Amounts due to banks

Accounting policies

Amounts due to banks are financial liabilities measured at amortized cost using the effective interest rate method. In the case of financial liabilities for which it is not possible to estimate the schedule of future cash flows and the effective interest rate, they are measured at the amount due.

This item also includes securities subject to sell-buy-back transactions with a repurchase or resale clause specifying a contractual date and price. Securities subject to sell-buy-back transactions are not derecognized from the statement of financial position and are measured at the terms and conditions specified for particular securities portfolios. The difference between the sale price and the repurchase price is recognized as interest expense and it is settled over the term of the contract using the effective interest rate.

Financial information


AMOUNTS DUE TO BANKS31.12.201731.12.2016
Loans and advances received2 78517 567
Bank deposits1 077800
Amounts due from repurchase agreements-206
Current accounts653593
Other monetary market deposits4342
Total4 55819 208

In 2017, the Group partly repaid loans from:

  • Nordea Bank AB (publ), including: CHF 3,339 million (PLN 12,535 million), USD 4 million (PLN 13 million) and EUR 107 million (PLN 456 million).
  • domestic banks of PLN 442 million.

In 2016, the Group partly repaid loans from domestic banks of PLN 44 million.