 30 November 2016
THE CHAIRMAN THE MANAGING DIRECTOR THE GENERAL MANAGER THE ACCOUNTING
OF THE BOARD OF DIRECTORS AND CHIEF FINANCIAL OFFICER AND TAX MANAGER
VASILEIOS T. RAPANOSID No ΑΙ 666242 DEMETRIOS P. MANTZOUNISID No Ι 166670 VASILEIOS E. PSALTISID No ΑΙ 666591 MARIANNA D. ANTONIOUID No Χ 694507
This information is provided by RNS
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