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Business Review and Financial Highlights Continued
Five Year Financial Review FIVE YEAR & Summary FINANCIAL REVIEW (Continued)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31-Dec-09 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13
Kshs 000 Kshs 000 Kshs 000 Kshs 000 Kshs 000
Audited Audited Audited Restated Audited Restated Audited
Assets
Government and other securities 26,034,258 50,108,498 46,004,636 89,291,304 92,996,115
Loans and advances to customers (net) 120,467,051 148,113,364 198,724,919 211,664,226 227,721,781
Property and equipment 7,980,332 8,271,647 8,017,595 8,895,573 8,484,836
Other assets 40,529,907 44,862,691 77,916,809 58,167,682 61,648,847
Total Assets 195,011,548 251,356,200 330,663,959 368,018,785 390,851,579
Liabilities
Customer deposits 162,544,539 196,974,651 259,308,849 288,037,367 305,659,189
Lines of credit 6,668,388 9,557,372 22,630,149 18,256,901 14,370,624
Other liabilities 2,994,696 5,694,406 4,238,134 7,429,458 7,466,799
Total Liabilites 172,207,623 212,226,429 286,177,132 313,723,726 327,496,612
Total Equity 22,803,925 39,129,771 44,486,827 54,295,059 63,354,966
TOTAL LIABILITIES AND EQUITY 195,011,548 251,356,200 330,663,959 368,018,785 390,851,578
CONSOLIDATED INCOME STATEMENT 31-Dec-09 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13
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Audited Audited Audited Audited Audited
Interest income 17,968,455 23,109,793 27,902,649 43,082,218 41,613,399
Interest expense 3,499,734 3,464,468 4,616,241 12,445,986 8,629,112
Net interest income 14,468,721 19,645,325 23,286,408 30,636,232 32,984,287
Non-interest income 9,291,467 11,016,062 16,022,674 15,620,886 17,125,978
Operating income 23,760,188 30,661,387 39,309,082 46,257,118 50,110,265
Expenses 15,885,626 18,719,096 22,283,626 25,292,333 27,080,531
Impairment on Loans and advances 1,574,201 2,144,320 1,896,082 3,756,642 2,905,975
Operating expenses 17,459,827 20,863,416 24,179,708 29,048,975 29,986,506
Profit before tax 6,300,361 9,797,971 15,129,374 17,208,143 20,123,759
Income tax expense 2,216,490 2,619,998 4,148,328 5,004,612 5,782,377
Profit for the year 4,083,871 7,177,973 10,981,046 12,203,531 14,341,382
Other Comprehensive income:
Gains/(Losses) from translating the financial statements of foreign operations - - - 97,273 738,799
Fair value changes in available-for-sale financial assets - - - 1,898,331 78,581
Other comprehensive income for the year net of tax - - - 1,995,604 817,380
Profit attributable to equity holders of the bank 4,083,871 7,177,973 10,981,046 14,199,135 15,158,762
Earnings per share (KShs) 1.84 2.76 3.72 4.11
4.82
Dividend per share (KShs) 1.00 1.25 1.85 1.90 2.00
OTHER DISCLOSURES 31-Dec-09 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13
Kshs 000 Kshs 000 Kshs 000 Kshs 000 Kshs 000
NON-PERFORMING LOANS AND ADVANCES Audited Audited Audited Audited Audited
a) Gross Non-performing loans and advances 14,639,581 14,583,382 12,228,264 14,750,335 19,227,705
b) Less Interest in Suspense 1,914,873 1,796,530 1,225,595 1,816,184 2,200,117
c) Total Non-Performing Loans and Advances (a-b) 12,724,708 12,786,852 11,002,669 12,934,151 17,027,588
d) Less Loan Loss Provision 6,356,376 6,790,567 5,240,564 7,599,324 6,761,992
e) Net Non-Performing Loans and Advances (c-d) 6,368,332 5,996,285 5,762,105 5,334,827 10,265,596
KEY PERFORMANCE INDICATORS (Percentages)
Return on Equity (ROE) 17.91 18.34 24.68 25.00 24.40
Non-interest income to operating income 39.11 35.93 40.76 33.77 34.18
Net non-performing loans to total loans 4.90 4.10 2.90 3.60 4.30
Return on total assets 2.10 2.80 3.30 3.50 3.80
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K C B 2 0 1 3 A n n u a l R e p o r t a n d F i n a n c i a l S t a t e m e n t s