Corporate Social Responsibility Report 2008 As ... - Access Bank

Value Added Statement
For the year ended 31 March 2009
Group
2009 2008
N’000 % N’000 %
Gross earnings 109,341,056 57,999,338
Interest expense:
- Local (32,359,724) (11,044,965)
- Foreign (3,040,102) (422,857)
73,941,230 46,531,516
Group’s share of associate’s loss 505,547 -
Loan loss expense (7,972,887) (3,528,889)
Allowance for other assets
and doubtful bank balances (469,241) (368,539)
Bought-in materials and services
- Local (22,183,843) (13,864,903)
- Foreign (606,419) (448,015)
Value added 43,214,387 100 28,321,170 100
Distribution of value added
To employees:
Employee cost 10,936,463 25 4,117,185 15
To government:
Government as taxes 5,371,213 12 2,992,581 10
To providers of finance:
Interest on borrowings 2,134,341 5 3,178,402 11
Retained in the business:
For replacement of fixed assets
and equipment on lease (depreciation) 3,958,153 9 2,179,901 8
To pay proposed dividend 11,349,981 26 10,492,626 37
To augment reserve 9,464,236 23 5,360,475 19
43,214,387 100 28,321,170 100
18