Analysis of Financial Assets and Liabilities by Measurement Basis

Financial assets and financial liabilities are measured either at fair value or at amortized cost on an ongoing basis. The significant accounting policies summary describes how the classes of financial instruments are measured, and how income and expenses, including fair value gains and losses, are recognized. The following table gives a breakdown of the carrying amounts of the financial assets and financial liabilities by category as defined in IAS 39 and by balance sheet heading.

At December 31, 2011

Held for trading

Designated at fair value

Loans and receivables at amortized cost

Available for sale

Financial liabilities at amortized cost

Derivatives at fair value used as hedging instruments

Other

Total

ASSETS

Banks

-

-

42,114

-

-

-

-

42,114

Short-term deposits

-

498,787

-

-

-

-

-

498,787

Derivative financial instruments

273,437

-

-

-

-

60,625

-

334,062

Loans to the private sector

-

-

2,522,112

-

-

-

-

2,522,112

Loans guaranteed by the State

-

-

62,550

-

-

-

-

62,550

Equity investments

-

-

-

753,366

-

-

-

753,366

Investments in associates

-

-

-

-

-

-

42,073

42,073

Interest-bearing securities

-

-

-

671,578

-

-

-

671,578

Tangible fixed assets

-

-

-

-

-

-

9,383

9,383

Deferred income tax assets

-

-

-

-

-

-

3,682

3,682

Current income tax receivables

-

-

4,560

-

-

-

-

4,560

Other receivables

-

-

32,896

-

-

-

-

32,896

Accrued income

-

-

82,116

-

-

-

-

82,116

Total assets

273,437

498,787

2,746,348

1,424,944

-

60,625

55,138

5,059,279

LIABILITIES AND SHAREHOLDERS' EQUITY

Short-term credits

-

-

-

-

557,660

-

-

557,660

Derivative financial instruments

66,038

-

-

-

-

-

-

66,038

Debt securities

-

15,622

-

-

6,807

-

-

22,429

Debentures and notes

-

1,919,296

-

-

736,815

-

-

2,656,111

Other liabilities

-

-

-

-

14,188

-

-

14,188

Current accounts with State funds and other programs

-

-

-

-

624

-

-

624

Wage tax liabilities

-

-

-

-

1,846

-

-

1,846

Deferred income tax liabilities

-

-

-

-

-

-

4,501

4,501

Accrued liabilities

-

-

-

-

55,099

-

-

55,099

Provisions

-

-

-

-

-

-

16,193

16,193

Shareholders' equity

-

-

-

-

-

-

1,664,590

1,664,590

Total liabilities and shareholders' equity

66,038

1,934,918

-

-

1,373,039

-

1,685,284

5,059,279


At December 31, 2010

Held for trading

Designated at fair value

Loans and receivables at amortized cost

Available for sale

Financial liabilities at amortized cost

Derivatives at fair value used as hedging instruments

Other

Total

ASSETS

Banks

-

-

18,698

-

-

-

-

18,698

Short-term deposits

-

333,175

-

-

-

-

-

333,175

Derivative financial instruments

253,647

1,142

-

-

-

62,190

-

316,979

Loans to the private sector

-

-

2,212,713

-

-

-

-

2,212,713

Loans guaranteed by the State

-

-

56,292

-

-

-

-

56,292

Equity investments

-

-

-

637,802

-

-

-

637,802

Investments in associates

-

-

-

-

-

-

50,385

50,385

Interest-bearing securities

-

-

-

563,710

-

-

-

563,710

Tangible fixed assets

-

-

-

-

-

-

8,492

8,492

Deferred income tax assets

-

-

-

-

-

-

4,197

4,197

Current income tax receivables

-

-

8

-

-

-

-

8

Other receivables

-

-

31,461

-

-

-

-

31,461

Accrued income

-

-

71,150

-

-

-

-

71,150

Total assets

253,647

334,317

2,390,322

1,201,512

-

62,190

63,074

4,305,062

LIABILITIES AND SHAREHOLDERS' EQUITY

Short-term credits

-

-

-

-

278,590

-

-

278,590

Derivative financial instruments

44,274

157

-

-

-

-

-

44,431

Debt securities

-

42,311

-

-

9,356

-

-

51,667

Debentures and notes

-

1,672,894

-

-

640,706

-

-

2,313,600

Other liabilities

-

-

-

-

28,638

-

-

28,638

Current accounts with State funds and other programs

-

-

-

-

1,248

-

-

1,248

Wage tax liabilities

-

-

-

-

1,795

-

-

1,795

Deferred income tax liabilities

-

-

-

-

-

-

3,256

3,256

Accrued liabilities

-

-

-

-

50,958

-

-

50,958

Provisions

-

-

-

-

-

-

17,087

17,087

Shareholders' equity

-

-

-

-

-

-

1,513,792

1,513,792

Total liabilities and shareholders' equity

44,274

1,715,362

-

-

1,011,291

-

1,534,135

4,305,062
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