Notes to the Group’s Financial Statements
Select note 1–42
| 14 Investments in associates | ||||||
| Associates that have been accounted for by the equity method at 31 Dec. 2016 | ||||||
| EURm Name |
Domicile | Carrying amount | Fair value*) | Interest held % | ||
| Nordea Bank Abp | Sweden | 7,554 | 9,124 | 21.25 | ||
| Topdanmark A/S | Denmark | 554 | 955 | 45.38 | ||
| Autovahinkokeskus Oy | Finland | 3 | 35.54 | |||
| CAP Group AB | Sweden | 2 | 21.98 | |||
| Svithun Assuranse AS | Norway | 1 | 33.00 | |||
| Contemi Holding AS | Norway | 0 | 28.57 | |||
| SOS International A/S | Denmark | 7 | 25.20 | |||
| Associates that have been accounted for by the equity method at 31 Dec. 2015 | ||||||
| EURm Name |
Domicile | Carrying amount | Fair value*) | Interest held % | ||
| Nordea Bank Abp | Sweden | 7,305 | 8,735 | 21.25 | ||
| Topdanmark A/S | Denmark | 362 | 827 | 32.9 | ||
| Autovahinkokeskus Oy | Finland | 3 | 35.54 | |||
| CAP Group AB | Sweden | 2 | 21.98 | |||
| Urzus Group AS | Norway | 1 | 28.57 | |||
| Svithun Assuranse AS | Norway | 1 | 33.00 | |||
| Watercircles Skandinavia AS (Norway) | Norway | 3 | 35.75 | |||
| Contemi Holding AS | Norway | 1 | 28.57 | |||
| *) Published price quatation | ||||||
| Changes in investments in associates | ||||||
| 2016 | 2015 | |||||
| EURm | Nordea | Other associates | Total | Nordea | Other associates | Total |
| At beginning of year | 7,305 | 374 | 7,679 | 7,065 | 382 | 7,447 |
| Share of loss/profit | 773 | 65 | 837 | 751 | 42 | 793 |
| Additions | - | 205 | 205 | - | 1 | 1 |
| Disposals | -551 | -5 | -555 | -533 | -1 | -534 |
| Changes in the equity of associates | 27 | -86 | -59 | 23 | -51 | -28 |
| Exchange differences | - | 0 | 0 | - | 0 | 0 |
| At end of year | 7,554 | 553 | 8,107 | 7,305 | 374 | 7,679 |
| The carrying amount of investments in associates included goodwill EURm 1,201 (1,101), including goodwill from the Nordea acquisition EURm 978 (978). | ||||||
| Sampo's holding in Nordea | ||||||
| Nordea is an universal bank with positions within corporate merchant banking as well as retail banking and private banking. With approximately 700 branches, call centers in all Nordic countries and an e-bank, Nordea also has a large distribution network for customers in the Nordic and Baltic sea region. | ||||||
| Financial information on Nordea | ||||||
| EURm | 2016 | 2015 | ||||
| Assets | 615,659 | 646,868 | ||||
| Liabilities | 583,249 | 615,836 | ||||
| Revenue | 9,927 | 10,140 | ||||
| Other comprehensive income items | 165 | 13 | ||||
| Comprehensive income statement | 3,766 | 3,675 | ||||
| Dividend income from the associate during the financial year | 551 | 533 | ||||
| Sampo's share of Nordea's loss/profit consists of the following as of 31 Dec. 2016 | ||||||
| EURm | 2016 | 2015 | ||||
| Share of loss/profit of the associate | 800 | 778 | ||||
| Amortisation of the customer rlations | -35 | -35 | ||||
| Change in deferred tax | 8 | 8 | ||||
| Share of the loss/profit of an associate | 773 | 751 | ||||
The tables for the Financial Statements are also available in Excel format.