Management Board Statements
1. Truthfulness and fairness of statements
To the best knowledge of the Bank Management Board, the annual financial data for 2014 and the comparable data presented in the consolidated annual financial statements of the ING Bank Śląski S.A. Capital Group were prepared, in all material aspects, in accordance with the effective accounting principles and present fairly, accurately and transparently all the information on the property and financial situation of the Bank Capital Group and its financial result. The Management Board Report being part of this document is a true presentation of the development, achievements and situation (including a description of key risks) of the Bank Capital Group in 2014.
2. Selection of entity authorised to audit financial statements
The entity authorised to review the interim financial statements and to audit the annual financial statements of the Bank Capital Group was selected according to the effective laws and Bank’s regulations. The entity and the chartered auditors fulfilled the conditions required to make an impartial and independent report on their review, as required by the applicable Polish laws.
3. Additional information
The Bank Management Board declare that as at 31 December 2014 ING Bank Śląski S.A. did not have any:
- significant cash loan agreements, sureties or guarantees not concerning operating activity, or
- liabilities towards the Central Bank,
As at 31 December 2014, the Bank had PLN 866.5 million worth of contractual liabilities under the issued own bonds.
Number and value of writs of execution
To safeguard the Bank against the lending-related risk, the Bank accepts various personal and tangible legal collaterals such as: bank guarantee, surety under the civil law, blank promissory note, draft guarantee, transfer of debt claims, mortgage, registered pledge, ordinary pledge, repossession for collateral, transfer of a specific amount to the Bank account and freezing of funds in the bank account.
As at 31 December 2014, the number of writs of execution issued by the Bank with regard to loans for business activity was 548 and covered total debt of PLN 505.7 million.
As regards retail clients, in 2014 the Bank issued 4,352 banking writs of execution totalling PLN 92.8 million and filed 4,944 claims totalling PLN 30.9 million.
Value of liabilities or debt claims under the proceedings in progress in 2014 did not exceed 10% of the Bank’s equity.
The Bank is of the opinion that neither the individual proceedings that were pending in 2014 and that were heard before any court of justice or arbitration, or before any public administration authority, nor all the proceedings in total pose any threat to the financial liquidity of the Bank.