Corrections in published interim financial statements
The Bank, in accordance with ELTE''s direction no.118AP/03-23-2006 and the Money Market''s Commission announcement on 03/24/2006 related to the annual financial data and information of 12/31/2005, which were published on 03/21/2006, announces the following (note: All the figures are in thousands):
The amounts shown in the Balance Sheets, the P/L results and Cash Flow statements as reported for the Bank and Group with the Interim Financial Statements, have been modified following corrections that were rendered and relate to; reclassification of Assets and Liabilities amounts, impairment for subsidiaries, retrospective re-evaluation of provisions, recognition of other provisions, valuation of securities, re-evaluation of real estate investments and the retrospective correction for the impact in deferred tax and income tax. As a result of the pre-mentioned modifications the Bank''s and the Group''s Equity and P/L results, which are included in the reported Interim Financial Statements have been changed as follows:
Equity decrease for the Bank as at 12/31/2003 (01/01/2004): Total adjustments'' amount Euro -3,062.
Equity increase for the Group as at 12/31/2003 (01/01/2004): Total adjustments'' amount Euro +5,334.
Equity decrease for the Bank as at 12/31/2004 (01/01/2005): Total adjustments'' amount Euro -230.
Equity increase for the Group as at 12/31/2004 (01/01/2005): Total adjustments'' amount Euro +6,147.
Based on the above corrections the Bank''s opening Equity as at 01/01/2004 is Euro 217,463 instead of Euro 220,525 while the Bank''s opening Equity as at 01/01/2005 is Euro 220,059 instead of Euro 220,289.
Based on the above corrections the Group''s opening Equity as at 01/01/2004 is Euro 215,942 instead of Euro 217,789 (including minority interest) and the shareholders'' Euro 208,783 instead of Euro 210,609 respectively while the Bank''s opening Equity as at 01/01/2005, is Euro 216,492 instead of Euro 217,448 (including minority interest) and the shareholders'' Euro 209,427 instead of Euro 210,345 respectively.
In addition to these there were some corrections and adjustments in the Equity, the P/L results and the Balance Sheet both the Bank''s and the Group''s, which are included in the Interim Financial Statements of the 3rd quarter of 2004 and 2005 as follows:
For the Bank:
a. Equity as at 09/30/2004 is Euro222077 instead of Euro225746. Equity as at 09/30/2005 is Euro239237 instead of Euro 241149.
b. Profits after taxes as at 09/30/2004 are Euro 12,518 instead of Euro 13,125.So the diluted Earnings per share amount to 0.14 instead of 0.15. Profits after taxes as at 09/30/2005 are Euro 12,097 instead of Euro 13,780. So basic and diluted earnings per share are 0.14 from 0.16.
c. Assets as well liabilities and Equity as at 12/31/2004 are Euro2,798,301 instead of Euro 2,797,982 while on 09/30/2005 they are Euro 3,132,542 instead of Euro 3,128,345 according to the nine-month Interim Financial Statements of 2005.
For the Group:
a. Equity as at 09/30/2004 is Euro219,842 instead of Euro222,594. Equity as at 09/30/2005 is Euro 238,618 instead of Euro 242,273.
b. Profits after taxes as at 09/30/2004 are Euro 12,569 instead of Euro 13,122 and the ones that are allocated to the Bank''s stockholders are Euro 12,449 instead of Euro 12,993. So diluted earnings per share is 0.14 from 0.15. On 09/30/2005 profits after taxes are Euro 14,451 instead of Euro 17,641 and the ones that are allocated to the Bank''s stockholders Euro 14,145 instead of Euro 17,126. So basic and diluted earnings per share amount to 0.16 instead of 0.20 and 0.16 instead of 0.19, respectively.
c. Assets as well liabilities and Equity as at 12/31/2004 come up to Euro 2,875.975 instead of Euro 2,876,493 while on 09/30/2005 they are Euro 3,234,512 instead of Euro 3,235,798 according to the nine-month Interim Financial Statements of 20alytical modified data and information, which relate to the intermediate periods which have already been reported, have been approved by the Board of Directors on 02/27/2006 that has approved the Bank''s and the Group''s annual financial statements for the fiscal year that ended on 12/31/2005, are found on the Bank''s site. There is a summary of those statements (note 16) there.