CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Prepared in accordance with International Financial Reporting Standards as adopted by the European Union
CONTENTS
INDEPENDENT AUDITOR'S REPORT
Consolidated and Separate Statement of Profit or Loss and Other Comprehensive Income 4
Consolidated and Separate Statement of Financial Position 6
Consolidated and Separate Statement of Changes in Equity 7
Consolidated and Separate Statement of Cash Flows 11
Notes to the consolidated and separate Financial Statements
1. | ||
2. | ||
3. | ||
4. | ||
5. | ||
6. | ||
7. | ||
8. | ||
9. | ||
10. | ||
LOSS | 94 | |
11. | NET GAIN/(LOSS) FROM DISPOSAL OF INVESTMENT SECURITIES AT FAIR VALUE | |
THROUGH OTHER COMPREHENSIVE INCOME | 94 | |
12. | OTHER OPERATING INCOME | 95 |
13. | IMPAIRMENT LOSSES ON FINANCIAL ASSETS | 96 |
14. | PERSONNEL EXPENSES | 96 |
15. | ADMINISTRATIVE AND OTHER OPERATING EXPENSES | 97 |
16. | INCOME TAX | 97 |
17. | CASH AND CASH EQUIVALENTS | 102 |
18. | FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS | 105 |
19. | FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH OTHER | |
COMPREHENSIVE INCOME | 106 | |
20. | DUE FROM BANKS | 109 |
21. | LOANS AND ADVANCES TO CUSTOMERS | 110 |
22. | INVESTMENTS IN DEBT INSTRUMENTS AT AMORTIZED COST | 129 |
23. | INVESTMENT PROPERTY | 130 |
24. | NON-CURRENT ASSETS HELD FOR SALE | 131 |
25. | INVESTMENTS IN SUBSIDIARIES | 132 |
26. | OTHER FINANCIAL ASSETS | 132 |
27. | OTHER ASSETS | 136 |
28. | INTANGIBLE ASSETS | 136 |
29. | PROPERTY AND EQUIPMENT | 138 |
30. | DUE TO BANKS | 140 |
31. | CUSTOMER DEPOSITS | 140 |
32. | LOANS FROM BANKS AND OTHER FINANCIAL INSTITUTIONS | 141 |
33. | OTHER FINANCIAL LIABILITIES | 145 |
34. | PROVISIONS | 145 |
35. | OTHER LIABILITIES | 147 |
36. | SUBORDINATED LIABILITIES | 147 |
37. | DEBT SECURITIES IN ISSUE | 148 |
38. | SHARE CAPITAL | 149 |
39. | EARNINGS PER SHARE | 150 |
40. | SEGMENT REPORTING | 151 |
41. | RESERVES | 151 |
42. | NET DEBT RECONCILIATION | 154 |
NET FEE AND COMMISSION INCOME 93 NET GAIN/(LOSS) FROM FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR
REPORTING ENTITY 12
BASIS OF PREPARATION 13
SIGNIFICANT ACCOUNTING POLICIES 17
FINANCIAL RISK MANAGEMENT 39
USE OF ESTIMATES AND JUDGMENTS 70
FAIR VALUE DISCLOSURES 78
PRESENTATION OF FINANCIAL INSTRUMENTS BY MEASUREMENT CATEGORY 86
NET INTEREST INCOME 92
43. | COMMITMENTS AND CONTINGENCIES | 154 |
44. | RELATED PARTY TRANSACTIONS | 159 |
45. | LEASES | 163 |
46. | CORRECTION OF ERRORS | 166 |
47. | SUBSEQUENT EVENTS | 169 |
Thousand RON
Interest and similar income calculated using the effective interest rate
Interest and similar expense Net interest income
Fee and commission income Fee and commission expense
Net fee and commission income
Net gain/(loss) from financial assets at fair value through profit or loss
Net gain/(loss) from disposal of investment securities at fair value through other comprehensiveincome
Net gain/(loss) on derecognition of financial asstes measured at amortised cost
Net gain/(loss) from investment properties
Net gain/(loss) on non-current assetsheld for sale Other operatingincome
Net operating income
Personnel expenses
Administrative and other operating expenses Depreciation and amortization
Operational result before impairment
Impairment losses on financial assets
Operational profit
Profit before tax
Income tax expense for the year Net profit for the period
Pa ge 4 of 169
GroupRestated*Note
31 December 2023
31 December 2022
31 December 2023
Bank
31 December 2022
(170,885) 144,586
8 8 8
(100,408)
148,757
9 9 9
41,090 (6,509) 34,581
37,773 (5,674) 32,099
23 24 12
61 8,884
262 (147)
25,786 24,709
218,388
208,869
14 15 28,29
(82,246) (77,585)
(53,704) (52,853)
(21,327) (20,231)
13
(27,063) (34,855)
34,048 23,345
34,048 23,345
16
275,760 (156,159)
217,519 (89,761)
119,601 127,758
39,153 36,170
(5,388) 33,765
(4,475) 31,695
6,701 7,427
(2,611)
-(1,453) (1,565)
61 8,884
262 (147)
31,023 30,281
197,387
194,295
(73,022) (70,202)
(48,924) (49,388)
(20,479) (19,075)
54,962
55,630
(24,818) (32,490)
30,144 23,140
30,144 23,140
(6,990) 23,154
(2,893) 20,247
Thousand RON
Net profit for the period Other comprehensive income
Items that may be reclassified to profit or loss:
Net gain on debt instrumentsmeasured at FVOCI, transferred to profit or loss
Gain/(loss) from fair valuemeasurementof debtinstruments measured at FVOCI
Variation of expected credit loss related to debt instruments measured at FVOCI
Income tax recorded directly in other comprehensive income
Items that will not be reclassified to profit or loss: Changes in revaluation reserve of property and equipment Income tax recorded directly in other comprehensive income, related to the changes of revaluation reserve
Gain on equity investments measured at FVOCI
Income tax recorded directly in other comprehensive income, related to investments measured at FVOCI
Other comprehensive income, net of tax Comprehensive income
Profit attributable to:
-Equity holders of the parent entity -Non-controlling interests
Profit for the period
Comprehensive income attributable to: -Equity holders of the parent entity -Non-controlling interests Comprehensive income
Earnings per share (basic and diluted)
GroupRestated*
31 December 2023 25,485
31 December 2022
(5,689)
- - 957 (153)
25,485 - 25,485
56,156 - 56,156 0.0078
- (8,686) 0.0059
* The comparative information is restated on account of correction of errors. See note 46.
5,440 - 5,440
Bank
31 December 2023 23,154
(7,427)
42,543 (39,880)
440 (128)
(5,689) 6,401
(857) - (857)
957 1,314
(153) (210)
30,671 (27,920)
53,825 (7,673)
19,234 - 19,234
23,154 - 23,154
53,825 - 53,825 0.0071
The consolidated and separate financial statements were approved by the Board of Directors on the 21nd of March 2024 and were signed on its behalf by:Valentin Vancea General Manager
Pa ge 5 of 169
Georgiana Stanciulescu DeputyGeneral Manager
31 December 2022 20,247
-20,247 - 20,247
(7,673)
- (7,673) 0.0062
CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023
(All amounts are in thousand RON)
Thousand RON
Assets
Cash and cash equivalents
Financial assets at fair value through profit or loss
Financial asset measured at fair value through other comprehensive income
Due from banks
Loans and advances to customers Investments in debt instruments at amortized cost
Investment property Non-current assets held for sale Investment in subsidiaries Other financial assets Other assets Deferred tax assets Intangible assets Property and equipment Total assets
Note
Group Restated* 31 December 2022
17 18 19 20
Bank 31
31
December 2023
December 2022
500,336 537,692 596,803
39,161 19,008
676,316 545,720
5,834 18,726 17,693
259,463 399,038 440,636 118,871 90,358 94,766
24
2,154,954
2,058,585
2,216,935
1,831 -
25
2,150 -
26
7,011
1,665 2,150
- 40,296 36,296
27
16
14,938 18,502 21,930
8,408 13,370 11,595
1,703
28
14,738
29
88,657 4,174,929
93,499 4,282,970
11,965 1,783 13,835
47,005 50,716 47,998
92,895 87,192 91,847
3,931,909
4,033,400
4,157,212
Liabilities Due to banks Customer deposits
Loans from banks and other financial institutions
Other financial liabilities Provisions
Other liabilities Subordinated liabilities Debt securities in issue Total liabilities
Equity
Share capital and equity premiums Merger premium
Treasury shares Accumulated Profit / (Losses) Revaluation reserves Statutorylegal reserve Other reserves
Total equity
Total liabilities and equity
3,443,791 217,870
33
34
35
5,021
4,101
36
3,306,626 3,124,154 3,447,728
99,377 98,918 97,914
70,909 81,002 69,979
11,113 8,694 8,893
3,700 4,370 3,860
94,488
54,558
37
34,897 69,385 44,311
65,193 3,788,342
64,501 3,952,540
64,174 65,193 64,501
3,609,108
38
332,181
332,181
315,833
38
71,097
41
44,698
20,180
41
(7,615)
41
14,678 386,587
14,678 330,430
(1,140) 13,539
33,819 18,472 (9,324)
13,641 16,188 14,681
14,678 14,678 14,678
322,801
4,174,929
4,282,970
3,931,909
* The comparative information is restated on account of correction of errors. See note 46.
182,799
3,634,515
3,812,152
332,181 (67,569)
(5)
84,940 60,418
4,033,400
398,885
345,060 4,157,212
The consolidated and separate financial statements were approved by the Board of Directors on the 21nd of March 2024 and were signed on its behalf by:
Valentin Vancea General Manager
Pa ge 6 of 169
Georgiana Stanciulescu Deputy General Manager
74,966
332,181 (67,569)
(5)
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
(All amounts are in thousand RON)
Group
Thousand RON
Balance at 1 January 2023 Comprehensive income Profit for the period
Other comprehensive income Net gain related to FVOCI debt instruments recycled in profit or loss account
Expected net credit loss related to FVOCI debt instruments Gains/(losses) from the measurement at fair value of debt instruments FVOCI
Net gain from the fair value measurement of FVOCI equity instruments
(38,344)
332,181
(67,569)
(1,140)
-
-
-
370
-
-
-
- - - - 332,181
Changes in the revaluation reserve for property and equipment
Total other comprehensive income
Total comprehensive income
Pa ge 7 of 169
-
- - - - (67,569)
- - - - (1,140)
30,729
-
-
15,197
-
14,678
44,698
-
25,485
-
- - - - 14,678
71,097 386,587
330,430 - 330,430
25,485 - 25,485
-
- 386,587
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
(All amounts are in thousand RON)
Group
Thousand RON
Balance at 1 January 2022 Comprehensive income Profit for the period
Other comprehensive income Expected net credit loss related to FVOCI debt instruments Gains/(losses) from the measurement at fair value of debt instruments FVOCI
Net gain from the fair value measurement of FVOCI equity instruments
Changes in the revaluation reserve for property and equipment Total other comprehensive income
Total comprehensive income Allocation to legal reserve Revaluation reserve realized Other adjustments Transactions with equity holders
Share capital increase
Balance at 31 December 2022
Pa ge 8 of 169
13,641
315,833
(67,569)
(1,140)
-
-
-
-
-
-
-
-
-
-
-
- -
- -
- - -- - -
-
-
-
-
- -
- - -
(5,841)
-
(108)
(33,499)
1,104
-
(32,503)
(32,503)
- - -
39,660
-
-
-
-
-
4,583
4,583 4,583
16,348 332,181
-
-
-- (13,514)
-
-
-
-
-
- -
- 30,729
1,557 - -
14,678
13,539
322,801
- 322,801
-
19,234
19,234 - 19,234
-
-
(108) - (108)
-
-
(33,499)
- (33,499)
-
-
-
-1,104 - 1,104 4,583 - 4,583
- -
- 19,234
(27,920) (8,686)
- (27,920)
-(8,686)
- 15,197
- - -
(1,557) 13,514
(33)
- - (33)
- - -
- - (33)
- 16,348
(67,569)
(1,140)
(38,344)
- 14,678
- 44,698
16,348 330,430
-330,430
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
(All amounts are in thousand RON)
Bank
Thousand RON
Balance at 1 January 2023 Comprehensive income Profit for the period
Other comprehensive income
Net gain related to FVOCI debt instruments recycled in profit or loss account
Expected net credit loss related to FVOCI debt instruments Gains/(losses) from the measurement at fair value of debt instruments FVOCI
Net gain from the fair value measurement of FVOCI equity instruments
Changes in the revaluation reserve for property and equipment
Total other comprehensive income Total comprehensive income Allocation to legal reserve Revaluation reserve realized
Balance at 31 December 2023
Pa ge 9 of 169
Share capital 332,181
Merger premiumTreasury sharesRevaluation reserves for financial assets at
FVOCIRevaluation reserve for premisesStatutory legal reserve 14,681
AccumulatedOther reserves
Profits / (Losses)Total equity
(67,569)
(5)
(38,343)
29,019
14,678 60,418 345,060
- - - - - - -
- - - - - - -
- - - - - - -
(6,239)
- -
- - -
- - -- - -
23,154 23,154
-
-- (6,239)
370 - - - - 370
35,736 - - - - 35,736
804 - - - - 804
-
-
-
-
-
-
- - - - 332,181
- - - - (67,569)
- - - - (5)
30,671 - - - - 30,671
30,671 - - (7,672)
- - (2,875) 26,144
- 1,507 - 16,188
- - - 14,678
23,154 53,825
(1,507) 2,875
- -
84,940 398,885
CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
(All amounts are in thousand RON)
Bank
Thousand RON
Balance at 1 January 2022 Comprehensive income Profit for the period
Other comprehensive income
Expected net credit loss related to FVOCI debt instruments
Gains/(losses) from the measurement at fair value of debt instruments FVOCI
Net gain from the fair value measurement of FVOCI equity instruments
Changes in the revaluation reserve for property and equipment
Total other comprehensive income Total comprehensive income Allocation to legal reserve Revaluation reserve realized Transactions with equity holders Share capital increase
Balance at 31 December 2022
Share capital 315,833
Merger premium
(67,569)
- - - - - -
- - - - - -
- - - - 16,348
- - - - -
332,181 (67,569)
Revaluation reserves for financialTreasury sharesassets at
FVOCIRevaluation reserve for premisesStatutory legal reserve 13,524
AccumulatedOther reserves
Profits / (Losses)
(6)
(5,840)
37,949
14,678 27,816 336,385
- - - - - -
(33,499)
(108)
- -
- - - -
- - - -- - - -
1,104 - - - - 1,104
-
4,583 - - - 4,583
- - - - 1 (5)
- - - (38,343)
(32,503) (32,503)
4,583 4,583 - (13,513)
- 29,019
- 14,681
- - 1,157 -
- - - - - 14,678
The consolidated and separate financial statements were approved by the Board of Directorson the 21nd of March 2024 and were signed on its behalf by:Valentin Vancea General Manager
Pa ge 10 of 169
Georgiana Stanciulescu DeputyGeneral Manager
Total equity
20,247 20,247
- -- (108)
- (33,499)
- (27,920) 20,247 (7,673)
(1,157) 13,513
- -
- 16,348
60,418 345,060
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Patria Bank SA published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 16:42:03 UTC.