Financial Statements 2011 - Investing In Africa

Notes To The Financial Statements (Continued)
As at 31 december 2011
39) Related party transactions (Continued)
Customer deposits
Companies associated to directors
Bank
Group
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
4,980,085 4,786,074 At 1 January 5,007,296 4,786,074
(283,151) 194,011 Net movement during the year (262,989) 221,222
4,696,934 4,980,085 At 31 December 4,744,307 5,007,296
288,345 229,063 Interest paid 288,623 280,860
Employees/staff
Bank
Group
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
58,225 78,323 At 1 January 78,998 81,925
38,948 (20,098) Net movement during the year 20,058 (2,927)
97,173 58,225 At 31 December 99,056 78,998
2,439 1,576 Interest paid 2,495 1,661
Other amounts outstanding at the end of the reporting period are disclosed in notes 23 and 32.
Key management compensation
The remuneration of directors and other members of key management during the year were as follows:
Bank
Group
2011 2010 2011 2010
Shs’000 Shs’000 Shs’000 Shs’000
159,513 153,335 Salaries and other benefits 211,876 276,977
Directors’ remuneration
6,890 6,032 Fees for services as directors 8,809 8,111
Other emoluments (included in key management
90,280 71,740 compensation above) 108,773 97,742
97,170 77,772 117,582 105,853
In line with policy, the above compensation is a consolidated salary package encompassing all employment benefits
and pension.
92 • NIC Bank Limited • Annual Report & Financial Statements 2011