 |
 |
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 March |
|
30 September |
|
| <---- |
|
|
|
----> |
<---- |
|
----> |
|
|
2003 |
|
2004 |
|
2005 |
|
2006 |
|
2007 |
|
|
|
N million |
|
N million |
|
N million |
|
N million |
|
N million |
|
|
STATEMENT OF FINANCIAL POSITION |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
Cash and short term funds |
92,999 |
|
90,209 |
|
110,517 |
|
471,494 |
|
570,315 |
|
|
Treasury bills and government bonds |
31,448 |
|
40,497 |
|
59,832 |
|
207,341 |
|
157,519 |
|
|
Investments |
2,173 |
|
3,460 |
|
2,193 |
|
26,597 |
|
48,129 |
|
|
Loans and advances |
46,076 |
|
56,136 |
|
67,610 |
|
109,896 |
|
320,406 |
|
|
Other assets |
25,579 |
|
15,343 |
|
4,455 |
|
35,618 |
|
44,926 |
|
|
Fixed assets |
5,596 |
|
6,379 |
|
6,176 |
|
33,191 |
|
49,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
203,871 |
|
212,024 |
|
250,783 |
|
884,137 |
|
1,191,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Deposit and other accounts |
142,427 |
|
151,929 |
|
205,110 |
|
789,696 |
|
971,819 |
|
|
Other liabilities |
43,669 |
|
33,700 |
|
20,946 |
|
47,784 |
|
43,825 |
|
|
Taxation payable |
884 |
|
2,373 |
|
2,535 |
|
1,644 |
|
5,149 |
|
|
Deferred taxation |
1,990 |
|
1,104 |
|
1,073 |
|
1,502 |
|
994 |
|
|
Dividend payable |
- |
|
- |
|
- |
|
7,102 |
|
42 |
|
|
Borrowings |
- |
|
3,385 |
|
1,676 |
|
1,135 |
|
1,135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
188,970 |
|
192,491 |
|
231,340 |
|
848,863 |
|
1,022,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
|
Share capital |
1,275 |
|
1,275 |
|
1,530 |
|
3,530 |
|
5,748 |
|
|
Share premium |
- |
|
- |
|
- |
|
23,209 |
|
119,066 |
|
|
Other reserves |
13,626 |
|
18,258 |
|
17,913 |
|
10,565 |
|
31,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core capital |
14,901 |
|
19,533 |
|
19,443 |
|
37,304 |
|
156,488 |
|
|
Fixed assets revaluation reserve |
- |
|
- |
|
- |
|
11,231 |
|
11,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' funds |
14,901 |
|
19,533 |
|
19,443 |
|
48,535 |
|
167,719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minority interest |
- |
|
- |
|
- |
|
300 |
|
359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
203,871 |
|
212,024 |
|
250,783 |
|
897,698 |
|
1,191,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contingent liabilities and other obligations on behalf of customers |
48,371 |
|
81,719 |
|
81,821 |
|
167,184 |
|
451,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total balance sheet including contingencies |
252,242 |
|
293,743 |
|
332,604 |
|
1,064,882 |
|
1,642,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross earnings |
24,194 |
|
24,510 |
|
26,089 |
|
90,447 |
|
109,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before taxation and exceptional items |
5,128 |
|
6,010 |
|
6,520 |
|
12,811 |
|
29,525 |
|
|
Exceptional items |
- |
|
- |
|
- |
|
- |
|
(4,161) |
|
|
Taxation |
(1,848) |
|
(1,485) |
|
(1,599) |
|
(1,261) |
|
(3,923) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit after taxation and exceptional items |
3,280 |
|
4,525 |
|
4,921 |
|
11,550 |
|
21,441 |
|
|
Minority interest |
- |
|
- |
|
- |
|
- |
|
99 |
|
|
Transfer to reserves |
(2,132) |
|
(2,995) |
|
(3,085) |
|
(4,490) |
|
(21,540) |
|
|
Dividend (Gross) |
(1,148) |
|
(1,530) |
|
(1,836) |
|
(7,060) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share (in naira) - basic |
1.17 |
|
1.64 |
|
2.63 |
|
1.87 |
|
2.61 |
|
|
Dividend per share (in naira) |
0.45 |
|
0.60 |
|
0.60 |
|
1.00 |
|
1.20 |
|
|
Dividend per share (in naira) - adjusted |
0.16 |
|
0.22 |
|
0.26 |
|
1.00 |
|
1.20 |
|
|
Dividend cover (times) |
2.9 |
|
3.0 |
|
2.7 |
|
1.6 |
|
1.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No. of shares outstanding |
2,550 |
|
2,550 |
|
3,060 |
|
7,060 |
|
11,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share are based on weighted average number of ordinary shares of 50 kobo each on issue at the end of each respective year. |
|
| Due to a change in regulations, dividends for the 2007 year were not accrued for at year end as they had not yet been ratified by shareholders at the AGM. |
|
| |
|
| |
| |
|
|
|
|
|
|
