Page 123 - BKT Annual Report 2024 EN

Notes to the Consolidated Financial Statements for the year ended 31 December 2024 Notes to the Consolidated Financial Statements for the year ended 31 December 2024
(amounts in USD, unless otherwise stated) (amounts in USD, unless otherwise stated)

Current accounts and deposits can be further analysed by original maturity and currency as follows: Treasury bills and Albanian Government Bonds and Securities with a total value of USD 227,990,707 (31 December 2023: USD
145,749,308) were used to secure Repo agreements and borrowings from banks.
31 December 2024 31 December 2023 Deposits from banks as at 31 December 2024 represent short-term borrowings obtained from resident and non-resident banks.

Local Foreign Local Foreign
currency currency Total currency currency Total 19. DUE TO THIRD PARTIES
Current accounts 895,269,143 1,376,060,593 2,271,329,736 776,422,343 1,313,961,514 2,090,383,857
The Bank acts as an agent for the tax authorities, either in the collection of taxes or in making advance payments for the budget. In
Deposits
return, the Bank charges a commission to the taxpayers for the services rendered. The credit balance as at 31 December 2024 of
On demand 158,759,858 434,841,027 593,600,885 147,326,694 434,321,404 581,648,098
USD 3,812,079 (31 December 2023: USD 8,138,846) represents the net outstanding amount of payments and collections made by
Up to 39 days 41,755,113 27,942,522 69,697,635 47,353,600 38,226,518 85,580,118
the Bank to and from third parties, on behalf of the tax.
40-99 days 22,498,104 55,210,589 77,708,693 21,753,787 80,112,031 101,865,818
100-189 days 49,695,221 119,834,729 169,529,950 50,452,458 107,102,268 157,554,726 20. DEFERRED TAX ASSETS (LIABILITIES)
190- 370 days 520,529,778 780,006,428 1,300,536,206 483,773,692 719,713,302 1,203,486,994
371 days and over 424,537,782 723,166,868 1,147,704,650 419,652,754 724,960,918 1,144,613,672 Deferred income taxes are calculated using a tax rate of 15% for Albania and 10% for Kosovo. The movement on the deferred income
Accrued interest on deposits 13,886,071 15,097,812 28,983,883 10,169,602 11,601,176 21,770,778 tax account is as follows:
Total deposits 1,231,661,927 2,156,099,975 3,387,761,902 1,180,482,587 2,116,037,617 3,296,520,204
31 December 2024 31 December 2023
Other customer accounts 30,786,318 57,776,927 88,563,245 41,027,642 51,082,364 92,110,006 Asset (liability) at 1 January 11,339,037 12,918,087
Total customer deposits 2,157,717,388 3,589,937,495 5,747,654,883 1,997,932,572 3,481,081,495 5,479,014,067 Income for the period (158,960) (21,094)
Exchange differences (2,088,848) (1,557,956)
Other customer accounts are composed as follows: Asset at the end of the year 9,091,229 11,339,037

31 December 2024 31 December 2023 Deferred income tax assets / (liabilities) are attributable to the following items:

Local Foreign Local Foreign 31 December 2024 31 December 2023
currency currency Total currency currency Total Deferred income on fees on loans 885,584 803,410
Guarantees for letters of credit - 78,443 78,443 - 199,043 199,043 Decelerated depreciation 1,520,549 1,734,037
Provision of other debtors 616,031 618,129
Escrow accounts 25,744,877 52,993,958 78,738,835 33,614,795 46,964,755 80,579,550
Allowance for loan impairment 326,838 347,097
Payment orders to be executed 1,315,141 2,500,104 3,815,245 1,539,622 682,779 2,222,401 Fair value reserve for AFS securities 5,939,353 7,998,581
Other 3,726,300 2,204,422 5,930,722 5,873,225 3,235,787 9,109,012 Interest expenses on deposits 10,040 18,840
30,786,318 57,776,927 88,563,245 41,027,642 51,082,364 92,110,006 Net effect of IFRS 16 (207,166) (181,057)
9,091,229 11,339,037
Deposit guarantee for letters of credit represent the cash collateral held by the Bank against similar collateral provided by the Bank to
correspondent banks for letters of credit opened on behalf of its customers. 21. ACCRUALS AND OTHER LIABILITIES
Escrow accounts balance represents sums blocked until the completion of an operation or the extinction of a risk. Amounts registered 31 December 2024 31 December 2023
in these accounts mostly relate to cash coverage received from customers due to the issuance of bid and performance bonds by the Payments in transit 7,069,169 4,355,225
Bank or due to treasury bill transactions with Bank of Albania intermediated by the Bank. Other represents deposits that are pending Due to tax authorities 4,220,597 4,223,697
to be allocated into the relevant deposit category. Bonus payable 4,259,202 3,454,222
Creditors 3,888,857 3,595,665
18. DUE TO BANKS AND FINANCIAL INSTITUTIONS Foreign exchange contracts revaluation loss 3,248,911 3,899,869
Accrued expenses
3,337,916
3,424,438
Due to banks as of 31 December 2024 and 31 December 2023 consisted as follows: Liability for retiring employees (note 3(s).ii.) 758,452 749,795
Social insurance 485,385 452,204
31 December 2024 31 December 2023
Payables to constructors for home loans 364,094 385,339
Treasury bills sold under Repo agreements with Central Bank 137,699,134 75,682,472 Cash guarantees from suppliers 156,856 117,207
Securities sold under Repo agreement 30,552,031 12,589,916 27,789,439 24,657,661
Deposits from banks 61,715,731 62,961,517
Current accounts of non-resident banks 6,905,796 3,160,521
Current accounts of resident banks 94,593 100,396
Borrowing from financial institutions - 4,929,215
236,967,285 159,424,037

ANNUAL REPORT 2024 68