2009 Annual Report and Financial Statements - UBA Plc

Notes to the consolidated fi nancial statements
for the period ended 31 December 2009 (continued)
UBA UBA UBA UBA UBA
FX Mart Chad SA Senegal (SA) (SL) Capital Africa
Limited Limited Limited Limited Limited
N’million N’million N’million N’million N’million
18. CONDENSED RESULTS OF
CONSOLIDATED ENTITIES (continued)
Condensed profi t and loss
Operating income 61 40 364 68 1 752
Operating expenses (40) (287) (727) (574) (4 177)
Provision expense – – – (1) (2 230)
Profi t/(loss) before tax 21 (247) (363) (507) (4 655)
Tax – – – – (509)
Profi t/(loss) for the period 21 (247) (363) (507) (5 164)
Condensed fi nancial position
Assets
Cash and balances with central banks 556 327 1 193 138 2 013
Treasury bills – – 5 524 260
Due from other banks 70 860 331 348 58 424
Loans and advances to customers – 6 352 18
Investment securities – – – – 3 092
Other assets – 315 170 15 2 139
Property and equipment 23 372 914 282 130
649 1 880 8 484 1 061 65 798
Financed by:
Customer deposits – 347 6 006 508 –
Due to other banks – – – – 5 255
Investment contracts liabilities – – 43 – –
Borrowed funds – – – – –
Current income tax – – – – 1 347
Other liabilities 363 130 848 100 59 651
Deferred income tax liabilities – – – – –
Equity and reserves 286 1 403 1 587 453 (455)
649 1 880 8 484 1 061 65 798
Condensed cash fl ow
Net cash from/(used in) operating activities 284 (64) 6 134 (94) (2 258)
Net cash from fi nancing activities 280 1 650 1 950 379 44 111
Net cash (used in)/from investing activities (1) (399) (1 036) (133) 4 602
Increase in cash and cash equivalents 563 1 187 7 048 152 46 455
At period start 63 – – 594 12 342
At period end 626 1 187 7 048 746 58 797
563 1 187 7 048 152 46 455
Annual Report 2009 67
Financials