Group Consolidated  Financial Statements 2017 (IFRS)

Consolidated statement of income

in EUR thousand Notes 1-12 16 1-12 17
Net interest income 1 4,374,518 4,353,154

Interest income

1 5,910,189 5,624,422

Interest expense

1 -1,535,671 -1,271,268
Net fee and commission income 2 1,782,963 1,851,567

Fee and commission income

2 2,225,598 2,329,384

Fee and commission expense

2 -442,635 -477,816
Dividend income 3 45,181 43,726
Net trading result 4 283,802 222,802
Result from financial assets and liabilities designated at fair value through profit or loss 4 -11,527 -12,302
Net result from equity method investments   9,010 15,857
Rental income from investment properties & other operating leases 5 207,234 194,235
Personnel expenses 6 -2,339,292 -2,388,581
Other administrative expenses 6 -1,235,771 -1,309,630
Depreciation and amortisation 6 -453,110 -460,022
Gains/losses from financial assets and liabilities not measured at fair value through profit or loss, net 7 148,001 156,431
Net impairment loss on financial assets  8 -195,672 -132,017
Other operating result 9 -664,953 -457,425

Levies on banking activities

9 -388,794 -105,658
Pre-tax result from continuing operations   1,950,385 2,077,797
Taxes on income 10 -413,627 -410,050
Net result for the period   1,536,757 1,667,747

Net result attributable to non-controlling interests

  272,030 351,529
Net result attributable to owners of the parent   1,264,728 1,316,218

Earnings per share

Earnings per share constitute net profit/loss for the year attributable to owners of the parent divided by the average number of ordinary shares outstanding. Diluted earnings per share represent the maximum potential dilution (through an increase in the average number of shares) that would occur if all subscription and conversion rights granted were exercised (also see Note 36 Total equity). As in the previous year no subscription and conversion rights were outstanding during th financial year. Diluted earnings per share were identical to the undiluted.

      1-12 16 1-12 17
Net result attributable to owners of the parent in EUR thousand 1,264,728 1,316,218
Dividend on AT1 capital in EUR thousand -16,368 -60,893
Net result for the period attributable to owners of the parent after deduction of AT1 capital dividend in EUR thousand 1,248,360 1,255,325
Weighted average number of outstanding shares   426,668,132 426,679,572
Earnings per share in EUR 2.93 2.94
Weighted average diluted number of outstanding shares   426,668,132 426,679,572
Diluted earnings per share in EUR 2.93 2.94

Consolidated statement of comprehensive income

in EUR thousand 1-12 16 1-12 17
Net result for the period 1,536,757 1,667,747
     
Other comprehensive income    
Items that may not be reclassified to profit or loss    

Remeasurement of net liability of defined pension plans

-36,130 -7,387

Deferred taxes relating to items that may not be reclassified

-9,098 6,747
Total -45,227 -640
     
Items that may be reclassified to profit or loss    
Available for sale reserve -4,603 -184,575

Gain/loss during the period

142,807 -61,622

Reclassification adjustments

-147,411 -122,953
Cash flow hedge reserve -13,341 -105,288

Gain/loss during the period

18,235 -73,898

Reclassification adjustments

-31,576 -31,390
Currency translation 28,848 237,620

Gain/loss during the period

28,848 237,620

Reclassification adjustments

0 0
Deferred taxes relating to items that may be reclassified 8,791 67,273

Gain/loss during the period

-33,446 23,264

Reclassification adjustments

42,236 44,009
Total 19,694 15,030
Total other comprehensive income  -25,533 14,391
     
Total comprehensive income 1,511,224 1,682,137

Total comprehensive income attributable to non-controlling interests

307,847 277,144

Total comprehensive income attributable to owners of the parent

1,203,377 1,404,994

The deferred taxes relating to items that may be reclassified amounted to EUR 62,273 thousand (2016: EUR 8.791 thousand), thereof EUR 45,188 thousand (2016: EUR 4.379 thousand) relate to the available for sale reserve and EUR 22,085 thousand (2016: EUR 4.412 thousand) relate to the cash flow hedge reserve.

Consolidated balance sheet

in EUR thousand Notes Dec 16 Dec 17
Assets      
Cash and cash balances 12 18,352,596 21,796,299
Financial assets - held for trading   7,950,401 6,349,189

Derivatives

13 4,474,783 3,333,142

Other trading assets

14, 18 3,475,618 3,016,047

thereof pledged as collateral

42 56,314 242,434
Financial assets - at fair value through profit or loss  15, 18 479,512 542,572

thereof pledged as collateral

42 0 0
Financial assets - available for sale 16, 18 19,885,535 16,060,153

thereof pledged as collateral

42 678,225 756,537
Financial assets - held to maturity 17, 18 19,270,184 19,800,435

thereof pledged as collateral

42 913,600 1,568,387
Loans and receivables to credit institutions 19 3,469,440 9,125,673
Loans and receivables to customers 20 130,654,451 139,532,277
Derivatives - hedge accounting 22 1,424,452 884,311
Property and equipment 26 2,476,913 2,386,767
Investment properties 26 1,022,704 1,111,561
Intangible assets 27 1,390,245 1,523,564
Investments in associates and joint ventures 23 193,277 198,373
Current tax assets 28 124,224 107,633
Deferred tax assets 28 233,773 257,933
Assets held for sale 29 279,447 213,897
Other assets 30 1,019,916 768,795
Total assets   208,227,070 220,659,433
       
Liabilities      
Financial liabilities - held for trading   4,761,782 3,422,793

Derivatives

13 4,184,508 2,933,667

Other trading liabilities

31 577,273 489,126
Financial liabilities - at fair value through profit or loss   1,763,043 1,801,245

Deposits from banks

32 0 0

Deposits from customers

32 73,917 48,559

Debt securities issued

32 1,689,126 1,752,686

Other financial liabilities

32 0 0
Financial liabilities measured at amortised cost   178,908,933 191,711,402

Deposits from banks

33 14,631,353 16,349,382

Deposits from customers

33 137,938,808 150,920,715

Debt securities issued

33 25,502,621 23,342,123

Other financial liabilities

  836,150 1,099,182
Derivatives - hedge accounting 22 472,675 360,379
Changes in fair value of portfolio hedged items   942,028 666,117
Provisions 34 1,702,354 1,647,963
Current tax liabilities 28 65,859 101,079
Deferred tax liabilities 28 67,542 61,454
Liabilities associated with assets held for sale 29 4,637 2,752
Other liabilities 35 2,936,220 2,595,932
Total equity   16,601,996 18,288,316

Equity attributable to non-controlling interests

36 4,142,054 4,416,402

Additional equity instruments

36 496,750 993,275

Equity attributable to owners of the parent

36 11,963,192 12,878,639

Subscribed capital

36 859,600 859,600

Additional paid-in capital

36 1,477,860 1,476,689

Retained earning and other reserves

36 9,625,732 10,542,350
Total liabilities and equity   208,227,070 220,659,433

Consolidated statement of changes in equity

Consolidated statement of cash flows

Notes to the group financial statements of Erste Group

General information
and significant accounting policies

Notes to the statement of comprehensive income and the balance sheet of Erste Group