25. Securities
Significant accounting policies
Securities are classified in the individual measurement categories in accordance with the principles for selecting the business model and evaluating the characteristics of contractual cash flows referred to in the Note 5.4.
Financial data
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Debt securities held for trading | 499,727 | 857,305 |
| Debt securities measured at amortised cost | 44,276,101 | 27,261,551 |
| Debt securities measured at fair value through other comprehensive income | 21,954,170 | 42,449,583 |
| Equity instruments held for trading | 1,061 | 5,393 |
| Equity instruments designated for measurement at fair value through other comprehensive income | 418,012 | 331,690 |
| Equity instruments mandatorily measured at fair value through profit or loss | 171,496 | 160,486 |
| Total | 67,320,567 | 71,066,008 |
Debt securities held for trading
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Debt securities issued by central governments | 212,941 | 521,014 |
| T – bills | – | 100 |
| T – bonds | 212,941 | 520,914 |
| Debt securities issued by banks | 94,264 | 135,299 |
| Debt securities issued by business entities | 192,205 | 200,992 |
| Debt securities issued by local governments | 317 | – |
| Total | 499,727 | 857,305 |
Debt securities measured at amortised cost
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Debt securities issued by State Treasury | 23,834,022 | 19,759,086 |
| T-bills | – | 808,649 |
| T-bonds | 23,834,022 | 18,950,437 |
| Debt securities issued by central banks | 20,893 | 74,678 |
| Debt securities issued by banks | 8,337,709 | 2,229,516 |
| Debt securities issued by business entities | 8,793,876 | 2,037,279 |
| Debt securities issued by local governments | 3,289,601 | 3,160,992 |
| Total | 44,276,101 | 27,261,551 |
| including impairment of assets | -132,754 | -73,566 |
Debt securities measure at fair value through other comprehensive income
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Debt securities issued by State Treasury | 13,126,929 | 21,090,221 |
| T – bills | – | 1,737,500 |
| T – bonds | 12,876,749 | 19,102,741 |
| Other | 250,180 | 249,980 |
| Debt securities issued by central banks | – | 1,000,000 |
| Debt securities issued by banks | 3,409,191 | 8,942,332 |
| Debt securities issued by business entities | 3,411,382 | 8,787,943 |
| Debt securities issued by local governments | 2,006,668 | 2,629,087 |
| Total | 21,954,170 | 42,449,583 |
| Including impairment of assets (*) | -48,628 | -63,143 |
* The impairment allowance for debt securities measured at fair value through other comprehensive income is included in the ‘Revaluation reserve’ item and does not reduce the carrying amount.
Equity instruments designated at fair value through other comprehensive income
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Shares | 1,061 | 5,393 |
| Total | 1,061 | 5,393 |
Equity instruments designated for measurement at fair value through other comprehensive income
The portfolio of equity instruments designated for measurement at fair value through other comprehensive income includes the following investments.
| FAIR VALUE AS AT 31.12.2021 | DIVIDENDS RECOGNIZED IN 2021 | |
| Entity X from construction sector | 42,068 | – |
| Entity Z from construction sector | 14,366 | – |
| Entity Q from construction sector | 15,309 | — |
| Entity providing credit information | 323,277 | 24,100 |
| Infrastructure entity of Polish banking sector | 16,085 | 1,477 |
| Intermediary in transactions among financial entities | 6,907 | – |
| Total | 418,012 | 25,577 |
| FAIR VALUE AS AT 31.12.2020 | DIVIDENDS RECOGNIZED IN 2020 | |
| Entity X from construction sector | 50,701 | – |
| Entity Y from construction sector | 2,862 | – |
| Entity Z from construction sector | 15,162 | – |
| Entity providing credit information | 239,618 | 24,104 |
| Infrastructure entity of Polish banking sector | 18,977 | 1,382 |
| Intermediary in transactions among financial entities | 4,370 | – |
| Total | 331,690 | 25,486 |
In 2021, as a result of the decisions made, the Group sold the following equity instruments designated for measurement at fair value through other comprehensive income. The result on the sale of these investments was transferred to the item ‘Other reserve capitals’
| 2021 | FAIR VALUE AT THE DERECOGNITION DATE | NET RESULT FROM SALE |
| Entity X from construction sector | 42,068 | 1,298 |
| Entity Y from construction sector | – | – |
| Intermediary in transactions among financial entities | – | – |
| Total | 42,068 | 1,298 |
Equity instruments mandatorily measured at fair value through profit or loss
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Shares | 171,496 | 160,486 |
| Total | 171,496 | 160,486 |
Debt securities according to contractual maturity
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| Debt securities, including: | ||
| up to 1 month | 217,567 | 2,249,593 |
| between 1 and 3 months | 2,888,349 | 3,632,303 |
| between 3 months and 1 year | 9,429,269 | 9,487,547 |
| between 1 and 5 years | 36,645,344 | 35,101,062 |
| over 5 years | 17,549,469 | 20,097,934 |
| Total | 66,729,998 | 70,568,439 |
Debt securities by currency
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| PLN | 57,388,961 | 62,170,950 |
| EUR | 1,890,924 | 1,808,645 |
| USD | 7,450,113 | 6,588,844 |
| Total | 66,729,998 | 70,568,439 |