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| 5 Year Financial Summary |
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| 5 Financial Summary in Naira | 5 Financial Summary in USD |
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| » 5 Financial Summary in Naira |
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BANK |
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2008 |
2007 |
2006 |
2005 |
2004 |
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N'000 |
N'000 |
N'000 |
N'000 |
N'000 |
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| ASSETS EMPLOYED |
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Cash and short
term funds |
1,108,827,501 |
563,581,290 |
360,291,162 |
180,407,249 |
121,891,453 |
| Loans and advances |
413,731,491 |
218,305,419 |
199,707,860 |
122,494,396 |
53,391,209 |
| Other Facilities |
5,801,093 |
4,701,891 |
2,263,125 |
3,168,585 |
- |
Advances under finance
lease |
3,890,435 |
2,444,566 |
1,716,364 |
841,165 |
847,861 |
| Other assets |
29,667,893 |
14,839,588 |
9,105,717 |
4,755,887 |
3,294,490 |
| Investments |
70,297,916 |
45,524,242 |
14,581,735 |
6,139,063 |
4,427,083 |
| Fixed assets |
48,085,676 |
34,543,930 |
23,102,337 |
15,078,751 |
9,469,393 |
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1,680,302,005 |
883,940,926 |
610,768,300 |
332,885,096 |
193,321,489 |
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| FINANCED BY |
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| Share capital |
8,372,398 |
4,632,762 |
4,586,744 |
3,000,000 |
1,548,555 |
| Share premium |
255,046,965 |
69,237,062 |
67,759,567 |
18,224,108 |
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Reserves for
Small Scale
Industries |
3,729,204 |
3,729,204 |
3,729,204 |
2,580,324 |
1,864,731 |
| Other reserves |
71,335,571 |
35,234,295 |
24,325,150 |
13,985,230 |
12,261,082 |
| Deposits |
1,161,475,513 |
568,012,091 |
392,863,699 |
233,413,428 |
131,095,341 |
| Other liabilities |
134,462,237 |
170,087,697 |
98,183,675 |
56,013,477 |
44,920,930 |
| Other Facilities |
5,859,690 |
4,749,385 |
2,263,125 |
3,168,585 |
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| Taxation |
3,549,113 |
5,124,697 |
3,857,258 |
2,050,066 |
1,363,979 |
Deferred
taxation |
1,901,667 |
1,186,018 |
449,878 |
449,878 |
266,871 |
| Borrowings |
34,569,647 |
21,947,715 |
12,750,000 |
- |
- |
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1,680,302,005 |
883,940,926 |
610,768,300 |
332,885,096 |
193,321,489 |
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Acceptances and
guarantees |
704,386,584 |
294,444,783 |
149,203,099 |
41,004,756 |
21,905,277 |
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| Gross Earnings |
190,075,034 |
89,193,780 |
58,221,823 |
34,913,462 |
23,931,255 |
| Interest expense |
(49,962,969) |
(18,733,167) |
(10,462,632) |
(5,620,169) |
(3,331,910) |
| Operating expenses |
(85,094,715) |
(45,388,460) |
(31,298,175) |
(18,153,540) |
(13,797,311) |
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| Loan loss expense |
(6,077,405) |
(1,783,325) |
(1,306,925) |
(1,974,966) |
(397,149) |
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Profit before
tax |
48,939,945 |
23,288,828 |
15,154,091 |
9,164,787 |
6,404,885 |
| Income tax |
(2,414,954) |
(5,779,683) |
(3,665,291) |
(2,008,861) |
(1,214,117) |
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Profit after
tax |
46,524,991 |
17,509,145 |
11,488,800 |
7,155,926 |
5,190,768 |
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| Dividend proposed |
- |
9,265,524 |
6,600,000 |
4,200,000 |
2,167,977 |
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| Dividend |
9,265,524 |
6,600,600 |
4,200,000 |
2,167,977 |
1,083,989 |
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Transfer to
reserves |
55,790,515 |
14,483,621 |
9,088,800 |
5,123,903 |
4,106,780 |
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Earnings per
share (basic): |
345k |
189k |
191k |
136k |
168k |
Earnings per
share(adjusted): |
278k |
105k |
124k |
119k |
86k |
Declared Dividend per
share**: |
170 k |
100k |
110k |
70k |
70k |
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| » 5 Financial Summary in USD |
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BANK |
| |
2008 |
2007 |
2006 |
2005 |
2004 |
|
USD'000 |
USD'000 |
USD'000 |
USD'000 |
USD'000 |
|
|
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| ASSETS EMPLOYED |
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Cash and short
term funds |
9,423,436 |
4,488,899 |
2,844,329 |
1,362,901 |
921,675 |
| Loans and advances |
3,516,122 |
1,738,793 |
1,576,600 |
925,394 |
403,714 |
| Other Facilities |
49,301 |
37,450 |
17,866 |
23,937 |
- |
Advances under finance
lease |
33,063 |
19,471 |
13,550 |
6,355 |
6,411 |
| Other assets |
252,134 |
118,197 |
71,885 |
35,929 |
24,911 |
| Investments |
597,431 |
362,599 |
115,116 |
46,378 |
33,475 |
| Fixed assets |
408,659 |
275,141 |
182,382 |
113,914 |
71,602 |
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14,280,147 |
7,040,549 |
4,821,728 |
2,514,808 |
1,461,788 |
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| FINANCED BY |
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| Share capital |
71,153 |
36,900 |
36,210 |
22,664 |
11,709 |
| Share premium |
2,167,532 |
551,470 |
534,930 |
137,676 |
- |
Reserves for
Small Scale
Industries |
31,693 |
29,703 |
29,440 |
19,493 |
14,100 |
| Other reserves |
606,249 |
280,640 |
192,036 |
105,653 |
92,711 |
| Deposits |
9,870,869 |
4,524,190 |
3,101,474 |
1,763,341 |
991,269 |
| Other liabilities |
1,142,735 |
1,354,741 |
775,114 |
423,158 |
339,667 |
| Other Facilities |
49,799 |
37,829 |
17,866 |
23,937 |
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| Taxation |
30,162 |
40,818 |
30,451 |
15,487 |
10,314 |
Deferred
taxation |
16,161 |
9,447 |
3,552 |
3,399 |
2,018 |
| Borrowings |
293,792 |
174,813 |
100,655 |
- |
- |
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14,280,146 |
7,040,549 |
4,821,728 |
2,514,808 |
1,461,788 |
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| Acceptances and guarantees |
5,986,271 |
2,345,239 |
1,177,888 |
309,774 |
165,635 |
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| Total assets plus contingents |
20,266,418 |
9,385,788 |
5,999,616 |
2,824,581 |
1,627,424 |
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| Gross Earnings |
1,615,364 |
710,424 |
459,634 |
263,757 |
180,955 |
| Interest expense |
(424,613) |
(149,209) |
(82,598) |
(42,458) |
(25,194) |
| Operating expenses |
(723,182) |
(361,517) |
(247,084) |
(137,142) |
(104,327) |
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| Loan loss expense |
(51,649) |
(14,204) |
(10,318) |
(14,920) |
(3,003) |
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Profit before
tax |
415,919 |
185,494 |
119,634 |
69,236 |
48,430 |
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| Income tax |
(20,524) |
(46,035) |
(28,936) |
(15,176) |
(9,180) |
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Profit after
tax |
395,395 |
139,460 |
90,699 |
54,060 |
39,250 |
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| Dividend proposed |
- |
73,799 |
52,104 |
31,729 |
16,393 |
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| Dividend |
78,744 |
52,569 |
33,157 |
16,378 |
8,197 |
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Transfer to
reserves |
474,139 |
118,229 |
71,752 |
38,709 |
31,053 |
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