Full annual report - African Bank - Investoreports

annual financial statements
R million 2012 2011
15. Other liabilities
Trade creditors 451 494
Advances with credit balances 43 49
Liabilities to employees as a result of incentive transactions 50 80
Liability for cash settled converted options (refer note 54) – 4
Liability for cash settled LTIPs (refer note 54) 154 138
Interest rate and foreign currency swaps 524 348
Shareholders for odd lot offer 13 13
Shareholders for dividends 13 12
Provision for leave pay 90 94
Provision for straight-lining of leases 98 75
Sundry creditors and accruals 765 706
2 201 2 013
16. Life fund reserve
Movements in the fund during the year:
Balance at the beginning of the year 1 14
Transfer to the income statement (1) (13)
Balance at the end of the year – 1
The life fund at 30 September 2012 equals the amount of the statutory actuarial
valuation of the liability to parties outside the group according to the assurance
policies and contracts in force at that date. The statutory basis of valuation of the life
fund has been conducted in accordance with the applicable Standards of Actuarial
Practice and Advisory Practice Notes issued by the Actuarial Society of South Africa.
17. Bonds and other long term funding
Unsecured listed bonds (listed on JSE) 9 933 9 766
Unsecured listed bonds (listed on foreign stock exchanges) 7 159 2 443
Unsecured long term loans 20 208 17 463
Other long term funding 20 –
Total bonds and other long term funding 37 320 29 672
Bonds and other long term funding with a nominal value of R15 billion (2011: R12,9 billion) are payable within the next
12 months.
African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 267