According to the explanatory directive of the Accounting Standardization and Audit Committee with Reg. No. 118/23.03.2006 as well as the announcement of the Capital Market Committee 24.03.2006 concerning the annual financial statements for the year ended 31.12.2005, ATEbank announces the following: The figures in the balance sheets and income statements, as published for the Group and the Bank in the interim financial statements of the financial years 2004-2005 have been modified to incorporate the following:
The correction of impairment of assets
The revaluation of fixed assets
The correction of recorded deferred tax asset
The amendment of IAS 39 "Recognition and Measurement - The Fair Value Option"
More specifically the adjustments on ATEbank Group's and Bank's equity for 01.01.2004 and 31.12.2004 are as follows:
Group's equity attributed to shareholders on 31.12.2003 (01.01.2004) decreased by Euro 57.353 thousand and amounted to Euro (370.095) thousand, modifying the published amount of Euro (312.742) thousand.
Group's equity attributed to shareholders on 31.12.2004 (01.01.2005) decreased by Euro 408.093 thousand and amounted to Euro (388.751) thousand, modifying the published amount of Euro 19.342 thousand.
Bank's equity on 31.12.2003 (01.01.2004) decreased by Euro 331.873 thousand and amounted to Euro (233.733) thousand, modifying the published amount of Euro 98.140 thousand.
Bank's equity on 31.12.2004 (01.01.2005) decreased by Euro 379.264 thousand and amounted to Euro (321.426) thousand, modifying the published amount of Euro 57.838 thousand.
The above modifications are analytically included in the annual financial statements of the Group and the Bank for the year ended 31.12.2005 (note to the financial statements 46), which were approved by the Board of Directors on 27.02.2006, for which an auditor's report was issued on 27.02.2006, were published on 28.02.2006 and have been placed in the Bank?s internet address www.ate.gr.
The amendment of I.A.S. 39 "Recognition and Measurement - The Fair Value Option" (June 2005) affected the Bank's hedge accounting approach and consequently the Group?s and Bank's interim income statement and equity were correspondingly affected.
The amendment of I.A.S. 39 affected the net trading income and the deferred tax income of the period.
Specifically, the Bank's and Group's interim income statement and equity were affected as follows:
Period 1.1-31.3.2005
Net trading income of the period's published Group and Bank interim Financial Statements was reduced by Euro 4.417 thousand, while a deferred tax asset (income) of Euro 1.414 thousand was recognized. The negative effect on the Profit after tax attributed to shareholders amounted to Euro 3.003 thousand.
The Group's Profit after tax attributed to shareholders of the period ended 31.03.2005 amounted to Euro 35.892 thousand (published Euro 38.895 thousand) while the Bank?s Profit after tax amounted to Euro 8.714 thousand (published Euro 11.717 thousand).
The restated Group's Equity attributed to shareholders amounted to Euro (335.470) thousand (published Euro 75.626 thousand) while the restated Bank's Equity amounted to Euro (297.367) thousand (published Euro 84.901 thousand). The above amounts are presented in the published Group's and Bank's interim Financial Statements as of 31.03.2006.
Period 1.1 - 30.6.2005
Net trading income of the period's published Group and Bank interim Financial Statements was increased by Euro 16.045 thousand, while a deferred tax asset (expense) of Euro 5.134 thousand was recognized. The positive effect on the Profit after tax attributed to shareholders amounted to Euro 10.911 thousand.
The Group's Profit after tax attributed to shareholders of the period ended 30.06.2005 amounted to Euro 70.388 thousand (published Euro 59.477 thousand) while the Bank's Profit after tax amounted to Euro 35.905thousand (published Euro 24.994 thousand).
The restated Group's Equity attributed to shareholders amounted to Euro 1.007.593 thousand (published Euro 1.404.777 thousand) while the restated Bank's Equity amounted to Euro 1.031.224 thousand (published Euro 1.399.577 thousand).
Period 1.1 - 30.9.2005
Net trading income of the period?s published Group and Bank interim Financial Statements was increased by Euro 17.605 thousand, while a deferred tax asset (expense) of Euro 5.634 thousand was recognized. The positive effect on the Profit after tax attributed to shareholders amounted to Euro 11.971 thousand.
The Group-s Profit after tax attributed to shareholders of the period ended 30.09.2005 amounted to Euro 90.722 thousand (published Euro 78.751 thousand) while the Bank's Profit after tax amounted to Euro 50.997 thousand (published Euro 39.026 thousand).
The restated Group's Equity attributed to shareholders amounted to Euro 1.127.350 thousand (published Euro 1.523.474 thousand) while the restated Bank's Equity amounted to Euro 1.135.873 thousand (published Euro 1.503.166 thousand).
Period 1.1 -31.3.2004
Net trading income of the period's published Group and Bank interim Financial Statements was increased by Euro 22.203 thousand, while a deferred tax asset (expense) of Euro 7.771 thousand was recognized. The positive effect on the Profit after tax attributed to shareholders amounted to Euro 14.432 thousand.
The Group's Profit after tax attributed to shareholders of the period ended 31.03.2004 amounted to Euro 26.707 thousand (published Euro 12.275 thousand) while the Bank?s Profit after tax amounted to Euro (341) thousand (published Euro (14.773) thousand).
The restated Group's Equity attributed to shareholders amounted to Euro (324.744) thousand (published Euro (281.823) thousand) while the restated Bank's Equity amounted to Euro (216.524) thousand (published Euro 100.916 thousand).
Period 1.1 - 30.6.2004
Net trading income of the period's published Group and Bank interim Financial Statements was increased by Euro 5.712 thousand, while a deferred tax asset (expense) of Euro 1.999 thousand was recognized. The positive effect on the Profit after tax attributed to shareholders amounted to Euro 3.713 thousand.
The Group's Profit after tax attributed to shareholders of the period ended 30.06.2004 amounted to Euro 36.679 thousand (published Euro 32.966 thousand) while the Bank?s Profit after tax amounted to Euro 5.530 thousand (published Euro 1.817 thousand).
The restated Group's Equity attributed to shareholders amounted to Euro (350.481) thousand (published Euro (296.841) thousand) while the restated Bank's Equity amounted to Euro (246.101) thousand (published Euro 82.058 thousand).
Period 1.1 - 30.9.2004
Net trading income of the period?s published Group and Bank interim Financial Statements was increased by Euro 23.087 thousand, while a deferred tax asset (expense) of Euro 8.080 thousand was recognized. The positive effect on the Profit after tax attributed to shareholders amounted to Euro 15.007 thousand.
The Group's Profit after tax attributed to shareholders of the period ended 30.09.2004 amounted to Euro 46.505 thousand (published Euro 31.498 thousand) while the Bank?s Profit after tax amounted to Euro 22.090 thousand (published Euro 7.083 thousand).
The restated Group's Equity attributed to shareholders amounted to Euro (368.059) thousand (published Euro (324.904) thousand) while the restated Bank's Equity amounted to Euro (256.037) thousand (published Euro 60.828 thousand).
Analytically, the restated Group and Bank interim Financial Statements for the periods 01.01-30.06.2005 and 01.01-30.09.2005 are available in the Bank's web site www.ate.gr. Also, the restated Group?s and Bank's Income statement for the period 01.01-31.03.2004 has been added in the interim Financial Statements as of 31.03.2006.