33. Other assets
Accounting policies
Financial assets recognized in this item are stated at amounts due, comprising also potential interest on such assets, taking into consideration impairment allowances on expected loan losses. Non-financial assets are measured in accordance with the valuation principles applicable to specific categories of assets recognized in this item.
2018
Financial information
| Other assets 1 | 31.12.2018 | 31.12.2017 |
|---|---|---|
| Settlements in respect of card transactions | 1 629 | 1 136 |
| Settlement of financial instruments | 82 | 284 |
| Receivables in respect of cash settlements | 189 | 158 |
| Receivables and settlements in respect of trading in securities | 32 | 94 |
| Settlements relating to selling foreign currencies | – | 2 |
| Inventories | 103 | 186 |
| Assets for sale | 82 | 107 |
| Prepayments | 222 | 286 |
| Trade receivables | 164 | 209 |
| VAT receivable | 148 | 114 |
| Ceded technical reserves | 672 | 472 |
| Other | 131 | 63 |
| Total | 3 454 | 3 111 |
| of which: other financial assets | 2 825 | 2 377 |
1 As at 31 December 2018 “Inventories” were described in the Note “Other assets” – comparative data as at 31 December 2017 was restated.
| Other assets – inventories | 31.12.2018 | 31.12.2017 |
|---|---|---|
| Goods for resale | 102 | 190 |
| Finished goods | – | 10 |
| Available for sale investments – construction projects | 1 | – |
| Materials | 11 | 7 |
| Impairment allowances on inventories | (11) | (21) |
| Total | 103 | 186 |
Management of foreclosed collateral– item “assets for sale”
Foreclosed collaterals as a result of restructuring or debt collection activities are either designated for sale or used by the Group for internal purposes. Details of the foreclosed assets are analysed in order to determine whether they can be used by the Group for internal purposes.
All of the assets foreclosed as a result of restructuring and debt collection activities in the years ended 31 December 2018 and 31 December 2017, respectively, were designated for sale. Activities undertaken by the Group are aimed at selling assets as soon as possible.
The primary procedure for the sale of assets is an open tender. In justified cases, the sale follows a different procedure depending on the specifics of the sold property.