Balance Sheet as at 31 December 2010
Cash and Balances with CBN
27,606,200
70,428,505
Due from other banks
66,815,068
101,663,746
short term investments
51,302,987
9,090,252
Loans and advances to customers
307,135,161
322,820,515
Advances under finance lease
5,071,279
6,962,870
Deferred taxation
4,757,142
7,858,279
Other Assets
18,109,748
22,113,953
long term investments
73,491,632
68,415,479
Investment Property
3,755,064
3,474,612
fixed Asset
36,750,856
37,567,390
Total Assets
594795137
650395601
Deposits
412,031,918
482,056,310
Taxation
1,995,250
3,653,521
Dividend payable
86,263
177,635
Due to other Banks
15,347,216
14,659,352
Long Term Borrowings
28,281,011
19,050,996
Other Liabilities
29,388,152
22,742,588
Deferred Taxation
580,464
1,962,128
Total Liabilities
487710274
544302530
Capital
7,237,622
7,237,622
Reserves
99,391,580
98,409,361
Total Capital and Reserves
701880000
756488672
Non-Controlling Interest
455,661
446,088
Total Liabilities, Capital and Reserves
594795137
650395601
off - Balance Sheet Engagements and Contingencies
228,845,811
123,992,746
For the year ended 31 December 2010
Gross Earnings
91022288
67735695
Interest and Discount income
65,296,437
50,745,637
Interest Expenses
1,057,448,455
1,048,845,910
Net Interest Income
49003068
25849723
Other Income
25,196,818
16,608,127
Operation Income
74,199,886
42,457,850
operating Expenses
1,027,177,281
1,043,654,523
Net Profit before Tax and Provision
27,635,343
12,370,549
Provision for Risk Assets
1,050,879,344
1,048,997,121
Profit/(loss)before taxation
4,772,863
1,061,367,670
Taxation
-3,444,208
4,199,741
Profit/(loss) after tax
1,328,655
1,065,567,411
Minority Interest
-40,241
32,402
Profit /(loss) after tax and Minority Interest
1288414
-8142011
Key Performance Information
Total Non-Performing loans & advances
51,121,674
68,234,243
Total Non-Performing loans to total loans & advances
0.14%
0.18%
Earnings per share (basic)
9k
(56)k
Earnings per share (diluted)
9k
(56)k
For the period ended 31 December 2010
Cash generated from operations
1,054,385,502
1,061,859,692
Net Value Added Tax remitted
1,072,936,969
-361,742
Tax paid
1,070,358,818
-979,612
Net cash inflow from operating activities
-23544183
-13223486
sale of long term investments
1,327,323
1,315,906
Addtion to investment property
-427,452
1,072,112,537
proceeds from sale of investment propert
147,000
805,262
purchase of property, plant and equipment
1,069,356,619
1,067,216,990
Purchase of long term investment securities
1,063,890,725
1,072,197,901
Proceeds from sale of property, plant and equipment
232,315
245,097
Net cash from investing activities
-12957118
-7331779
Dividend paid to shareholders
-91,372
1,072,453,125
Proceeds of new borrowings
15,510,000
7,420,500
Repayment of borrowings
1,067,461,839
1,061,664,211
Net cash inflow from financing activities
9138643
-5945812
Effect of exchange rate changes
on Cash and cash equivalents
-305,883
588,983
Increase/(Decrease) in cash and cash equivalents
1,046,073,283
1,047,829,730
Analysis of changes in cash and cash equivalents
Balance as at 1 May
170,016,028
195,928,122
Balance as at 30 April
142,347,487
170,016,028
Increase in Cash and cash equivalents
-27668541
-25912094
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
Cost to income ratio
-0.63%
Net Profit Margin (%)
0.01%
Equity capital to deposits
0.00%
Loan-to-deposits (LTD)
0.75%
Interest Income/Gross Earnings
0.72%
Non-Interest Income/Gross Earnings
4.53%
Cash Flow Indicator Ratios
Earning Retention Ratio
1.07%