Annual REPORT

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ANNUAL <strong>REPORT</strong> AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 NOTES TO THE FINANCIAL STATEMENTS (Continued) 32. OPERATING SEGMENTS For management purposes, the Bank is organised into two main operating segments based on products and services as follows: i) Retail Banking: Includes loans deposits and other transactions and balances with retail customers; ii) Wholesale Banking: Includes loans deposits and other transactions and balances with corporate and institutional customers. Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss. Income taxes are managed on a group basis and are not allocated to operating segments. The Group’s segment operations are all financial with a majority of revenues deriving from interest. The management relies primarily on net interest revenue to assess the performance of the segment. Interest income is reported net as management primarily relies on net interest revenue as a performance measure, not gross income and expenses. No revenue from transactions with a single external customer or counterparty amounted to 10% or more of the Bank’s total revenue in 2015 or 2014. The following table presents income and profit and certain asset and liability information regarding the Group’s operating segements, Profit or loss for the year ended 31 December 2015 Whole sale banking Retail banking Other Total Sh’000 Sh’000 Sh’000 Sh’000 Net interest income 2,556,973 3,835,459 - 6,392,431 Other income 1,125,647 1,688,471 170,409 2,984,527 __________ _________ _________ _________ Operating income 3,682,620 5,523,930 170,409 9,376,958 __________ _________ _________ ________ Depreciation and amortisation (222,003) (333,005) (1,560) (556,568) Other Operating Expenses (2,256,569) (3,393,819) (295,986) (5,946,374) Share of Profit Subsidiary - - 83,111 83,111 ________ _________ _________ ________ Profit before tax 1,204,048 1,797,106 (44,026) 2,957,128 Profit or loss for the year ended 31 December 2014 ============= ============= ============== ============= Net interest income 2,148,287 3,222,431 - 5,370,718 Other income 1,021,914 1,532,871 86,968 2,641,753 __________ _________ _________ _________ Operating income 3,170,201 4,755,302 86,968 8,012,471 __________ _________ _________ ________ Depreciation &Amortisation (148,544) (222,816) (827) (372,186) Other Operating Expenses (1,834,112) (2,751,167) (426,163) (5,011,443) Share of Profit Subsidiary - - 36,218 36,218 _________ _________ _________ ________ Profit before tax 1,187,545 1,781,319 (303,804) 2,665,060 ============= ============= =============== ============ 96
ANNUAL <strong>REPORT</strong> AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 NOTES TO THE FINANCIAL STATEMENTS (Continued) 32. OPERATING SEGMENTS (Continued) Statement of financial position as at 31 December 2015 Whole sale banking Retail banking Other Total Sh’000 Sh’000 Sh’000 Sh’000 Assets Segment assets 32,475,071 48,705,380 - 81,180,451 Un-allocated assets - - 100,915 100,915 __________ _________ _________ _________ Total Assets 32,475,071 48,705,380 100,915 81,281,366 __________ _________ _________ ________ Liabilities and equity: Segment Liabilities 32,521,150 48,774,498 - 81,295,648 Un-allocated Liabilities - - (14,282) (14,282) Inter-segment lending (46,079) (69,118) 115,197 - __________ _________ _________ ________ Total liabilities and equity 32,475,071 48,705,380 100,915 81,281,366 ============= ============= =============== ============ Other Disclosures Capital Expenditure 724,088 905,110 181,022 1,810,220 ======== ======= ======== ======= Statement of financial position as at 31 December 2014 Whole sale banking Retail banking Other Total Sh’000 Sh’000 Sh’000 Sh’000 Assets Segment assets 24,725,065 37,087,598 - 61,812,663 Un-allocated assets - - 21,740 21,740 __________ _________ _________ _________ Total Assets 24,725,065 37,087,598 21,740 61,834,403 __________ _________ _________ _________ Liabilities and equity: Segment Liabilities 24,752,629 37,128,943 - 61,881,572 Un-allocated Liabilities - - (47,169) (47,169) Inter-segment lending (27,564) (41,345) 68,909 - __________ _________ _________ _________ Total liabilities and equity 24,725,065 37,087,598 21,740 61,834,403 ============== ============= ============== ============= Other Disclosures Capital Expenditure 342,588 428,235 85,647 856,469 ======== ======= ======== ======= 97
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BOARD OF DIRECTORS ANNUAL REPORT AN
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FAMILY BANK INSURANCE AGENCY LIMITE
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CORPORATE GOVERNANCE STATEMENT ANNU
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REPORT OF THE DIRECTORS ANNUAL REPO
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Annual REPORT

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