United Bank for Africa Plc
Balance Sheet as at 31 December 2010
Cash and balances with central banks
68,056
68,225
Treasury bills and other eligible bills
123,455
42,035
Due from other banks
302,272
470,195
Loans and advances to customers
628,811
606,616
Investment securities
384,453
188,407
Investment in joint venture
939
245
Investment in associates
9,179
9,261
Property and equipment
65,200
73,042
Total Assets
1617696
1548281
Ordinary share capital
12,934
10,778
Share premium account
111,489
113,645
Revaluation reserve on fixed assets
11,231
Attributable to equity holders of the parent
176,529
Non-controlling interest
2,897
5,316
Total equity
179426
186829
Total equity and liabilities
1617696
Customers’ deposits
1,267,171
1,245,650
Due to other banks
7,456
15,807
Liability on investment contracts
33,090
22,138
Current income tax
2,794
3,385
Other liabilities
43,599
58,187
Deferred income tax liabilities
30
2
Retirement benefit obligations
1,986
1,503
Total Liabilities
1438270
1361948
Total equity and liabilities
1548281
Acceptance and guarantees
689479
Off-balance sheet engagements and contingencies
654360
For the year ended 31 December 2010
Gross Earnings
185186
246725
Interest and similar income
117,745
Interest and similar expense
-46,969
Net Interest income
70,776
Net operating income
138,217
187,066
Operating expenses
-103,981
-135,228
Diminution in asset values
-18,213
Share of loss in associate
-82
Share of loss in joint venture
-56
Provision for losses
-38,176
Profit before taxation and exceptional items
15,885
13,662
Exceptional items
-12,666
-7,025
Profit after taxation and exceptional items
598
2375
Non-controlling interest
70
-262
Profit attributable to shareholders
668
2113
Earnings per share (basic) – kobo
10
For the period ended 31 December 2010
Cash flows from operating activities
Cash generated from operations
54,492
-262,976
Net cash (used in)/from operating activities
47676
-270695
cash flows from investing activities
Purchase of long-term investment
-202,425
13,141
sale of short term investment
5,811
118,936
Dividend received
1,475
363
Investment in subsidiary
-4,268
Additional investment in joint venture and associate
-750
-9,348
Treasury bills and government bond held to maturity
66,568
69,363
Purchase of treasury bills and government bonds held to maturity
-69,363
Proceeds on disposal of investment property
269
1,820
Purchase of property, plant and equipment
-5,381
-28,319
Proceeds from sale of property and equipment
2,528
4,227
Net cash used in investing activities
-265041
27189
Cash flows from financing activities
Dividend paid to shareholders
-2,156
-12,934
Proceeds from long-term loan
67,344
14,760
Net cash from/(used in) financing activities
65188
1435
(Decrease)/increase in cash and cash equivalents
-152177
-242071
Analysis of changes in cash and cash equivalents
At start of period
526,085
768,156
At end of period
373,908
526,085
(Decrease)/increase in cash and cash equivalents
-152177
-242071
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
0.75%
Return on Net Worth(%)
0.00%
Cost to income ratio
-0.75%
Capital Adequacy Ratio
0.11%
Net Profit Margin (%)
0.00%
Equity capital to deposits
0.14%
Loan-to-deposits (LTD)
0.50%
Interest Income/Gross Earnings
0.64%
Non-Interest Income/Gross Earnings
6.84%
Cash Flow Indicator Ratios
Earning Retention Ratio
4.61%