DHL 2000 Annual Report Download - page 114

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(27) Receivables and other securities from
financial services
Receivables and securities from financial services re-
sult exclusively from the operations of the Deutsche
Postbank group. In accordance with IAS 30,securi-
ties include trade assets and financial assets. The
rules governing the determination of the carrying
amount and valuation of these assets are set out in
IAS 25.
Receivables and securities from financial services in-
clude the following:
The increase in receivables and securities from finan-
cial services reflects the acquisition of DSL Bank by
Deutsche Postbank AG.
Receivables due from banks and customers are stat-
ed at acquisition costs net of depreciation, if appli-
cable, Premiums and discounts are recognized under
the respective items and accrued as interest expense
(under materials expense and expenses from banking
transactions) or interest income (under sales revenues
and income from banking transactions).
In fiscal year 2000,asset side provisions for loans and
advances developed as follows: (see table at the top of
page 107).
All risks recognizable in the lending business were
accounted for by setting up specific allowances.Poten-
tial risks were accounted for by setting up general
allowances to amounts determined on the basis of
historical loan loss rates.
Uncollectible receivables were written down to the re-
spective amounts with an effect on income,and the
receipt of such receivables was recognized as income.
Terms of maturity relating to receivables from finan-
cial services without deduction of the risk provision
are as follows:(see lower table page 107).
Trade assets mainly include securities and derivative
financial instruments with positive fair values acquired
for the purpose of short-term profit realization result-
ing from market price fluctuations or realization of a
trading margin.Valuation is based on fair values.Val-
uation results as well as realized results are disclosed
in the income statement.
106
19992000
Receivables from banks
Repayable on demand 1,389 736
Other receivables 36,626 26,433
38,015 27,169
Receivables from customers 38,978 3,585
Risk provision on the assets side
Receivables from banks – 10 0
Receivables from customers – 313 – 250
–323 –250
76,670 30,504
Trade assets
Debt securities and other fixed-interest
securities 707 7
Shares 21 1
Investment certificates 0 3
Positive market values from derivative
financial instruments 36 0
764 11
Financial assets
Debt securities and other fixed-interest
securities 50,009 16,582
Shares 999 70
Investment certificates 135 8,014
51,143 24,666
128,577 55,181
in € millions