SFIL Annual financial report 2018
3 I Consolidated financial statements in accordance with IFRS 96 SFIL Annual Financial Report 2018 Fair value of financial assets 12/31/2017 Level 1 (1) Level 2 (2) Level 3 (3) Total Central banks 2,560 - - 2,560 Loans and advances due from banks 16 - 291 307 Loans and advances to customers 488 2,868 50,644 54,000 Sub-total assets at amortized cost 3,064 2,868 50,935 56,867 Financial assets available for sale 1,863 927 - 2,790 Derivatives - 4,155 560 4,715 Sub-total fair value assets 1,863 5,082 560 7,505 TOTAL 4,927 7,950 51,495 64,372 Fair value of financial assets 12/31/2018 Level 1 (1) Level 2 (2) Level 3 (3) Total Central banks 1,927 - - 1,927 Financial assets at fair value through net income - 2 5,584 5,586 Financial assets at fair value through OCI 590 963 10 1,563 Loans and advances due from banks at amortized cost 7 - 247 254 Loans and advances to customers at amortized cost - - 44,201 44,201 Bonds at amortized cost 2,488 3,782 1,895 8,165 Hedging derivatives - 3,453 962 4,415 TOTAL 5,012 8,200 52,899 66,111 Fair value of financial liabilities 12/31/2017 Level 1 (1) Level 2 (2) Level 3 (3) Total Due to the banks - 4,259 - 4,259 Debt securities - 57,603 - 57,603 Sub-total liabilities at amortized cost - 61,862 - 61,862 Derivatives - 7,166 901 8,067 Sub-total liabilities at fair value - 7,166 901 8,067 TOTAL - 69,028 901 69,929 Fair value of financial liabilities 12/31/2018 Level 1 (1) Level 2 (2) Level 3 (3) Total Financial liabilities at fair value through net income - 858 371 1,229 Due to banks at amortized cost - 1,934 - 1,934 Debt securties at amortized cost - 59,968 - 59,968 Hedging derivatives - 5,711 423 6,134 TOTAL - 68,471 794 69,265 (1) Price quoted on active market for the same type of instrument. (2) Price listed on an active market for an instrument that is similar (but not exactly the same) or use of a valuation technique in which all significant inputs are observable. (3) Use of a valuation technique in which all the significant parameters are not abservable. Sensitivity of the market value of level 3 financial instruments to changes in reasonably possible hypotheses The following table gives a synthetic view of financial instruments in level 3 for which changes in hypotheses concerning one or more non observable parameter would cause a significant change in market value. These amounts illustrate the interval of uncertainty inherent in the recourse to judgment in estimating parameters of level 3 or in the choice of valuation techniques and models. They reflect the uncertainty of valuation which is e ective at the date of valuation. Although this uncertainty essentially results from the sensitivity of the portfolio at the date of valuation, it does not make it possible to foresee or to deduct future variations in the market value any more than they represent the e ect of extreme market conditions on the value of the portfolio. To estimate sensitivity, SFIL either values fnancial instruments using reasonably possible parameters or applies hypotheses based on its policy of additional valuation adjustments. 12/31/2017 12/31/2018 Uncertainty inherent in level 3 market parameters 5 8 Uncertainty inherent in level 3 derivatives valuation models 36 37 Sensitivity of the market value of level 3 financial instruments 41 45
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