Sberbank - Annual Report 2010 - 15 Other Assets

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# 15 Other Assets

In millions of Russian Roubles | 2010 | 2009
--- | --- | ---
Other financial assets |  |
Receivables on plastic cards settlements | 91,219 | 52,324
Derivative financial instruments | 9,257 | 3,965
Settlements on currency conversion operations | 6,196 | 4,645
Trade receivables | 5,259 | 1,603
Accrued fees and commissions | 2,758 | 2,153
Funds in settlement | 118 | 1,502
Other financial assets | 3,937 | 3,337
Provision for impairment of other financial assets | (2,162) | (4,008)
Total other financial assets | 116,582 | 65,521
Other non-financial assets |  |
Prepayments for premises and other assets | 39,258 | 20,203
Precious metals | 34,767 | 37,490
Inventory of non-banking subsidiaries | 11,589 | 3,444
Goodwill | 8,251 | 469
Investment property | 5,414 | 2,499
Tax settlements (other than on income) | 4,230 | 741
Intangible assets acquired through business combinations | 4,170 | 2,736
Non-exclusive licences | 4,091 | 2,620
Prepaid expenses | 2,840 | 3,280
Investments in associates | 2,479 | 31
Prepayment on income tax | 929 | 5,752
Non-current assets held for sale | 402 | 3,370
Other non-financial assets | 8,658 | 3,997
Provision for impairment of other non-financial assets | (2,610) | (1,446)
Total other non-financial assets | 124,468 | 85,186
Total other assets | 241,050 | 150,707

As at 31 December 2010 receivables on plastic cards settlements of RR91 219million (2009: RR 52 324 million) represent receivables due within 30 days on operations of the Group's customers with plastic cards.

As at 31 December 2010 included in investments in associates are investments in a company acquired by the Group in December 2010 - OJSC 'Detskiy Mir - Centr', a retail trading company specializing in goods for children. The Group acquired 25% plus one share and a put option which enables the Group to dispose of the shares in three years' time at a fixed price. The optionis recorded within derivative financial instruments. The option is exercisable before maturity if certain conditions specified in the agreement are met.

As at 31 December 2009 included in non-current assets held for sale were assets repossessed by the Group from its borrower which were disposed off in 2010.

As at 31 December 2010 and 31 December 2009 the analysis of intangible assets acquired through business combinations is as follows:

In millions of Russian Roubles | 2010 | 2009
--- | --- | ---
Licenses for oil exploitation | 2,598 |
Core deposit intangible | 1,483 | 1,872
Long-term land lease rights | - | 641
Other | 89 | 223
Total intangible assets acquired through business combinations | 4,170 | 2,736

Movements in the provision for impairment of other assets during 2010 are as follows:

In millions of Russian Roubles | Funds in settlement | Other financial assets | Prepayments for premises and other assets | Other non-financial assets | Total
--- | --- | --- | --- | --- | ---
Provision for impairment at 1 January 2010 | 385 | 3,623 | 1,111 | 335 | 5,454
Net provision charge for impairment during the year | (308) | 5,458 | (26) | 1,313 | 6,437
Other assets written off during the year as uncollectible | - | (6,996) | (2) | (121) | (7,119)
Provision for impairment at 31 December 2010 | 77 | 2,085 | 1,083 | 1,527 | 4,772

Movements in the provision for impairment of other assets during 2009 are as follows:

In millions of Russian Roubles | Funds in settlement | Other financial assets | Prepayments for premises and other assets | Other non-financial assets | Total
--- | --- | --- | --- | --- | ---
Provision for impairment at 1 January 2009 | 545 | 2,215 | 114 | 564 | 3,438
Net provision charge for impairment during the year | (160) | 1,695 | 997 | (159) | 2,373
Other assets written off during the year as uncollectible | - | (287) | - | (70) | (357)
Provision for impairment at 31 December 2009 | 385 | 3,623 | 1,111 | 335 | 5,454

Provision for impairment of other assets is recognised by the Group on operations conducted in the normal course of the Group’s business. Provision is accessed on the basis of the Group’s best estimates of recoverability of other assets.

Movements in goodwill arising on the acquisition of subsidiaries are:

In millions of Russian Roubles | Note | 2010 | 2009
--- | --- | --- | ---
Carrying amount at 1 January |  | 469 | -
Impairment loss |  | (917) | -
Acquisition of subsidiaries | 37 | 8,699 | 469
Carrying amount at 31 December |  | 8,251 | 469

The estimated fair value of other financial assets is disclosed in Note 34. Currency and maturity analyses of other assets are disclosed in Note 31.

## History

- 14 Premises and Equipment
- 27 Income Taxes
- 13 Investment Securities Held to Maturity
- 12 Investment Securities Available for Sale
- 11 Securities Pledged under Repurchase Agreements

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