Financial Statements 2011 - Investing In Africa

Statement Of Financial Position
AS AT 31 DECEMBER 2011
Bank
Group
2011 2010 2011 2010
Shs’000 Shs’000 Note Shs’000 Shs’000
ASSETS
4,764,626 4,064,614 Cash and balances with Central Banks 16 5,638,916 4,698,737
250,024 285,701 Items in the course of collection 17 281,796 295,760
4,486,475 4,611,935 Due from banking institutions 18 5,692,655 6,374,825
7,216,755 4,846,408 Government securities 19 7,500,288 5,074,031
474,068 3,323 Derivative assets held for risk management 20 474,068 3,323
52,025,475 38,340,879 Loans and advances to customers 21 56,624,621 40,754,979
246,508 168,826 Other assets 22 335,487 214,894
- - Current income tax recoverable 14 (c) 8,690 8,180
1,360,846 481,712 Due from group companies 23 - -
1,147,786 1,147,786 Investments 24 52,932 51,703
348,946 - Deferred tax asset 25 361,842 11,839
851,768 688,266 Property and equipment 26 967,988 750,530
400,544 129,357 Intangible assets 27 1,037,222 767,496
7,500 7,625 Operating lease prepayments 28 7,500 7,625
73,581,321 54,776,432 Total assets 78,984,005 59,013,922
LIABILITIES
62,008,953 45,317,661 Customer deposits 29 66,293,053 48,492,224
206,149 101,479 Due to banking institutions 30 788,647 733,452
190,280 303,284 Line of credit 31 190,280 303,284
322,115 264,818 Due to group companies 32 - -
223,321 174,215 Current income tax payable 14 (c) 229,538 179,344
674,738 658,926 Other liabilities 33 903,629 892,194
55,905 50,181 Unclaimed dividends 34 55,905 50,181
- 10,014 Deferred tax liability 25 - 10,014
63,681,461 46,880,578 Total liabilities 68,461,052 50,660,693
EQUITY
Capital and reserves attributable to
equity holders of the Bank
1,974,488 1,794,989 Share capital 35 (a) 1,974,488 1,794,989
- 28,848 Share premium 35 (a) - 28,848
159,864 164,645 Revaluation surplus on property 35 (b) 159,864 164,645
(437,164) (96,595) Investments revaluation reserve 35 (c) (437,164) (96,595)
- - Foreign currency translation reserve 35 (d) (79,084) (70,713)
507,519 366,056 Statutory credit risk reserves 35 (e) 533,581 369,372
7,695,153 5,637,911 Revenue reserves 35 (f) 7,902,122 5,748,216
Total capital and reserves attributable to equity
9,899,860 7,895,854 holders of the Bank 10,053,807 7,938,762
- - Non-controlling interests 36 469,146 414,467
9,899,860 7,895,854 Total equity 10,522,953 8,353,229
73,581,321 54,776,432 Total liabilities and equity 78,984,005 59,013,922
The financial statements on pages 33 to 98 were approved and authorised for issue by the Board of Directors on 22 February
2012 and were signed on its behalf by:
J P M NDEGWA
(Chairman)
F N MWANZIA
(Director)
J W MACHARIA
(Group Managing Director)
L MURAGE
(Group Company Secretary)
34 • NIC Bank Limited • Annual Report & Financial Statements 2011