Balance Sheet as at 31 March 2009
Cash and short term funds
325,530
108,524
Due from banks and other financial institutions
37,381,754
36,270,934
Investments
16,921,800
15,039,147
Federal Government securities
5,273,848
8,573,848
Mortage loans and Advances
16,065,222
14,129,802
Other Assets
6,333,483
2,063,293
Fixed assets
2,753,768
2,239,991
Total Assets
85055405
78425539
Deposits
53,223,639
46,579,699
Due to other banks
20,400,000
15,600,000
Tax payable
300,492
284,609
Deferred taxation
309,843
285,570
Other liabilities
3,173,887
4,895,442
Total Liabilities
77407861
67645320
Called-up share capital
3,906,250
3,125,000
Share premium
1,212,963
1,212,963
Statutory reserve
2,035,032
2,992,771
General Reserve
61,128
2,931,886
Shareholders fund
7215373
10262620
National Housing fund
432,171
517,599
Bonus issue Applied
781,250
625,000
For the year ended 31 March 2009
Gross Earnings
9816634
8916216
Loss before taxation
1,071,825,429
2,354,441
Current Taxation
-305,090
-343,610
Deferred taxation
-24,273
-13,597
Loss after taxation
1,071,496,066
1,997,234
Dividend paid
625,000
250,000
Per 50 kobo share data: (Adjusted)
Stock exchange quotation
N1.41
N8.80
For the period ended 31 March 2009
Cash flow from operating activities
Interest and other incomes
11,161,098
8,659,590
Interest payments
1,068,728,581
1,069,828,783
Cash payments to employees and suppliers
1,070,049,830
1,070,681,011
Operating profit before changes in operating assets/liabilities
2455861
1685736
Movement in operating assets and liabilities
Mortage and other loans and advances
1,070,539,570
1,070,970,755
Other assets
1,069,437,709
-318,126
Customers Deposits
6,643,940
1,072,533,174
Due to other banks
4,800,000
6,600,000
National Housing fund
-85,428
128,585
Other liabilities
1,072,020,269
1,474,401
Cash Generated from operating activities
4586449
5590887
Income and Education taxes paid
-289,207
-159,480
Net cash from operating activities
4297242
5431397
Dividend paid
-625,000
-250,000
Share increase expenses
-176,489
-43,620
Net cash used in financing activities
-801489
-293620
Purchase of Federal Government of Nigeria's bond
3,300,000
-687,302
Purchase of investments
1,068,929,896
1,071,883,171
Purchase of fixed assets
1,072,923,139
-689,608
Proceeds from disposal of fixed assets
5,833
5,150
Net cash used in investing activities
-2324780
-3230413
Net increase in cash and cash equivalents
1,170,973
1,907,364
Cash and cash equivalents at 1 April
36,847,281
34,939,917
Cash and cash equivalents at 31 March
38018254
36847281
Cash and short term funds
325,530
108,524
Due from Banks and other financial institutions
37,692,724
36,738,757
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
Gross Profit Margin(%)
-0%
Return On Capital Employed(%)
Return On Net Worth(%)
-0%
Liquidity And Solvency Ratios
Number of Days In Working Capital
Cash Flow Indicator Ratios
Total Assets Turnover Ratio
Fixed Assets Turnover Ratio
4