Banks – Illustrative disclosures

Your essential guide to disclosures for banks

Our Guides to financial statements help you to prepare and present financial statements in accordance with IFRS Accounting Standards.

Our Illustrative disclosures for banks illustrate one possible format for financial statements of a fictitious banking group that is involved in a range of general banking activities and is not a first-time adopter of IFRS Accounting Standards.

What’s new in 2024?

The 2024 edition reflects IFRS Accounting Standards in issue at 30 November 2024 that apply for annual periods beginning on 1 January 2024.

It also includes a reminder relating to the IFRS Interpretations Committee’s June 2024 agenda decision, Disclosure of Revenues and Expenses for Reportable Segments (IFRS 8).

Driving clarity in financial reporting

Investors and regulators have been raising concerns about the clarity of financial reporting, including climate reporting. Banks need to be clear on climate in their financial reporting and be ready for the additional scrutiny that will come with sustainability reporting.

In response to investors’ concerns, the International Accounting Standards Board (IASB) is focusing on presentation and disclosure matters in the financial statements. A number of amendments to the existing presentation and disclosure requirements become effective this year.

Connectivity provides the unifying principle in achieving clarity in corporate reporting. It ensures that the different elements of a company’s annual report make a coherent, connected and integrated whole. The three key areas of the annual report – the financial statements, the sustainability disclosures and management’s discussion and analysis (MD&A) – need to provide a complete picture of the company’s business model and strategy, connecting the dots between the financial and non-financial information.

For more about connectivity, see our Connected reporting page.

You can also follow 'KPMG IFRS' on LinkedIn and check out The KPMG view – IFRS Standards for more content and topical discussion.