Annual REPORT

NOTES TO THE FINANCIAL STATEMENTS (Continued)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Group
Bank
2015 2014 2015 2014
27 OTHER LIABILITIES Sh’000 Sh’000 Sh’000 Sh’000
Provisions and accruals 29,018 15,138 29,018 15,138
Leave pay provision 40,857 30,765 40,857 30,187
Cheques for collection 158,676 150,715 158,676 150,715
Other payables 521,584 461,495 519,111 459,779
_________ _________ ________ _________
750,135 658,113 747,662 655,819
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2015 2014
28 DIVIDENDS – Group & Bank Sh’000 Sh’000
a) Unclaimed dividends
At 1 January 12,587 6,514
Declared 622,594 222,809
Paid during the year (606,592) (216,736)
_________
_________
At 31 December 28,589 12,587
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Unclaimed dividends relates to dividends declared in past years by the group but not collected by the shareholders or their representatives.
b) Proposed dividends
The directors recommend a first and final dividend of Sh 0.50 (2014: Sh 0.50) per share for the year amounting to Sh
622,593,598 (2014: Sh 622,593,598) subject to shareholders’ approval at the Annual General Meeting.
Proposed dividends are not accounted for until they have been ratified at the Annual General Meeting.
Group
Bank
29 DEFERRED TAX LIABILITY 2015 2014 2015 2014
Sh’000 Sh’000 Sh’000 Sh’000
The deferred tax asset computed at the enacted rate of 30% is
attributed to the following items:
Deferred tax assets:
General bad debts provision (15,889) (11,077) (15,889) (11,077)
Excess depreciation over capital allowances (8,384) (8,135) (8,328) (8,154)
Leave pay provision (12,386) (9,230) (12,257) (9,056)
Deferred tax liabilities:
_________ _________ _________ _________
(36,659) (28,442) (36,474) (28,287)
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Revaluation surplus 33,892 33,869 33,892 33,869
_________ _________ _________ _________
Net deferred (asset)/tax liability (2,767) 5,427 (2,582) 5,582
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93