13. Changes in accounting policies applicable from 1 January 2022 and explanation of the differences between previously published financial statements and these financial statements
In order to better reflect its operations and ensure comparability with the banking sector, the Group made the following changes in its accounting policies with respect to:
1. Income statement
Reclassification of card-related costs (1)
Starting from the first quarter of 2022, the Group has presented card-related costs in net fee and commission income under card-related costs. Previously, they have been presented in administrative expenses as material costs.
Reclassification of the costs of transport of cash to the Group’s customers (2)
Starting from the first quarter of 2022, the Group has presented the costs of transport of cash in net fee and commission income under the costs of bank accounts relating to clearing services. Previously, they have been presented in administrative expenses as material costs of IT services.
Reclassification of the costs of voluntary membership fees (3)
Starting from the first quarter of 2022, the Group has presented the costs of voluntary membership fees as a component of other operating expenses. Previously, these costs were presented as administrative expenses.
| INCOME STATEMENT – SELECTED ITEMS | 01.01-31.12.2021 before restatement |
(1) | (2) | (3) | 01.01-31.12.2021 restated |
|---|---|---|---|---|---|
| Net fee and commission income | 4 431 | (50) | (4) | – | 4 377 |
| Fee and commission expense | (1 165) | (50) | (4) | – | (1 219) |
| Other net income | 777 | – | – | (3) | 774 |
| Net other operating income and expense | 59 | – | – | (3) | 56 |
| Result on business activities | 15 090 | (50) | (4) | (3) | 15 033 |
| Administrative expenses | (6 174) | 50 | 4 | 3 | (6 117) |
| of which net regulatory charges | (645) | – | – | 3 | (642) |
| Net profit attributable to equity holders of the parent company | 4 874 | – | – | – | 4 874 |
2. Statement of financial position
In the consolidated statement of financial position, the line entitled „Receivables in respect of insurance activities” was changed to „Assets in respect of insurance activities”.
3. Cash flow statements
From the financial statements for 2022 onwards:
- the item “interest and dividends” in the section on cash flows from operating activities has been split into “interest and dividends received” and “interest paid” (1).
- cash flows from property assets leased under operating leases were reclassified from investing activities to operating activities (2).
| CASH FLOWS – SELECTED DATA | 01.01-31.12.2021 before restatement |
(1) | (2) | 01.01-31.12.2021 restated |
|---|---|---|---|---|
| Interest and dividends (old item) | (1 863) | – | – | – |
| Interest and dividends received (new item) | – | (2 280) | – | (2 280) |
| Interest paid (new item) | – | 417 | – | 417 |
| property, plant and equipment under operating lease (new item) | – | – | (416) | (416) |
| Net cash from/used in operating activities | 33 211 | – | (416) | 32 795 |
| Inflows from investing activities | 63 534 | – | (271) | 63 263 |
| Sale of intangible assets and property, plant and equipment | 466 | – | (271) | 195 |
| Outflows on investing activities | (77 249) | – | 687 | (76 562) |
| Purchase of intangible assets and property, plant and equipment | (1 717) | – | 687 | (1 030) |
| Net cash from/used in investing activities | (13 715) | – | 416 | (13 299) |