4.7. Classification of financial assets and financial liabilities according to IFRS on first-time application of IFRS 9

Categories of measurement of financial instruments pursuant to IAS 39 and new measurement categories pursuant to IFRS 9 for the Group’s financial assets and financial liabilities, taking into account changes in measurement and impairment allowances set up in accordance with IFRS 9 as at 1 January 2018 are shown in the table below.

Annual report
2018

As at 01.01.2018 Classification under IAS 39 Carrying amount under IAS 39 New classification under IFRS 9 New carrying amount under IFRS 9
Financial assets
Cash and balances with the Central Bank loans and receivables 17 810 measured at amortized cost 17 810
Amounts due from banks loans and receivables 5 233 measured at amortized cost 5 233
Hedging derivatives measured at fair value through profit or loss 887 not held for trading, measured at fair value through profit or loss 887
Other derivative instruments held for trading 1 711 held for trading 1 699
Securities held for trading held for trading 431 held for trading 431
Financial instruments designated at fair value  through profit or loss upon initial recognition – debt instruments measured at fair value through profit or loss 6 688 measured at fair value through other comprehensive income 4 199
not held for trading, measured at fair value through profit or loss 2 489
Financial instruments designated at fair value  through profit or loss upon initial recognition – equity instruments measured at fair value through profit or loss 1 469 not held for trading, measured at fair value through profit or loss 1 469
Available-for-sale investment securities – debt instruments available for sale 43 192 measured at fair value through other comprehensive income 43 024
not held for trading, measured at fair value through profit or loss 157
Available-for-sale investment securities – equity instruments available for sale1 483 not held for trading, measured at fair value through profit or loss 575
Investment securities held to maturity – debt securities held to maturity 1 812 measured at amortized cost 1 812
Loans and advances to customers loans and receivables 201 260 measured at amortized cost 199 393
not held for trading, measured at fair value through profit or loss 1 070
Loans and advances to customers – (debt instruments, corporate and municipal bonds) loans and receivables 4 368
Investment securities – debt instruments measured at amortized cost 4 368
Other financial assets loans and receivables 2 377 measured at amortized cost 2 377
TOTAL financial assets 287 721 286 993

1 In accordance with IAS 39 part of the portfolio referred to above, consisting of equity instruments not quoted on active markets were measured, after initial recognition, at cost net of impairment.

Corporate and communal bonds which in accordance with IAS 39 met the definition of loans and advances, as at 31 December 2017 had been presented in “Loans and advances to customers”. After IFRS 9 became binding, due to the fact that the securities meet the SPPI test criterion and are classified to “hold to collect” model, they are qualified to the category of financial assets measured at amortized cost and presented in the item dedicated to securities measured at amortized cost.

As at 01.01.2018 Classification under IAS 39 Carrying amount under IAS 39 New classification under IFRS 9 New carrying amount under IFRS 9
Financial liabilities
Amounts due to the Central Bank measured at amortized cost 6 measured at amortized cost 6
Amounts due to banks measured at amortized cost 4 558 measured at amortized cost 4 558
Hedging derivatives measured at fair value through profit or loss 204 measured at fair value through profit or loss 204
Other derivative instruments measured at fair value through profit or loss 2 536 measured at fair value through profit or loss 2 536
Amounts due to customers measured at amortized cost 220 917 measured at amortized cost 220 917
Debt securities in issue measured at amortized cost 23 932 measured at amortized cost 23 932
Subordinated liabilities measured at amortized cost 1 720 measured at amortized cost 1 720
Other financial liabilities measured at amortized cost 4 129 measured at amortized cost 4 129
TOTAL financial liabilities 258 002 258 002

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