| Profit and Loss Accounts |
| For the year ended 28 February 2007 |
|
|
|
|
|
|
Group |
Group |
Bank |
Bank |
|
2007 |
2006 |
2007 |
2006 |
| |
N'000 |
N'000 |
N'000 |
N'000 |
|
|
|
|
|
|
|
|
|
|
| Interest income |
51,732,510 |
25,767,313 |
50,315,047 |
25,032,665 |
| Interest expense |
(17,221,412) |
(8,347,135) |
(16,719,844) |
(7,925,615) |
|
|
|
|
|
| Net interest income |
34,511,098 |
17,420,178 |
33,595,203 |
17,107,050 |
|
|
|
|
|
| Net fee and commission income |
25,627,526 |
9,583,787 |
24,418,277 |
9,378,855 |
| Foreign exchange income |
1,936,783 |
811,780 |
1,933,651 |
811,780 |
| Other operating income |
8,058,949 |
4,877,547 |
5,733,982 |
3,567,663 |
|
|
|
|
|
| Net operating income |
70,134,356 |
32,693,292 |
65,681,113 |
30,865,348 |
|
|
|
|
|
| Provision for loan losses |
(5,509,362) |
(572,919) |
(5,182,547) |
(513,252) |
|
|
|
|
|
| Operating expenses |
(42,555,032) |
(22,333,250) |
(39,546,899) |
(19,798,429) |
|
|
|
|
|
| Operating profit |
22,069,962 |
9,787,123 |
20,951,667 |
10,553,667 |
|
|
|
|
|
| Share of profit in associated companies |
564,817 |
475,845 |
564,817 |
475,845 |
|
|
|
|
|
| Profit before tax |
22,634,779 |
10,262,968 |
21,516,484 |
11,029,512 |
|
|
|
|
|
| Tax |
(7,154,100) |
(2,702,413) |
(6,702,720) |
(2,433,593) |
|
|
|
|
|
| Profit after tax |
15,480,679 |
7,560,555 |
14,813,764 |
8,595,919 |
|
|
|
|
|
| Minority Interest |
(360,075) |
(345,086) |
- |
- |
|
|
|
|
|
| Profit for the year attributable to shareholders |
15,120,604 |
7,215,469 |
14,813,764 |
8,595,919 |
|
|
|
|
|
|
|
|
|
|
| Appropriations: |
|
|
|
|
| Transfer to statutory reserve |
(2,222,065) |
(2,578,775) |
(2,222,065) |
(2,578,775) |
|
|
|
|
|
| Transfer to Small and Medium Scale Industries Enterprises |
|
|
|
| Equity Investment Scheme Reserve |
(1,481,376) |
(859,590) |
(1,481,376) |
(859,590) |
|
|
|
|
|
| Interim dividend paid |
(3,217,076) |
- |
(3,217,076) |
- |
|
|
|
|
|
| Proposed final dividend |
(6,329,700) |
(4,293,056) |
(6,329,700) |
(4,293,056) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Earnings per share - actual and adjusted |
141k |
93k |
138 k |
110 k |
| Earnings per share - adjusted |
141k |
93k |
146k |
110 k |
|
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