Contents - Equity Bank Group

Notes to the Financial StatementsFor the year ended 31st December 2007iii)Long term loan of US$ 10,000,000 from Growth Management Limited, a company incorporated in UK. The loan, which issecured by directors’ guarantee, accrues interest at the rate of 9.5% p.a. and will mature on 1st July 2012. The effective interestrate is 11.18%. Finance cost of KShs 33m has been included in the income statement.iv)Long term loan of US$ 7,105,970 from Deutsche Bank Microfinance Fund, a company incorporated in Germany. The loan,which is secured by directors’ guarantee, accrues interest at the rate of 9.5% p.a. and will mature on 31st December 2014. Theeffective interest rate is 11.18%. Finance cost of KShs 1m has been included in the income statement account.v) Long term loan of US$ 7,500,000 from Global Microfinance Facility, a company incorporated in USA. The loan, which is securedby directors’ guarantee, accrues interest rate at 8.3% p.a. and will mature on 1st July 2012. The effective interest rate is 9.76%.Finance cost of KShs 8 million has been included in the income statement account.vi)Long-term term loan of KShs 1,507,250,000 from FMO, a company incorporated in the Netherlands. The loan, which is securedby directors’ guarantee, accrues interest rate at 10.43% p.a. and will mature on 15th September 2014. The effective interest rateis 12.26%. Finance cost of KShs 16m has been included in the income statement.vii)Medium term loan of KShs 50 million from Ministry of Youth Affairs. The loan, which is secured by directors’ guarantee, accruesinterest rate at 1% p.a. and will mature on 24th December 2010. The effective interest rate is 1%. Finance cost of 0.02m hasbeen included in the income statement.28. Other liabilitiesIn millions of Kenya Shillings 2007 2006Short-term employee benefits 92 34Creditors and accruals 518 321Other 1,238 4891,848 84429. Statement of changes in equityShare capital and share premium(a) Share capital 2007 2006Authorised share capital 362,209,905 ordinary shares of KShs 5 each 1,811 500Issued and fully paid 362,209,905 ordinary shares of KShs 5 each 1,811 453Movement in ordinary sharesIn millions of shares2007 2006On issue at 1 January 91 91Bonus shares issued 181 -Additional shares issued 90 -On issue at 31 December 362 912007 Annual Report and Financial Statements 61