Balance Sheet as at 31 December 2010
Cash in hand and balances with CBN
6,660,349
8,573,674
Treasury bills
6,023,587
9,607,738
Due from other banks
25,098,603
57,833,221
Loans and advances to customers
100,641,020
78,035,834
Advances under finance lease
3,112,998
4,548,757
Investment securities
104,322,487
27,505,802
Investment in associates
106,204
43,377
Investment properties
5,443,303
12,584,288
Other assets
15,918,279
12,421,527
Deferred tax assets
5,256,884
4,601,074
Property, plant and equipment
4,527,335
5,212,873
TOTAL ASSETS
277111049
221318165
Customers' deposits
203,074,678
161,276,895
Due to other banks
195,748
2,650,000
Current income tax payable
680,890
1,026,117
Other liabilities
21,920,642
20,674,674
Defined contribution obligations
51,071
54,945
Deferred tax liabilities
11,820
10,428
Long-term borrowing
25,058,101
14,201,550
TOTAL LIABILITIES
250992950
200244609
NET ASSETS
26118099
21073556
Share capital
6,281,545
6,281,545
Share premium
12,314,019
12,314,019
Share reserve
5,276,423
5,276,423
Retained earnings
1,071,464,631
1,066,420,088
Other reserves
4,523,305
4,523,305
Shareholders' Fund
26118099
21073556
Attributable to equity holders of the Bank
26,118,099
21,073,556
Guarantees and other commitments on behalf of customers
48908173
25198318
For the year ended 31 December 2010
Gross Earnings
34341616
46717490
Interest and similar income
25,187,507
34,009,601
Interest and similar expenses
1,062,665,641
1,053,128,204
Net interest margin
14,111,324
13,395,981
Fee and commission income
6,099,369
6,085,807
Net fee and commission income
6,099,369
6,085,807
Foreign exchange earnings/ loss
-11,804
994,697
Income f rom investments
671,266
2,668,755
Other income
2,395,279
2,958,630
Operating income
23,265,434
26,103,870
Operat ing expenses
1,057,958,910
1,051,673,506
Loan loss expenses
1,071,641,300
1,061,209,821
Diminution in value of other risk assets
-491,288
1,070,717,514
Group's share of post tax result of associates and joint ventures
64,135
-111,667
Profit/ (Loss) On Ordinary Activities before taxation
4,954,843
1,062,109,396
Profit/ (Loss) On Ordinary Activities after Taxation
5,044,543
1,064,722,222
Profit/ (Loss) Attributable To Equity Holders of the Bank
5,044,543
1,064,722,222
Profit/(loss) attributable to the group
Transfer to general reserve
5,044,543
1,064,722,222
Total non-performing loan
12,888,439
22,842,806
Total non-performing loan as % of gross loan
0%
0%
Earnings per share ( kobo) - Basic
40k
( 72)k
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
0.68%
Return on Net Worth(%)
0.19%
Cost to income ratio
-0.68%
Capital Adequacy Ratio
0.09%
Net Profit Margin (%)
0.15%
Equity capital to deposits
0.13%
Loan-to-deposits (LTD)
0.50%
Interest Income/Gross Earnings
0.73%
Non-Interest Income/Gross Earnings
5.91%
Cash Flow Indicator Ratios