Download

A n n u a l R e p o r t 2 0 0 7
11. Time deposits
2007 2006
Time deposits held
by individuals
Time deposits held
609,065,028 687,614,381
by companies 93,872,809 130,311,613
702,937,837 817,925,994
12. Other current liabilities
2007 2006
Subsidies for creation of
non-profit organisation 151,605,001 153,783,000
Turnover tax – 47,044,811
Payments in transit 419,302,709 553,113,220
Prepayments received
Provision for internal
138,900,815 126,364,117
pension scheme 33,009,467 –
Guaranteed deposits 153,783,000 –
Other 76,999,997 23,530,690
973,600,989 903,835,838
12.1. The subsidy for the creation of a non-profit organisation
amounting to CDF 153,783,000 (USD 300,000) is the subsidy
which the Bank’s Board of Directors decided to allocate
to the creation of a non-profit organisation that will finance
corporate responsibility projects in the Democratic Republic
of Congo.
12.2. Payments in transit consist of amounts received from the
Bank’s correspondents on behalf of third parties, but not yet
paid at year end.
12.3. Prepayments received include a grant from the European
Union in the amount of EUR 188,493 which will be used to
cover the acquisition cost of ATMs and the cost of training the
bank’s staff members abroad.
12.4. This relates to the provision for retirement based on the
average annual compensation.
13. General reserve
This is a provision for performing loans made in compliance with
Central Bank of Congo Regulation No. 16.
14. Share capital
The Bank’s share capital increased from CDF 1,293,090,000 to
CDF 2,290,259,000 following approval of a capital increase through
the creation of 200,000 new shares by the ordinary shareholders’
meeting held on 30 March 2007. The number of the company’s
shares therefore rose to 500,000 which are now distributed among
the shareholders as follows:
Number of shares %
ProCredit Holding AG 260,000 52%
DOEN 60,000 12%
KFW 60,000 12%
IFC 45,000 9%
IPC 44,997 9%
BIO 30,000 6%
Sandrine Massiani 1 –
Oliver Meisenberg 1 –
Claus-Peter Zeitinger 1 –
500,000 100%
These are ordinary, indivisible and numbered shares.
15. Provision for share capital reconstitution
Instituted by Decree No. 04/049 dated 20 May 2004 supplementing
Order No. 77-332 dated 30 November 1977 which established the
rules for mandatory application of the Congolese chart of accounts,
and by letter Gouv/14/No.03325 issued by the Central Bank of
Congo on 30 December 2003, this provision is intended to maintain
a constant amount of the Bank’s share capital in foreign currency.
According to Article 4 of the aforementioned decree, the amount of
this provision is the difference between the equivalent in national
currency, at the closing and opening exchange rates, of the amount
of share capital denominated in foreign currencies, after taking
into account the revaluation surplus on fixed assets.
Given the difference in the exchange rate between the beginning
and end of the 2007 fiscal year, the bank’s share capital did not
depreciate in a way that required the creation of a provision for its
reconstitution.
16. Interest and fees received
2007 2006
Interest received 2,941,694,174 1,484,482,995
Withdrawal fees 875,414,809 291,939,798
Other income – 781,336
3,817,108,983 1,777,204,129
17. Revaluation of net exchange position
Revaluation of
2007 2006
exchange position profit 142,528,531 220,379,150
Revaluation of
exchange position loss (42,615,166) (61,340,671)
99,443,365 159,038,479