Annual report 2019

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PL
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PL
  • 17. Cash and balances at central bank

17. Cash and balances at central bank

XLS
Cash and cash equivalents 31.12.2019 31.12.2018
Cash and other balances 2,566,518 2,253,140
Account in the National Bank of Poland 2,092,027 644,095
Gross cash and cash equivalents 4,658,545 2,897,235
Impairment allowances (374) (112)
Total net cash and cash equivalents 4,658,171 2,897,123
XLS
Change in impairment provisions 31.12.2019 31.12.2018
Balance at the beginning of the period (112) –
Change resulting from IFRS 9 implementation – (14)
Increases due to acquisition or origination – (1)
Decreases due to derecognition – 243
Other changes (including foreign exchange differences) (262) (340)
Balance at the end of the period (374) (112)

 

During the day, the Group may use cash on statutory reserve accounts for current cash settlements based on an order placed at the National Bank of Poland. The Group has to ensure that the average monthly balance matches the declared statutory reserve amount.

The funds on the statutory reserve account bear interest. As at 31 December 2019 interest on statutory reserve accounts was 0.5% (0.5% as at 31 December 2018).

The balance of cash in hand and at Central Bank includes the statutory reserve maintained with the National Bank of Poland. The declared reserve level to be maintained since 31 December 2019 was PLN 2,973,849 thousand (as compared to PLN 3,043,961 thousand in December 2018).

The Group has to maintain the average monthly balance of cash above the declared statutory reserve level.

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Annual report 2019

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