First City Monument Bank Plc
Balance Sheet as at 31st December 2010
Cash and Balances with CBN
13,406,893
9,010,895
Treasury Bills
22,588,314
8,521,058
Due from other banks
57,311,736
121,786,201
Dealing securities
7,280,644
Loans and advances
326,899,532
238,732,090
Advances under finance lease
3,521,022
1,165,896
Investment Securities
74,188,921
34,482,892
Deferred taxation
572,053
1,086,256
Goodwill on consolidation
6,074,045
6,074,045
Other Assets
13,818,756
13,662,332
Investments Property
131,778
Investment Associate
145,000
Property, Plant and Equiptment
19,932,832
21,817,923
Total Assets
538590882
463620323
share Capital
8,135,596
8,135,596
Share premium
108,369,199
108,369,199
Reserves
18,265,715
13,088,249
Shareholders' funds
134770510
Liabilities and equity
538590882
Tax payable
1,867,603
2,451,430
Customer Deposits
334,821,192
266,012,607
Due to other Banks
580,784
13,681,208
Other Liabilities
40,813,679
20,328,304
Deferred Tax liabilities
20,192
1,083,436
Borrowings
25,116,189
30,178,530
Retirement benefit obligations
600,733
291,673
Acceptances and guarantees
65249741
50492799
For the year ended 31 December 2010
Gross Earnings
62,673,604
35,789,264
Interest and Discount income
43,631,945
Interest Expenses
-21698007
Net Interest Income and discount income
21933938
Operation Income
40,014,372
operating Expenses
1,042,262,925
Allownace for losses
439,415
Share of post tax result of associate
50,854
Profit/(loss) before tax
9,025,742
856,600
Profit/(loss) after tax
7,934,971
564,338
Transfer to Reserves
564,338
Key Performance Information
Total Non-Performing loans & advances
19,298,201
Total Non-Performing loans to total gross loans and advance (%)
0.06%
Earnings per share (basic/diluted)
6k
Earnings per share (Basic)
49k
Earnings per share (adjusted)
For the period ended 31 December 2010
Cash generated from operations
1,066,621,068
1,028,172,882
Tax paid
1,071,518,185
1,072,358,175
Net cash inflow from operating activities
-9646804
-46952591
Short term borrowings/ repayment
1,068,557,273
18,874,033
Long term borrowings/repayment
122,210
120,565
Purchase considerations to acquire subsidiaries
-6,900,000
Cash and cash equivalent from subsidiaries acquired
8,804,927
Dividend income
1,594,490
108,371
Proceeds from disposal of investment securities
2,116,690
373,067
Purchase of investment securities
1,037,838,793
1,069,129,892
Purchase sale of dealing securities
3,085,381
-5,146,544
Proceeds from disposal of property, plant and equipment
121,697
31,808
Purchase of investment property
131,778
Purchase of property, plant and equipment
-2,465,912
1,070,913,054
Decrease in cash and cash equivalents
1,026,900,212
1,035,614,758
Analysis of changes in cash and cash equivalents
Balance at beginning of the period
137,345,575
175,472,641
Balance at end of period
90,503,963
137,345,575
Decrease in Cash and cash equivalents
-46841612
-38127066
Investment Valuation Ratios
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
Return on Net Worth(%)
0.06%
Net Profit Margin (%)
0.13%
Equity capital to deposits
Loan-to-deposits (LTD)
0.98%
Interest Income/Gross Earnings
0.64%
Non-Interest Income/Gross Earnings
5.34%
Cash Flow Indicator Ratios
Earning Retention Ratio
1.10%