2008 Financial Statement - Access Bank

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Access Bank Plc and Subsidiary Companies Group Financial Statements – 31 March 2008 Together with Directors’ and Auditor’s Reports (b) (c) This represents the outstanding balance on the Banks investment in 2,500,000 units of N100 each in the N15 billion Second Lagos State Government Floating Rate Redeemable Bond 2005/2009. Federal Government Bond (held to maturity) comprises: Group Bank Bank 2008 2008 2007 N000 N000 N000 2nd FGN Bond Series 1 2008 (10.75%) - - 3,000,000 2nd FGN Bond Series 1 (11.50%) 2,046,532 2,046,532 - 4th FGN Bond Series 1 (10.75%) 5,193,655 5,193,655 - 3rd FGN Bond Series 15 (10.98%) 500,000 500,000 - 4th FGN Bond Series 2 (9.50%) 3,256,231 3,256,231 - 2nd FGN Bond Series 3 (8.50%) 3,000,000 3,000,000 - 4th FGN Bond Series 4 (9.00%) 13,394,461 13,394,461 - 4th FGN Bond Series 5 (9.23%) 4,544,373 4,544,373 - 4th FGN Bond Series 11 (9.25%) 1,000,000 1,000,000 - 4th FGN Bond Series 3 (10.75%) 984,156 984,156 - 3rd FGN Bond Series 4 (12.50%) 103,901 103,901 - 4th FGN Bond Series 12 (7.00%) 1,796,020 1,796,020 - 4th FGN Bond Series 7 (7.95%) 2,207,241 2,207,241 - 4th FGN Bond Series 9 (9.35%) 8,230,384 8,230,384 - 4th FGN Bond Series 14 (8.99%) 1,589,967 1,589,967 - 4th FGN Bond Series 6 (9.20%) 979,711 979,711 - 4th FGN Bond Series 13 (9.20%) 200,094 200,094 - 5th FGN Bond Series 1 (9.45%) 793,334 793,334 - 49,820,060 49,820,060 3,000,000 (d) This represents the Banks 75% interest in Access Bank, (Gambia) Limited. The Bank obtained the approval of the Central Bank of Nigeria to operate a subsidiary in Gambia. The subsidiary commenced operation on 27 October 2006. (e) This represents the Banks 85% interest in Access Bank Serria Leone acquired in June 2007. (f) This represents the Banks investment in Access Investments and Securities Limited, representing 100% equity interest. 39
Access Bank Plc and Subsidiary Companies Group Financial Statements – 31 March 2008 Together with Directors’ and Auditor’s Reports (g) This represents the Banks investment in United Securities Limited, representing 100% equity interest. (h) (i) (j) (k) (l) This represents the Banks investment in 145,000,000 (2007: 72,500,000) ordinary shares of N1 each in Marina Securities Limited, representing 29% (2007: 29%) equity interest. This represents the Banks deposit in respect of its acquisition of 75% interest in Access Bank Rwanda. The investment was approved by the Rwandan regulatory authorities subsequent to year end. This represents the Banks deposit in respect of its acquisition of 75% interest in Access Bank Burundi. The investment was yet to be approved by the Burundian regulatory as at the date of approval of these financial statements. This represents the Banks deposit in respect of its acquisition of 88% interest in Omni Finance Limited, a bank based in Cote dIvoire. The investment was approved by the Ivoirian regulatory authorities subsequent to year end. This represents the Banks investment in 52,583,291 ordinary shares of N1 each in Nigerian Inter-Bank Settlement System Plc, representing 7% equity interest. (m) This represents the Banks investment in 50,000,000 ordinary shares of N1 each in Central Securities Clearing System, representing 5% equity interest. (n) (o) (p) (q) This represents the Banks investment in 75,000,000 ordinary shares of N1 each in IBTC Investment Managers, representing 15% equity interest. This represents the Banks investment in 10,000,000 ordinary shares of N1 each in Consolidated Discount Limited, representing 5% equity interest. This represents the Banks investment in 368,256,737 units of Valucard Nigeria Plc representing 10% equity interest. This represents the Banks investment in 50,000,000 ordinary shares of US$1 each in Africa Finance Corporation, representing 5% equity interest. 40
Page 1 and 2: Access Bank Plc and Subsidiaries Gr
Page 3 and 4: Access Bank Plc and Subsidiary Comp
Page 13 and 14: Analysis of shareholding: Access Ba
Page 17 and 18: INDEPENDENT AUDITOR'S REPORT To the
Page 27 and 28: Balance Sheet As at 31 March 2008 A
Page 29 and 30: Statement of Cash Flows For the yea
Page 39: Access Bank Plc and Subsidiary Comp
Page 65 and 66: 34. Insider credits as at 31 March
Page 73 and 74: (b) Geographical segments: Access B

2008 Financial Statement - Access Bank

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