Annual Report 2015
133
23 FAIR VALUE
(continued)
23.2 Fair value and fair value hierarchies
(continued)
23.2.2 Transfers between Level 1 and 2
For the year ended September 30, 2015, no assets were transferred between Level 1 and Level 2.
23.2.3 Reconciliation of movements in Level 3 financial instruments measured at fair value
Balance at
Disposals
beginning
Exchange
/Transfers
Balance at
of year
adjustments
Additions
to Level 2
end of year
Financial assets designated
at fair value through
profit or loss
–
–
1,001
(894)
107
Financial investments -
available-for-sale
8,825
–
–
(24)
8,801
8,825
–
1,001
(918)
8,908
24 MATERIAL PARTLY-OWNED SUBSIDIARIES
Financial information of subsidiaries that have material non-controlling interests is provided below:
Proportion of equity interest held by non-controlling interests:
Name
Country of incorporation
and operation
2015
2014
HFC Bank (Ghana) Limited
Ghana
42.89%
60.13%
Republic Bank (Guyana) Limited
Guyana
49.00%
49.00%
Accumulated balances of material
non-controlling interest:
HFC Bank (Ghana) Limited
141,499
–
Republic Bank (Guyana) Limited
228,330
202,167
Profit/(loss) allocated to material
non-controlling interest:
HFC Bank (Ghana) Limited
(32,263)
–
Republic Bank (Guyana) Limited
41,808
35,192
The summarised financial information of these subsidiaries is provided in Note 25 (i) of these financial statements.
