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Public Joint Stock Company “Bank “Clearing House” Annual Financial Statements of Public Joint Stock сompany “Bank “CLEARING HOUSE” for the year ended 31 December 2020 PUBLIC JOINT STOCK COMPANY “BANK “CLEARING HOUSE” Annual Financial Statements for the year ended 31 December 2020 Annual Financial Statements of Public Joint Stock сompany “Bank “CLEARING HOUSE” for the year ended 31 December 2020 CONTENTS ANNUAL FINANCIAL STATEMENTS Statement of financial position (Balance Sheet)....................................................................................... 1 Statement of profit and loss and other comprehensive income ............................................................. 2 Statement of changes in equity .................................................................................................................. 3 Statement of cash flows .............................................................................................................................. 4 NOTES TO ANNUAL FINANCIAL STATEMENTS Note 1. Background information ................................................................................................................ 6 Note 2. Operating environment of the Bank ............................................................................................. 7 Note 3. Basis of preparation of the financial statements and summary of accounting policies .......... 8 Note 4. New and revised standards ......................................................................................................... 21 Note 5. Cash and cash equivalents .......................................................................................................... 23 Note 6. Loans and due from banks........................................................................................................... 25 Note 7. Loans and advances to customers .............................................................................................. 26 Note 8. Investment securities ................................................................................................................... 32 Note 9. Investment property ..................................................................................................................... 32 Note 10. Fixed and intangible assets ....................................................................................................... 34 Note 11. Other assets ................................................................................................................................ 35 Note 12. Due to banks ............................................................................................................................... 37 Note 13. Amounts due to customers ........................................................................................................ 37 Note 14 Provisions for liabilities .............................................................................................................. 38 Note 15. Other liabilities ........................................................................................................................... 39 Note 16. Share capital and share premium ............................................................................................. 40 Note 17. Changes of revaluation reserves (components of other comprehensive income) ................ 40 Note 18. Maturity analysis of assets and liabilities ................................................................................ 41 Note 19. Interest income and expense .................................................................................................... 42 Note 20. Commission income and expense ............................................................................................ 43 Note 21. Other operating income ............................................................................................................. 43 Note 22. Administrative and other operating expenses ......................................................................... 44 Note 23. Income tax expenses ................................................................................................................. 45 Note 24. Earnings per share ...................................................................................................................... 47 Note 25. Operating segments ................................................................................................................... 47 Note 26. Financial risk management ....................................................................................................... 50 Note 27. Capital management .................................................................................................................. 60 Note 28. Contingent liabilities of the Bank ............................................................................................. 60 Note 29. Fair value of financial instruments ........................................................................................... 62 Note 30 Presentation of financial instruments by measurement categories ....................................... 63 Note 31 Related party transactions ......................................................................................................... 65 Note 32. Subsequent events ..................................................................................................................... 67 Annual Financial Statements of Public Joint-Stock company “Bank “CLEARING HOUSE” for the year ended 31 December 2020 Note 1. Background information These financial statements of Public Joint-Stock сompany “Bank CLEARING HOUSE” (hereinafter – the Bank) were prepared in accordance with International Financial Reporting Standards for the year ended 31 December 2019. The financial statements were prepared in the Ukrainian currency, in thousands of Ukrainian hryvnias. The full name of the Bank is Public Joint-Stock сompany “Bank CLEARING HOUSE”, and the official abbreviated name is JSB “СLEARING HOUSE”. Registered address and the place of business of the Bank: Borysohlibska Street, building 5, letter A, Kyiv, 04070, Ukraine. The Bank was incorporated and is domiciled in Ukraine. The Bank is a public open joint stock company. The Bank operates under the License to provide banking services No 171 of 13 October 2011 issued by the National Bank of Ukraine under para 3, Art. 47 of the Law of Ukraine On Banks and Banking Activities. The services representing foreign currency transactions are provided under the general Permit to exercise foreign currency transactions No 171 of 13 October 2011 issued by the National Bank of Ukraine. The Bank has the following licenses issued by the National Securities and Stock Market Commission to perform professional (depository) operations in the stock market: series АЕ No 263457 as of 01.10.2013 – depository activities of a depository institution; series АЕ No 263458 as of 01.10.2013 – activities of a custodian of mutual funds; series АЕ No 263459 as of 01.10.2013 – activities of a custodian of pension fund assets. The Bank has the following licenses issued by the National Securities and Stock Market Commission to perform professional activities in the stock market (trading securities): series AE No 185076 from 19.10.2012 – dealer activities; series AE No 185077 from 19.10.2012 – brokerage activities. A strategic objective of the Bank is to be a versatile and dynamic bank, to strengthen its position, to join the leaders in the financial market of Ukraine, and to increase the market value of the Bank. The Bank is a member of the Deposit Guarantee Fund (registration No 149 as of 8 November 2012) and operates under the Law of Ukraine On Individuals Deposits Guarantee Fund No 4452-VI as of 23.02.2012. The ultimate owners of material interests in the Bank are: Liovochkina Yuliia Volodymyrivna who owns in total 60,3453% of shares in the Bank in total, including direct ownership of 0% and indirect ownership of 60.3453%; Resolution No 154 of 23.03.2016 of the Committee of the National Bank of Ukraine On Banking Supervision and Regulation, Payment System Oversight on the consent to the acquisition of a qualifying shareholding in the Bank. Fursin Ivan Hennadiiovych who owns in total 42.6042% of shares in the Bank, including direct ownership of 10.7654% and indirect ownership of 31.8388%. Resolution No 153 of 23.03.2016 of the Committee of the National Bank of Ukraine On Banking Supervision and Regulation, Payment System Oversight on the consent to the acquisition of a qualifying shareholding in the Bank. The Bank is a member of the Independent Banks’ Association of Ukraine, the Association of Taxpayers of Ukraine, the Professional Association of the Participants of Capital Market and Derivatives, and the Ukrainian Stock Traders (the self-regulatory organization of professional securities market participants). The Bank effectively integrated into the international information and payment systems as a member of SWIFT international payment system and of REUTERS international dealing system, and an associate member of VISA international payment system. Financial position of the Bank is confirmed by external auditor – PKF UKRAINE LLC. As at 31 December 2020, the Bank has 5 branches. Page 6 Annual Financial Statements of Public Joint-Stock company “Bank “CLEARING HOUSE” for the year ended 31 December 2020 Note 2. Operating environment of the Bank The Bank operates in Ukraine, where economic environment is open and considered as
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