Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information 30. Related Party Disclosures continued The volumes of related party transactions, outstanding balances at the year-end, and related expenses and income for the year are as follows: 2018 2017 2016 Key Key Key management management management Associates personnel* Associates personnel* Associates personnel* Loans outstanding at 1 January, gross 17,053 2,913 15,247 2,006 13,541 1,258 Loans issued during the year – 3,390 15,831 5,536 337 2,035 Loan repayments during the year – (3,118) (15,655) (5,983) (640) (1,236) Other movements** (17,053) (1,429) 1,630 1,354 2,009 (51) Loans outstanding at 31 December, gross – 1,756 17,053 2,913 15,247 2,006 Less: allowance for impairment at 31 December – (1) – – – – Loans outstanding at 31 December, net – 1,755 17,053 2,913 15,247 2,006 Interest income on loans – 78 1,329 161 1,243 148 Deposits at 1 January 2,005 38,842 1,241 28,419 1,419 20,129 Deposits received during the year – 10,304 50 32,082 1,163 14,447 Deposits repaid during the year (1,177) (1,535) (535) (11,826) – (446) Other movements** (19) (32,863) 1,249 (9,833) (1,341) (5,711) Deposits at 31 December 809 14,748 2,005 38,842 1,241 28,419 Interest expense on deposits – (405) (2) (446) – (614) Other income – – – 98 – 115 Deferred income – – – 1,740 – – Real estate revenue – – – 1,924 – – * Key management personnel includes members of BOGG’s Board of Directors and key executives of the Group. **Other movements mainly relate to the Demerger. Details of Directors’ emoluments are included in the Remuneration Report on pages 129 to 148. Compensation of key management personnel comprised the following: 2018 2017 2016 Salaries and other benefits 7,486 10,595 7,735 Share-based payments compensation* 73,092 43,334 40,679 Long-term benefits – 2,243 – Social security costs 69 82 51 Total key management compensation 80,647 56,254 48,465 * I n 2018, share-based compensation included an amount of GEL 17,958 (2017: nil, 2016: GEL 9,820) for key management personnel reflected in the non-recurring items and GEL 29,065 reflected in discontinued operations. Key management personnel do not receive cash-settled compensation, except for fixed salaries. The major part of the total compensation is share-based (Note 26). The number of key management personnel at 31 December 2018 was 16 (31 December 2017: 21, 31 December 2016: 18). Annual Report 2018Bank of Georgia Group PLC 281