| |
CAS
(CZK mil.) |
IAS
(CZK mil.) |
| Loss before tax |
(118) |
(100) |
| Tax charge |
(121) |
(121) |
| Loss after tax |
(239) * |
(221) |
| There from: Income from interest in associated undertakings |
--- |
415 |
| Total assets |
484,762 |
409,090 |
| Total shareholders' equity |
20,995 |
21,165 |
| |
CAS
(CZK mil.) |
IAS
(CZK mil.) |
| Loss before tax |
(8,689) |
(9,211) |
| Tax charge |
(77) |
(78) |
| Loss after tax |
(8,766) * |
(9,289) |
| There from: Income from interest in associated undertakings |
--- |
116 |
| Total assets |
445,024 |
396,219 |
| Total shareholders' equity |
18,686 |
18,934 |
* In addition, share in profit in equivalence increased
to CZK 415 mil. in 2000
from CZK 116 mil. in 1999
Commentary on the IAS results for the year 2000
The audited consolidated IAS results of the Group in accordance with IAS was CZK 221 million, the difference to the unconsolidated loss of CZK 19 million was the result of the following:
Positive contribution from the Group's principal product platform subsidiaries and associates. The Group's asset management, leasing and building society companies performed strongly (CZK 386 million).
This has been offset by elimination adjustments relating to dividends and taxes paid by subsidiary and associate companies which have adversely impacted the consolidated results by CZK 535 million.
Consolidated losses arising primarily from the Group's decision to reduce significantly its activites in ALL IN Group and to change the basis of accounting for its investment in OPF Globalni from an associate to a long term investments amount to a net CZK 53 million.
The audited loss is CZK 69 million higher than the preliminary unaudited consolidated loss reported on 5 April 2001 as a result of the restatement of the Group's tax liability for the year ended 31 December 2001.
Radovan Vávra
Chairman and Chief Executive Komerční banka, a. s.
Tomas Spurny
Member of the Board Komerční banka, a. s.