PrivatBank Cyprus profile » Financial statements

Financial statements

PrivatBank Cyprus compiles its financial statements in strict accordance with:
- international standards,
- legislation of Cyprus,
- regulatory and legal acts issued by the Central Bank of Cyprus.

The purpose of the Bank’s financial statements is to provide a wide range of users with accurate and unbiased information on assets, liabilities, equity, cash flows, income and expenses (including profits and losses) and other data.

International Audit
Balance Sheet
Reports

The choice of audit company for bank’s financial audit according to the IFRS is made on the annual basis. Bank’s specialists have a fundamental analysis of the audit conditions, of the "Big Four" companies. The results of the analysis along with management proposals are presented to the Bank’s Supervisory Board.

The Supervisory Board takes a decision that becomes the basis for audit contract for the following year.

The Bank’s international auditor is PricewaterhouseCoopers.

PricewaterhouseCoopers is the world leading professional services supplier, and is one of the companies of the "Big Four".

On an ad hoc basis, PrivatBank also cooperates with PricewaterhouseCoopers on a limited range of advisory services.

Balance Sheet as of December 31, 2013

Item name	Sum
Assets
Funds with the NBU	5,422,818,820.69
Cash funds available	7 300,904,890.92
Funds in nostro accounts	22,520,968,252.46
Interbank loans	3,451,085,732.74
Overdraft loans to legal entities	1,641,075,795.92
Mortgage loans to legal entities	1,209,310,934.56
Loans to legal entities	120,214,223,807.78
Financial leasing to individuals	469,834,275.91
Card loans to individuals	22,390,314,116.88
Mortgage loans to individuals	2,042,537,338.54
Кредити фізичним особам	3 557 162 326.33
Loans to individuals	5,064,075,273.07
Accrued revenues	1,769,398,245.69
Fixed assets of the bank	2,749,545,787.26
Receivables	365,276,392.94
Provisions for loans	-23,539,003,774.73
Total Assets:	176,629,528,216.96
Liabilities
Funds in vostro accounts	1.325.774.912.13
Interbank deposits	4,064,529,407.60
Loans from the National Bank	3,472,210,000.00
Loans of financial institutions	3,236,533,553.00
Current accounts of legal entities	13.531.681.643.32
Budgetary funds	33,859,498.29
Deposits of legal entities	7,703,626,421.62
Current accounts of individuals	17,945,392,943.68
Deposits of individuals	86,477,460,713.02
Securities settlements	7,956,356,298.96
Accrued expenses	1,406,041,837.81
Payables	9,303,264,976.86
Total Liabilities:	156,456,732,206.29
Capital
Authorized capital of the Bank	16,352,079,225.00
Bank reserves	1,914,589,936.63
Results of prior years	43,593,228.59
Current year result	1,862,533,620.45
Total capital:	20,172,796,010.67