A
PL

Integrated Report 2020

  • Notes
  • 17. Cash and cash balances at central bank

17. Cash and cash balances at central bank

XLS
Cash and cash equivalents 31.12.2020 31.12.2019
Cash and other balances 3,403,704 2,566,518
Account in the National Bank of Poland 18,176 2,092,027
Gross cash and cash equivalents 3,421,880 4,658,545
Impairment allowances (3) (374)
Total cash and cash equivalents 3,421,877 4,658,171

 

XLS
Change of impairment allowances 31.12.2020 31.12.2019
Opening balance (374) (112)
Increases due to acquisition or origination (1,576) –
Decreases due to derecognition 1,491 500
Net changes in credit risk 456 (762)
Closing balance (3) (374)

 

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 Bank 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 2020 interest on statutory reserve accounts was 0.1% (0.5% as at 31 December 2019).

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 2020 was PLN 484,302 thousand (since 31 December 2019 PLN 2,973,849 thousand).

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