33. Other assets

Accounting policies

Financial assets recognized in this item are stated at amounts due, comprising also potential interest on such assets, taking into consideration impairment allowances on expected loan losses. Non-financial assets are measured in accordance with the valuation principles applicable to specific categories of assets recognized in this item.

Annual report

Financial information

Other assets 1 31.12.2018 31.12.2017
Settlements in respect of card transactions 1 629 1 136
Settlement of financial instruments 82 284
Receivables in respect of cash settlements 189 158
Receivables and settlements in respect of trading in securities 32 94
Settlements relating to selling foreign currencies 2
Inventories 103 186
Assets for sale 82 107
Prepayments 222 286
Trade receivables 164 209
VAT receivable 148 114
Ceded technical reserves 672 472
Other 131 63
Total 3 454 3 111
of which: other financial assets 2 825 2 377

1 As at 31 December 2018 “Inventories” were described in the Note “Other assets” – comparative data as at 31 December 2017 was restated.

Other assets – inventories 31.12.2018 31.12.2017
Goods for resale 102 190
Finished goods 10
Available for sale investments – construction projects 1
Materials 11 7
Impairment allowances on inventories (11) (21)
Total 103 186


Management of foreclosed collateral– item “assets for sale”

Foreclosed collaterals as a result of restructuring or debt collection activities are either designated for sale or used by the Group for internal purposes. Details of the foreclosed assets are analysed in order to determine whether they can be used by the Group for internal purposes.

All of the assets foreclosed as a result of restructuring and debt collection activities in the years ended 31 December 2018 and 31 December 2017, respectively, were designated for sale. Activities undertaken by the Group are aimed at selling assets as soon as possible.

The primary procedure for the sale of assets is an open tender. In justified cases, the sale follows a different procedure depending on the specifics of the sold property.

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