2009 Annual report - Nedbank Group Limited

10. non-interest income2009 2008N$’000N$’000Dividends 2,033 10,16411. EXPENSESExpenses include the following items which are separately disclosable:Auditors’ remuneration - prior year 42 153Staff costs – 49Directors’ fees paid by the Bank 98 96Other expenses 48 5112. TAXATION12.1 Charge for the year188 349Normal taxation - current year 27 –12.2 Reconciliation of rate of taxationNamibian normal rate of taxation 35.0 35.0Reduction in rate for the year: (33.6) (35.0)- Non-taxable income (33.6) (35.0)Effective rate of taxation 1.4 –13. cash flow information13.1 Reconciliation of profit before taxation to cash generated by operating activitiesProfit before taxation 1,928 8,935Movement in operating assets (1,928) (8,935)- Deposit, current and other accounts (149) (8,303)- Advances and other accounts (1,779) (632)Cash flow from operating activities – –13.2 Cash received from customersInterest received 98 513.3 Cash paid to customersInterest paid on deposits (15) (885)13.4 Cash movement in operating liabilitiesCurrent accounts (149) (8,188)Other deposits and loan accounts – (115)14. Liquidity, credit and market risk information(149) (8,303)The assets and liabilities of the company consist mainly of non-financial assets and liabilities which are not subject toliquidity, credit and market risk for IFRS 7 purposes. Accounts receivable and creditors and accruals are repayable ondemand or short notice.CO M PA N Y ANNUAL FINANCIAL STATEMENT S 151