2010 Annual Report and Financial Statements - UBA Plc

United Bank for Africa PlcNotes to the Financial Statements cont’dFor the Period Ended 31 December 2010GROUPBANK27 OTHER LIABILITIES 31 December 31 December 31 December 31 December2010 2009 20102009N'million N'million N'million N'millionCustomers' deposits for letter ofcredit (note 12) 15,082 7,952 14,3667,528Deposit for foreign currency 106 892 106884Interest payable 3,632 3,373 1,7892,648Account payable 7,626 128 12,2802,776Accruals and provisions 5,924 12,032 3,326 11,720Information technology levy (note (27.1) below) 75 191 38160Others 11,154 33,814 6,7938,25843,599 58,382 38,698 33,97427.1 The movement in information technology levy during the year is as analysed below:At start of year 191 559 160546Remitted during the year (158) (559) (158)(546)Additions during the year 42 191 36160At end of year 75 191 3816028 DEFERRED TAXESGROUPBANK31 December 31 December 31 December 31 December2010 2009 20102009N'million N'million N'million N'millionDeferred tax assets 3,341 – 3,131–Deferred tax liabilities (30) (24) ––Movement in deferred tax assets:3,311 (24) 3,131–At start of year – – ––Abatement (note 9) 3,341 – 3,131–At end of year 3,341 – 3,131–Movement in deferred tax liabilities:At start of year 24 1,015 –991Charge/(Abatement) (note 9) 6 (991) –(991)At end of year 30 24 ––86 Annual Report and Accounts 2010