NIB - 9. Intangible assets, tangible assets (property and equipment)

Nordic Investment Bank – Annual Report 2010

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(9) INTANGIBLE ASSETS, TANGIBLE ASSETS (PROPERTY AND EQUIPMENT)

The Bank's intangible assets amounted to EUR 5.2 (6.7) million.

	Computer software development costs, total	Computer software development costs, total
(Amounts in EUR 1,000)	2010	2009
Intangible assets
Acquisition value at the beginning of the year	17,920	15,415
Acquisitions during the year	1,197	2,505
Sales/disposals during the year	-	-
Acquisition value at the end of the year	19,117	17,920

Accumulated amortisation at the beginning of the year	11,216	8,599
Amortisation according to plan for the year	2,742	2,618
Accumulated amortisation on sales/disposals during the year	-	-
Accumulated amortisation at the end the of the year	13,958	11,216
Net book value	5,158	6,703

As of 31 December 2010, the historical cost of buildings and land was recognised in the statement of financial position (net of depreciation on the buildings in accordance with the depreciation plan) at EUR 25.7 (26.3) million.

The value of office equipment and other tangible assets is recognised at EUR 6.2 (7.1) million.

2010
(Amounts in EUR 1,000)	Buildings	Office equipment and other tangible assets	Total
Tangible assets
Acquisition value at the beginning of the year	33,739	16,480	50,219
Acquisitions during the year	-	450	450
Sales/disposals during the year	-	-123	-123
Acquisition value at end of the year	33,739	16,807	50,546

Accumulated depreciation at the beginning of the year	7,409	9,353	16,762
Depreciation according to plan for the year	670	1,323	1,993
Accumulated depreciation on sales/disposals during the year	-	-97	-97
Accumulated depreciation at the end of the year	8,079	10,579	18,658
Net book value	25,660	6,228	31,888

On each closing date, the Bank's assets are assessed to determine whether there is any indication of an asset's impairment. As of 31 December 2010, there were no indications of impairment of the intangible or tangible assets.

2009
(Amounts in EUR 1,000)	Buildings	Office equipment and other tangible assets	Total
Tangible assets
Acquisition value at the beginning of the year	33,739	15,731	49,471
Acquisitions during the year	-	814	814
Sales/disposals during the year	-	-65	-65
Acquisition value at the end of the year	33,739	16,480	50,219

Accumulated depreciation at the beginning of the year	6,739	7,625	14,364
Depreciation according to plan for the year	670	1,786	2,456
Accumulated depreciation on sales/disposals during the year	-	-58	-58
Accumulated depreciation at the end of the year	7,409	9,353	16,762
Net book value	26,331	7,127	33,457

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