Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 5. Discontinued Operations continued The difference between profit for the year and profit from discontinued operations presented in consolidated income statements is due to intra-group eliminations in amount of GEL 2,238 net income for the year ended 31 December 2018 (2017: GEL 4,861 net expense, 2016: GEL 600 net income). Below are presented other comprehensive statement line items of the Group attributable to discontinued operations for the period ended 29 May 2018, 31 December 2017 and 31 December 2016: Year ended Year ended Period ended 31 December 31 December 29 May 2018 2017 2016 Other comprehensive (loss) income Other comprehensive (loss) income from discontinued operations to be reclassified to profit or loss in subsequent periods: – Net change in fair value on investments in debt instruments measured at FVOCI (695) – – – Realised loss on financial assets measured at FVOCI reclassified to the consolidated income statement 650 – – – (Loss) gain from currency translation differences (10,836) (3,850) 1,429 Net other comprehensive (loss) income from discontinued operations to be reclassified to profit or loss in subsequent periods (10,881) (3,850) 1,429 Other comprehensive (loss) income from discontinued operations not to be reclassified to profit or loss in subsequent periods: – Revaluation of property and equipment – (4,564) 20,804 Other comprehensive (loss) income for the year from discontinued operations (10,881) (8,414) 22,233 Total comprehensive income for the year from discontinued operations 97,017 90,374 154,514 Investment Business distribution is accounted for as a deduction from equity reserves in the amount of the estimated fair value of the distributed business. Fair value of the distributed business was determined to be equal to the market value of GCAP’s shares on the close of the listing date reduced for any cross-holding interest. The cross-holding interest originated on Demerger since the Group had further issued 9,784,716 BOGG Shares (equivalent to 19.9% of BOGG’s issued ordinary share capital) to GCAP in consideration for the transfer to BOGG of GCAP’s stake in the JSC Bank of Georgia and JSC BG Financial. Fair value of the cross-holding interest was determined with reference to BOGG’s quoted market price on the close of the Demerger date adjusted for 12% holding discount determined with reference to observable information on discounts to net assets value for listed investment funds. The gain from Investment Business distribution amounted to GEL 90,653 reflected in profit from discontinued operations. 212 Annual Report 2018Bank of Georgia Group PLC