34. Securities
2022 Annual Report
Accounting policies
Valuation and classification into categories is carried out in accordance with the principles for determining the business model and assessing the characteristics of contractual cash flows referred to in note „General accounting policies for financial instruments”.
The item “Securities” also includes an adjustment relating to fair value hedge accounting for securities representing hedged items (note „Hedge accounting and other derivative instruments”).
Financial information
For more information on credit risk exposures, see note „Credit risk – financial information”.
| SECURITIES | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2022 | |||||
| Debt securities | 164 | 578 | 65 211 | 68 556 | 134 509 |
| NBP money bills | – | – | 80 | – | 80 |
| Treasury bonds (in PLN) | 89 | 191 | 43 066 | 45 893 | 89 239 |
| Treasury bonds (in foreign currencies) | 2 | 321 | 4 397 | 713 | 5 433 |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 3 | – | 9 373 | 12 100 | 21 476 |
| municipal bonds (in PLN) | 14 | – | 5 054 | 6 182 | 11 250 |
| corporate bonds (in PLN)1 | 56 | 66 | 2 852 | 1 989 | 4 963 |
| corporate bonds (in foreign currencies) | – | – | 389 | 1 679 | 2 068 |
| Equity securities | 28 | 1 124 | – | – | 1 152 |
| shares in other entities – not listed | – | 358 | – | – | 358 |
| shares in other entities – listed | 27 | 115 | – | – | 142 |
| participation units in investment funds, investment certificates, rights to shares, pre-emptive rights | 2 | 651 | – | – | 653 |
| Total (excluding adjustment relating to fair value hedge accounting) | 193 | 1 702 | 65 211 | 68 556 | 135 662 |
| Adjustment relating to fair value hedge accounting (note „Hedge accounting and other financial instruments„) | – | – | – | (30) | (30) |
| Total | 193 | 1 702 | 65 211 | 68 526 | 135 632 |
1 The item includes bonds of international financial organizations of PLN 3 550 million.
| SECURITIES | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2021 | |||||
| Debt securities | 216 | 785 | 61 863 | 71 282 | 134 146 |
| NBP money bills | – | – | 810 | – | 810 |
| Treasury bonds (in PLN) | 69 | 261 | 39 613 | 50 816 | 90 759 |
| Treasury bonds (in foreign currencies) | 2 | 350 | 3 169 | – | 3 521 |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 4 | – | 9 894 | 12 092 | 21 990 |
| municipal bonds (in PLN) | 16 | – | 4 135 | 5 022 | 9 173 |
| corporate bonds (in PLN)1 | 125 | 174 | 3 810 | 1 937 | 6 046 |
| corporate bonds (in foreign currencies) | – | – | 432 | 1 415 | 1 847 |
| Equity securities | 32 | 1 264 | – | – | 1 296 |
| shares in other entities – not listed | – | 326 | – | – | 326 |
| shares in other entities – listed | 31 | 144 | – | – | 175 |
| participation units in investment funds, investment certificates, rights to shares, pre-emptive rights | 1 | 794 | – | – | 795 |
| Total (excluding adjustment relating to fair value hedge accounting) | 248 | 2 049 | 61 863 | 71 282 | 135 442 |
| Adjustment relating to fair value hedge accounting (note „Hedge accounting and other financial instruments„) | – | – | – | (2) | (2) |
| Total | 248 | 2 049 | 61 863 | 71 280 | 135 440 |
1 The item includes bonds of international financial organizations of PLN 3 652 million
The item “Treasury bonds in PLN and in foreign currencies” comprises Polish Treasury bonds. As at 31 December 2022 and 31 December 2021, the item “Treasury bonds in foreign currencies” comprises also Treasury bonds of Ukraine in the amount of PLN 420 million (PLN 1 162 million as at 31 December 2021) and Treasury bonds of the United States in the amount of PLN 640 million (none as at 31 December 2021), respectively.
| 31.12.2022 | 31.12.2021 | |
|---|---|---|
| allowance not reducing the fair value of securities measured at fair value through other comprehensive income | 62 | 39 |
| SECURITIES BY MATURITY (excluding adjustments relating to fair value hedge accounting) | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | wyceniane według zamortyzowanego kosztu | Total |
|---|---|---|---|---|---|
| 31.12.2022 | |||||
| without a stated maturity – equity securities | 28 | 1 124 | – | – | 1 152 |
| up to 1 month | 20 | 46 | 3 222 | 1 514 | 4 802 |
| 1 to 3 months | – | – | 278 | 211 | 489 |
| 3 months to 1 year | 17 | 28 | 3 729 | 1 275 | 5 049 |
| 1 to 5 years | 104 | 465 | 37 935 | 37 705 | 76 208 |
| more than 5 years | 24 | 39 | 20 047 | 27 851 | 47 961 |
| Total | 193 | 1 702 | 65 211 | 68 556 | 135 662 |
| PAPIERY WARTOŚCIOWE WEDŁUG TERMINÓW ZAPADALNOŚCI (bez korekty z tytułu rachunkowości zabezpieczeń wartości godziwej) | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2021 | |||||
| without a stated maturity – equity securities | 32 | 1 264 | – | – | 1 296 |
| up to 1 month | 8 | 2 | 954 | – | 964 |
| 1 to 3 months | 3 | – | 371 | 18 | 392 |
| 3 months to 1 year | 70 | 60 | 1 587 | 5 019 | 6 736 |
| 1 to 5 years | 92 | 541 | 35 656 | 38 185 | 74 474 |
| more than 5 years | 43 | 182 | 23 295 | 28 060 | 51 580 |
| Total | 248 | 2 049 | 61 863 | 71 282 | 135 442 |