TMBThanachart Bank Public Company Limited and its Subsidiaries (Formerly TMB Bank Public Company Limited and its Subsidiaries) Notes to the financial statements For the year ended 31 December 2021 129 46 Reclassification of accounts Certain accounts in the 2020 financial statement, have been reclassified to conform to the presentation in the 2021 financial statements. The reclassifications were as follows: Consolidated Before After reclassification Reclassification reclassification (in million Baht) Statement of income Fees and service income 15,921 218 16,139 Fees and service expenses 5,346 (555) 4,791 Other operating income 1,644 (218) 1,426 Other operating expenses -Employee expenses 16,535 607 17,142 Other operating expenses -Others 7,051 (52) 6,999 - The reclassifications have been made because, in the opinion of management, the new classification is more appropriate to the Bank’s business. 47 Thai Financial Reporting Standards (TFRS) not yet adopted 47.1 Interbank Rate Benchmark Reform - Phase 2 Revised TFRS due to Interbank Offer Rate (IBOR) reform - Phase 2, which are relevant to the Bank and its subsidiaries’ operations, expected to have material impact on the consolidated and Bank only’s financial statements when initially adopted, and will become effective for the financial statements in annual reporting periods beginning on or after 1 January 2022, are as follows: TFRS Topic TFRS 7 Financial Instruments: Disclosures TFRS 9 Financial Instruments The amendments are applicable when an existing interest rate benchmark is replaced by another interest rate benchmark. The amendments provide a practical expedient that modifications to asset and liability values as a direct consequence of the interest rate benchmark reform and the new basis for determining the contractual cash flows is economically equivalent to the previous basis (i.e. the basis immediately preceding the change), can be accounted for by only updating the effective interest rate. 373 Form 56-1 One Report 2021
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