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 12/31/2006, which were published on 03/21/2006, announces the following:
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 Group's Equity and P/L results, which are included in the reported Interim Financial Statements have been changed as follows:
Equity decreases for the Bank as at 12/31/2003 (01/01/2004)
Total adjustments' amount euro -5,836
Equity increase for the Group as at 12/31/2003 (01/01/2004)
Total adjustments' amount euro +2,259
Equity decrease for the Bank as at 12/31/2004 (01/01/2005)
Total adjustments' amount euro -3,427
Equity increase for the Group as at 12/31/2004 (01/01/2005)
Total adjustments' amount euro +2,544
Based on the above corrections the Bank's opening Equity on 01/01/2004 is euro 217,463 instead of euro 223,299 while the Bank's opening Equity as at 01/01/2005 is euro 220,059 instead of euro 223,486.
Based on the above corrections the Group's opening Equity on 01/01/2004 is euro 215,942 instead of euro 220,992 (including minority interest) and the shareholders' euro 208,783 instead of euro 213,683 respectively while the Bank's opening Equity as at 01/01/2005, is euro 216,492 instead of euro 221,226 (including minority interest) and the shareholders' euro 209,427 instead of euro 213,948 respectively.
In addition to these there were some corrections and adjustments in Equity, the P/L results and Balance Sheet both the Bank's and the Group's which are included in the Interim Financial Statements of 1st, 2nd and 3rd quarters of 2004 and 2005 as follows:
For the Bank:
a. Equity as at 03/31/2004 is euro222,053 instead of euro228,092. Equity as at 03/31/2005 is euro223,412 instead of euro 227,102. b. Profits after taxes as at 03/31/2004 are euro 4,494 instead of euro 4,697. So, basic earnings per share decreases to 0.05 from 0.06. Profits after taxes on 03/31/2005 are euro 3,626 instead of euro 3,889 .So, basic earnings per share is 0.04 from 0.05. c. Assets as well as liabilities and Equity as at12/31/2004 are euro2,798,301 instead of euro 2,801,180 while on 03/31/2005 they are euro 2,644,633 instead of euro 2,647,587 according to the Interim Financial Statements of 2005.
For the Group:
a. Equity as at 03/31/2004 is euro221,550 instead of euro226,914. Equity as at 03/31/2005 is euro 221,593 instead of euro 226,713.
b. Profits after taxes on 03/31/2004 are euro 5,520 instead of euro 5,686 and the ones that are allocated to the Bank's stockholders are euro 5,155 instead of euro 5,309. Earnings per share has not changed.
On 03/31/2005 profits after taxes are euro 5,374 instead of euro 4,937 and the ones that are allocated to the Bank's stockholders are euro 5,207 instead of euro 4,753 and earnings per share amounts to 0,06 instead of 0,05.
c. Assets as well as liabilities and Equity as at 12/31/2004 comes up to euro 2,875,975 instead of euro 2,878,811 while on 03/31/2005 they are euro 2,736,613 instead of euro 2,741,048 according to the Interim Financial Statements of 2005.
The analytical 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 36) there.