FINANCIAL
STATEMENTS
REPORT ON OPERATIONS AND FINANCIAL STATEMENTS
1
BANCA CARIGE S.P.A.
2021 REPORT ON OPERATIONS AND FINANCIAL STATEMENTS
INTRODUCTION | 4 | ||
NOTICE OF ORDINARY SHAREHOLDERS' MEETING | 5 | ||
STRUCTURE OF THE BANCA CARIGE GROUP | 6 | ||
PARENT COMPANY'S BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND | 7 | ||
INDEPENDENT AUDITORS AS AT 31 DECEMBER 2021 | |||
FINANCIAL HIGHLIGHTS FOR THE BANK | 8 | ||
REPORT ON OPERATIONS | 10 | ||
- Real economy and money market | 11 | ||
- Covid-19: Regulatory measures and Carige Group initiatives | 13 | ||
- Key events in the reporting period | 22 | ||
- Corporate governance | 27 | ||
- Non-Financial Disclosure | 27 | ||
- Carige share price | 27 | ||
- Profit & Loss results | 28 | ||
- Balance sheet items, funding and lending | 34 | ||
- Fixed assets, equity investments and treasury shares | 43 | ||
- Cash Flow Statement, Shareholders' Equity and Risk Management | 43 | ||
- Relations with shareholders and investees | 46 | ||
- Main risks and uncertainties and outlook on operations | 48 | ||
BANCA CARIGE'S FINANCIAL STATEMENTS | 52 | ||
BANCA CARIGE'S FINANCIAL ACCOUNTS | 53 | ||
- Balance Sheet | 54 | ||
- Income Statement | 56 | ||
- Statement of comprehensive income | 57 | ||
- Statement of changes in Shareholders' equity | 58 | ||
- Statement of Cash Flows | 60 | ||
EXPLANATORY NOTES | 63 | ||
Part A - Accounting policies | 64 | ||
A 1 - Introduction | 65 | ||
Section 1 - Statement of compliance with international accounting standards | 65 | ||
Section 2 - Preparation criteria | 67 | ||
Section 3 - Subsequent events | 78 | ||
Section 4 - Other information | 80 | ||
A 2 - Main items of the consolidated financial position and results of the operations | 86 | ||
pursuant to art. 73, para. 4 of the Italian Consolidated Law on Banking | |||
A 4 - Information on fair value | 125 | ||
A 5 - Information on "Day one profit/loss" | 134 | ||
Part B - Balance Sheet | 135 | ||
Part C - Income Statement | 206 | ||
Part D - Comprehensive income | 231 | ||
Part E - Information on risks and risk hedging policies | 234 | ||
Part F - Shareholder's equity | 322 | ||
Part G - Business combinations | 328 | ||
Part H - Related-party transactions | 330 | ||
Part I - Share-based payments | 334 | ||
Part L - Segment reporting | 336 | ||
Part M - Leases | 338 | ||
CERTIFICATION OF THE SEPARATE FINANCIAL STATEMENTS PURSUANT TO ART. 81 TER OF | 345 | ||
CONSOB REGULATION NO. 11971 OF 14 MAY 1999 AND SUBSEQUENT AMENDMENTS AND | |||
PROPOSAL FOR THE SHAREHOLDERS' MEETING | 347 | ||
BOARD OF STATUTORY AUDITORS' REPORT | 349 | ||
INDEPENDENT AUDITORS' REPORT ON BANCA CARIGE S.P.A.'S FINANCIAL STATEMENTS | 373 | ||
2 |
ANNEXES | 383 | |||
NOTE | The following conventional signs are used in the tables of the Report on Operations and the Financial | |||
Statements: | ||||
- when data is nil | ||||
… when data is not significant |
3
INTRODUCTION
Banca Carige S.p.A.'s Financial Statements for the year ended 31 December 2021 were prepared in accordance with the international accounting standards IAS/IFRS, in force as at this reporting date and related interpretations (SIC/IFRIC), officially approved by the European Commission and in line with guidance provided by the Bank of Italy in its Circular No. 262 of 22 December 2005 ("Banks' Financial Statements: Layout and Preparation", 7th update of 29 October 2021).
Moreover, the provisions contained in the Bank of Italy's Communication of 21 December 2021 that supplements the provisions of Circular 262 of 22 December 2005, with a view to providing the market with information on the effects that the Covid-19 and the measures to support the economy have had on the strategies, objectives and policies of risk management and on the profit/loss and balance sheet position of intermediaries, were taken into account.1
These Financial Statements comprise the Financial Accounts as at 31 December 2021, the Explanatory Notes and Annexes, and are accompanied by the Directors' Report on Operations. Included in the financial statements are the:
- Balance sheet;
- Income Statement;
- Statement of Comprehensive Income;
- Statement of changes in Shareholders' equity;
- Statement of cash flows.
The Report on Operations provides the required information concerning business performance as a whole and for the various segments of Bank's business, as well as main risks and uncertainties encountered, particularly in consideration of the current macroeconomic context - where the ongoing Covid-19 pandemic continues to cause uncertainties - and the geopolitical context regarding the events in Ukraine.
These Financial Statements are audited by Deloitte & Touche S.p.A for the nine-year period 2021-2029.
For further information on issues not dealt with in detail in this Report, reference should be made to the information provided in the Consolidated Report on Operations.
1 The communication requires that, in describing the general policies used to prepare the financial statements, account be taken, where applicable, of the main interpretative and supporting documents, issued by European regulatory and supervisory bodies and by standard setters, addressing the application of certain standards in relation to the impact of Covid-19.
4
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Banca Carige S.p.A. Cassa di Risparmio di Genova e Imperia published this content on 12 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2022 07:09:03 UTC.