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RIETUMU BANK GROUPIndependent auditors’ report and ConsolidatedFinancial Statements prepared in accordancewith International Accounting Standardsand the Bank of Latvia requirementsfor the years ended 31 December 2000 and 1999RIETUMU BANK GROUPTABLE OF CONTENTSPAGESTATEMENT OF THE MANAGEMENT 3THE SUPERVISORY COUNCIL AND BOARD OF DIRECTORS OF THE BANK 4STATEMENT OF RESPONSIBILITY OF THE MANAGEMENT 5INDEPENDENT AUDITORS’ REPORT 6CONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATED BALANCE SHEETS AND MEMORANDUM ITEMS 7-8 STATEMENTS OF PROFIT AND LOSS 9CONSOLIDATED OF CHANGES IN SHAREHOLDERS’ EQUITY 10 STATEMENTS OF CASH FLOWS 11NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 12-372RIETUMU BANK GROUPREPORT OF COUNCIL AND MANAGEMENT BOARD3RIETUMU BANK GROUPTHE COUNCIL AND BOARD OF DIRECTORS OF BANK As of the date of the signing of the financial statements:The Council of Rietumu bank1 January 2000 – 1 January 2001Name Position Date of appointmentLeonid Esterkin Chairman of the Council 15/04/98Arkady Syharenko Deputy Council Chairman 15/04/98Valentin Bluger Member of the Council 15/04/98The Board of Directors1 January 2000 – 1 January 2001Name Position Date of appointmentMichael Bourke Chairman of the Board 11/12/98Natalia Fetisova First Deputy Chairwoman of the Board 11/12/98Rolf Fuls Member of the Board (Vice-president) 11/12/98Alexander Kalinovsky Member of the Board 11/12/98Yevgeny Shikhman Member of the Board (Vice-president) 11/12/98Elena ...

Informations

• Publié par: Tapav
• Nombre de lectures: 57
• Langue: English

Extrait

RIETUMU BANK GROUP

Independent auditors’ report and Consolidated Financial Statements prepared in accordance with International Accounting Standards and the Bank of Latvia requirements for the years ended 31 December 2000 and

1999

RIETUMU BANK GROUP TABLE OF CONTENTS

STATEMENT OF THE MANAGEMENT THE SUPERVISORY COUNCIL AND BOARD OF DIRECTORS OF THE BANK STATEMENT OF RESPONSIBILITY OF THE MANAGEMENT INDEPENDENT AUDITORS’ REPORT CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEETS AND MEMORANDUM ITEMS CONSOLIDATED STATEMENTS OF PROFIT AND LOSS CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY CONSOLIDATED STATEMENTS OF CASH FLOWS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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PAGE 3 4 5 6

7-8 9 10 11 12-37

RIETUMU BANK GROUP REPORT OF COUNCIL AND

MANAGEMENT

BOARD

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RIETUMU BANK GROUP THE COUNCIL AND BOARD OF DIRECTORS OF BANK  

As of the date of the signing of the financial statements: The Council of Rietumu bank 1 January 2000 – 1 January 2001 Name Position Leonid Esterkin Chairman of the Council Arkady Syharenko Deputy Council Chairman Valentin Bluger Member of the Council

Date of appointment 15/04/98 15/04/98 15/04/98

The Board of Directors 1 January 2000 – 1 January 2001 Name Position Date of appointment Michael Bourke Chairman of the Board 11/12/98 Natalia Fetisova First Deputy Chairwoman of the Board 11/12/98 Rolf Fuls Member of the Board (Vice-president) 11/12/98 Alexander Kalinovsky Member of the Board (Vice-president) 11/12/98 Yevgeny Shikhman Member of the Board (Vice-president) 11/12/98 Elena Popova Member of the Board (Vice-president) 27/12/00

Elena Popova became member of the Board on 27 December 2000. There were no other changes in the Board of Directors of the Bank during the period beginning 31 December 2000 through the date of the signing of these financial statements.

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RIETUMU BANK STATEMENT OF

GROUP MANAGAMENT

RESPONSIBILITY

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RIETUMU BANK GROUP CONSOLIDATED BALANCE SHEETS AS OF 31 DECEMBER 2000 AND 1999 (LVL '000)  

AND

MEMORANDUM

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ITEMS

RIETUMU BANK GROUP CONSOLIDATED BALANCE SHEETS AS OF 31 DECEMBER 2000 AND 1999 (LVL '000)  

AND

MEMORANDUM

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ITEMS

RIETUMU BANK CONSOLIDATED FOR THE YEARS (LVL '000)

GROUP STATEMENTS OF PROFIT AND LOSS ENDED 31 DECEMBER 2000 AND 1999

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RIETUMU BANK STATEMENTS OF CHANGES IN SHAREHOLDER’S EQUITY FOR THE YEARS ENDED 31 DECEMBER 2000 AND 1999 (LVL '000)  

Paid-in share capital

As of 31 December 1998 17,409 Net profit for the year - As of 31 December 1999 17,409 Net profit for the year - Transfers (Note 2f) - Revaluation of long-term investments (Note 9) - As of 31 December 2000 17,409

Legal Revalua- reserve tion reserve

16 - 16 - - - 16

901 - 901 - (80) 540 1,361

The accompanying notes are an integral part of the consolidated financial statements.

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Accumula- ted loss

(12,214) 163 (12,051) 3,908 80 - (8,063)

Total shareholders' equity

6,112 163 6,275 3,908 - 540 10,723

RIETUMU BANK GROUP CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED 31 DECEMBER 2000 AND 1999 (LVL '000)  

2000 Group Bank

CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation 4,473 Amortization and depreciation of intangible and tangible fixed assets 628 (Decrease)/increase in provisions for possible credit losses (659) Loss from revaluation of foreign currency positions 110 Gain from sale of fixed assets - (Increase)/decrease in prepayments and accrued income (236) Decrease/(increase) in other assets 2,142 Increase/(decrease) in deferred income and accrued expense 374 Increase/ (decrease) in other liabilities 38 Decrease in provisions for liabilities and charges (25) Increase in cash and cash equivalents from operating activities before changes in assets and liabilities 6,845 (Increase)/decrease in government bonds and other fixed income securities (155) Decrease/(increase) in equity shares and other non-fixed income securities 245 (Increase)/decrease in loans and advances to non-banking customers (478) (Increase)/decrease in term deposits due from other banks (30,383) (Decrease)/increase in term deposits due to other banks (1,213) Increase in deposits from the public 35,934 Increase in cash and cash equivalents from operating activities before taxation 10,795 Taxes paid (25) Net cash and cash equivalents acquired from operating activities 10,770 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of intangible and tangible fixed assets (1,157) Fixed assets sold 30 Sale of equity investments in other entities and other long-term investments, net 81 Decrease in cash and cash equivalents from investing activities (1,046) Increase in cash and cash equivalents 9,724 Cash and cash equivalents at the beginning of the year 34,155 Loss from revaluation of foreign currency positions (110) Cash and cash equivalents at the end of the year 43,769 The accompanying notes are an integral part of the consolidated financial statements.

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3,908 627 (659) 104 - (222) 4,446 355 38 (25) 8,572 (155) 245 852 (30,383) (1,213) 34,531 12,449 - 12,449 (1,125) 30 73 (1,022) 11,427 32,419 (104) 43,742

1999 Group Bank

163 671 2,750 399 (6) 609 (3,207) (190) (26) (18) 1,145 607 (694) 3,709 8,246 3,703 2,059 18,775 - 18,775 (637) 40 16 (581) 18,194 16,360 (399) 34,155

170 671 2,750 399 (6) 628 (3,045) (213) (26) (18) 1,310 607 (694) 3,709 8,246 3,703 169 17,050 - 17,050 (637) 40 5 (592) 16,456 16,360 (399) 32,419