Annual Financial Statements 2020

60 60 ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS CONTINUED 20. Financial instruments subject to offsetting, enforceable master netting arrangements or similar agreements Gross amount of recognised financial assets¹ N$'000 Financial liabilities Net amount of financial set off in the statement of financial position² N$'000 assets subject to netting agreements³ N$'000 Collateral received 4.7 N$'000 Net amount? N$'000 2019 Assets 21. 21.1 STANDARD BANK NAMIBIA LIMITED Annual financial statements 2020 61 Maturity analysis of assets The following table discloses the maturity analysis for the company's financial assets on a contractual discounted basis. Financial assets 2020 3 874 974 Cash and balances with the central bank¹ Derivative assets Trading assets Pledged assets Financial investments Loans and advances. Other financial assets Derivative assets 149 910 Loans and advances5 26 262 827 Total 26 412 737 (1 295 658) (1 295 658) 149 910 24 967 169 25 117 079 (149 910) (21 092 195) (21 242 105) 3 874 974 2019 Liabilities Gross amount of recognised financial liabilities¹ N$'000 Financial assets set off in the statement of financial position² Rm Net amounts of financial liabilities subject to netting agreements³ Rm Collateral pledged 6 Rm Net amount Rm Derivative liabilities (142 511) Deposits and current accounts5 Total (28 335 969) (1 295 658) (142 511) (29 631 627) 142 511 (29 631 627) (28 478 480) (1 295 658) (29 774 138) 142 511 (29 631 627) 2019 Cash and balances with central bank¹ Derivative assets Trading assets Pledged assets Financial investments Loans and advances² Other financial assets³ Note Redeemable on demand N$'000 Maturing within 1 year N$'000 Maturing within 1 to 5 years N$'000 Maturing after 5 years N$'000 Total N$'000 123456 123456 1 024 338 337 941 383 240 34 347 1 024 338 372 288 520 956 383 240 520 956 2 435 779 1 735 127 3 280 895 2 987 413 44 015 4 821 351 3 913 4 218 834 14 643 367 203 344 6 944 356 5 964 677 4 899 713 14 647 280 25 733 026 203 344 32 456 026 1 512 374 1 512 374 138 990 258 884 10 920 9 293 149 910 268 177 580 098 580 098 1 852 559 902 742 1 180 677 46 859 3 982 837 3 774 639 2 814 721 2 498 764 17 773 301 26 861 425 1 126 150 1 126 150 8 265 672 4 695 435 3 699 654 17 820 160 34 480 971 1 Gross amounts are disclosed for recognised financial assets and financial liabilities that are either offset in the statement of financial position or are subject to a master netting arrangement or a similar agreement, irrespective of whether the IFRS offsetting criteria is met. 2 Gross amounts of recognised financial assets or financial liabilities that qualify for offset in accordance with the criteria per IFRS. The offsetting has not been applied. 3 4 Related amounts not offset in the statement of financial position that are subject to a master netting arrangement or similar agreement. This is the total collateral value held for loans and advances. This could include financial collateral (whether recognised or unrecognised), cash collateral as well as exposures that are available to the company to be offset in the event of default. In most cases the company is allowed to sell or repledge collateral received. 5 The most material amounts offset in the statement of financial position pertain to cash management accounts. The cash management accounts allow holding companies (or central treasury functions) to manage the cash flows of its company by linking the current accounts of multiple legal entities within a group. This allows for cash balances of the different legal entities to be offset against each other to arrive at a net balance for those groups. 6 In most instances, the counterparty may not sell or repledge collateral pledged by the company. 7 2019 Collateral received for loans and advances has been updated to exclude collateral relocated to off balance sheet items. As a result, the net amount has also been updated. The table below sets out the nature of agreements and the types of rights relating to items which do not qualify for offset but that are subject to a master netting arrangement or similar agreement. Derivative assets and derivative liabilities Loans and advances Deposits and debt funding Nature of agreement International swaps and derivatives association agreements Customer agreement and Banks Act Customer agreement and Banks Act Related rights The agreement allows for offset in the event of default In the event of liquidation or bankruptcy, offset shall be enforceable subject to all applicable laws and regulations In the event of liquidation or bankruptcy, offset shall be enforceable subject to all applicable laws and regulations 1 On demand cash and balances with the central bank includes notes and coins. 2 This line has been updated to age loans and advances on a gross basis (before ECL) and not on a net basis as previously presented. 3 This line has been updated to exclude non-financial assets from this table and include them as part of note 21.2. Non-financial assets 21.2 The following table discloses the maturity analysis for the company's non-financial assets on a contractual discounted basis. More than 12 months Less than Note 12 months after reporting period N$'000 after reporting period Total N$'000 N$'000 2020 * Current tax asset 104 356 Property and equipment and right-of-use assets Goodwill and other intangible assets 9 727 611 10 451 787 727 611 451 787 Deferred tax asset 14 * * 294 624 7 76 785 76 785 76 785 1 179 398 1 655 163 Other assets 20191 Current tax asset Interest in joint venture and subsidiaries Property and equipment and right-of-use assets Goodwill and other intangible assets Deferred tax asset Other assets 81047 * 84 075 15 435 15 435 516 072 516 072 451 853 451 853 224 971 60 048 60 048 60 048 983 360 1 352 454 * Undated. 1 Table has been updated to include non-financial assets as per note 7.

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