7.3 Expenses from financial assets and liabilities

Expenses from financial assets and liabilities

 

 

in EUR

 

2011

2010

Interest expense from derivative financial instruments held for trading

1,961,257

2,877,972

Interest expense from current debt:

881,704

1,304,127

   - on bank loans

737,344

1,010,650

   - other loans

742

0

   - other interest expense

143,618

293,477

Interest expense from noncurrent debt:

678,052

591,865

   - bank loans

312

0

   - other loans

0

334,119

   - other interest expense

677,740

257,746

Interest expense from bonds issued

2,328,793

2,346,817

TOTAL INTEREST EXPENSE

5,849,806

7,120,781

FAIR VALUE LOSSES

88,422,449

40,987,067

REALISED LOSS ON DISPOSALS

17,368,136

9,414,307

LOSS ON EQUITY INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD

16,977,661

1,504,027

LOSS ON IMPAIRMENT OF FINANCIAL ASSETS

63,188,577

51,052,283

OTHER FINANCE COSTS

10,203,797

11,475,789

TOTAL EXPENSES FROM FINANCIAL ASSETS AND LIABILITIES

202,010,426

121,554,254

 

Documents

 
 
 

Fair value losses are described in detail in Section 7.4 and realised loss on disposals of financial assets in Section 7.5.

Loss on equity investments in associates, accounted for by using the equity method in the amount of EUR 14.5 million refer to Abanka Vipa d.d. which at 31 December 2010 was recognized as an associate and in 2011 was carried as investment available for sale (as explained in Section 1.6). The loss amount refers to profits from previous years recognised under the equity method.

The largest impairment loss of financial assets in the amount of EUR 59.8 million refers to impairment of investments available for sale. As much as 81.5% of the impairment loss of financial assets refers to the impairment of shares of Abanka Vipa d.d. and NLB d.d., and of Greek bonds.

 
 
 
 
 
 
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