DHL 2002 Annual Report Download - page 115

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30
Gains on the measurement of unhedged purchased
available-for-sale loans to customers were credited directly
to the revaluation reserve in the amount of €22 million
(previous year: €21 million). A gain of €23 million (previous
year: €2 million) of the revaluation reserve was reversed
to income in the period under review from the disposal of
available-for-sale loans to customers.
Valuation allowances of €185 million (previous year:
€153 million) were recognized for originated loans to cus-
tomers in the year under review.
30.3 Allowance for losses on loans and advances
The allowance for losses on loans and advances is recognized in
accordance with IAS 39.109 and covers all identifiable credit
and country risks. Global valuation allowances were recog-
nized for the potential credit risk on the basis of historical
amounts.
The allowance for losses on loans and advances consists
of the following allowances:
The allowance for losses on loans and advances
changed as follows in fiscal year 2002:
€29 million (previous year: €8 million) of non-
performing loans and advances was written off directly and
charged to income in the year under review. Recoveries on
loans previously written off amounted to €1 million (previ-
ous year: €2 million).
30.4 Trading assets/Hedging derivatives
(positive fair values)
Trading assets relate to trading in bonds and other fixed-
income securities, equities and other non-fixed-income
securities, foreign currencies and precious metals, as well as
derivatives that do not satisfy the IAS 39 criteria for hedge
accounting. All trading assets are carried at their fair values.
in €m 2001 2002
Loans and advances to other banks -10 -9
Loans and advances to customers -611 -579
-621 -588
Allowance for losses on loans and advances
Change in loan loss allowance
in €m Specific risks Country risks Potential risks Total
2001 2002 2001 2002 2001 2002 2001 2002
Opening balance at Jan. 1 244 561 7 9 72 51 323 621
Change in consolidated group 221 000002210
Additions 147 185 8210156187
Utilization 15 133 301019133
Reversal 36 70 3 2 21 8 60 80
Currency translation differences 0 -5 0 -2 0 0 0 -7
Closing balance at Dec. 31 561 538 9 7 51 43 621 588
in €m 2001 2002
Bonds and other fixed-income securities 4,475 10,433
Equities and other non-fixed-income securities 26 19
Positive fair value of derivatives 275 442
Positive fair value of banking book derivatives 630 401
5,406 11,295
Trading assets