Balance Sheet as at 31st December 2009
Cash and balances with CBN
33,727,460
Due from other Banks & Financial institutions
47,111,267
Cash and short-term funds
367,548,085
Short term investments
141,025,842
Bills discounted
22,937,302
Treasury Bills
139,139,045
Loans and advances
315,294,346
312,881,090
Advances under finance lease
8,445,050
3,953,392
Other assets
39,210,053
32,625,232
Long term inveatments
14,538,605
Investment Properties
1,381,027
150,000
Fixed assets
61,590,454
34,258,841
Deferred tax assets
50,391,908
Total Assets
735653314
1038317613
Share capital
10,077,497
7,577,497
Reserves
705,018,482
160,088,494
Total capital Reserves
-139419944
Deposits
700,782,336
735,972,904
Other liabilities
127,157,485
Deferred taxation
1,378,240
Due to other banks
145,476,730
Other liabilities
55,130,225
Deferred tax liabilities
32,935
Minority Interest
1,045,459,760
7,257
Total Liabilities
735653314
1,038,317,613
Acceptances and guarantees
110763885
Contingent Accounts
181897859
Total Equity
-194587876
169208852
For the year ended 31 December 2009
Gross Earnings
214399795
87228425
Interest and discount income
160,859,624
Interest expense
980,708,269
1,049,077,400
Net interest and discount income
67,826,069
Operating Income
121,366,239
Operating expenses
964,372,216
1,041,775,901
Provision for risk assets
841,584,252
Provision for losses
1,040,971,425
-4,628,064
Goodwill impairment
968,758,619
Net profit before tax & Exceptional items
715,827,279
Exceptional items
993,009,339
Profit before taxation
635,094,793
25,970,014
Taxation
50,862,889
1,067,352,394
Profit (loss) after tax before extra ordinary items
685,957,682
19580584
Profit after taxation
19580584
Minority interest
5,357,614
-3,185
Profit after tax and minority interest
-382426528
Transfer to reserves
19577399
Total non-performing loans and advances
415,111,051
Total non-performing loans to total loans and advances
1%
Earnings per share (basic)
-19
248k
Earnings per share (Diluted)
-19
For the period ended 31 December 2009
Cash flows from operating activities
Cash generated from operations
238,366,325
Net cash from operating activities
236474474
cash flows from investing activities
Purchase of fixed assets
1,055,466,841
Proceeds from sale of fixed assets
38,947
Additional investment in subsidiaries
1,069,779,238
Additional investment in associates
-149,500
Addition to investment property
-123,000
Purchase of long term investments
990,264,708
Purchase of short term investments
1,030,172,604
Net cash from investing activities
-149517458
Cash flows from financing activities
Dividend paid
1,069,237,307
Proceeds from issue of shares
194,574,329
Net cash from financing activities
190069812
Increase in cash and cash equivalents
277026828
Analysis of changes in cash and cash equivalents
Balance at beginning of year
229,660,301
Balance at end of year
506,687,129
Increase in cash and cash equivalents
277026828
Investment Valuation Ratios
Operating Profit Per Share (Rs)
Operating Profit Margin(%)
Return on Net Worth(%)
1.99%
Cost to income ratio
-0.90%
Capital Adequacy Ratio
-0.26%
Net Profit Margin (%)
-1.81%
Equity capital to deposits
Interest Income/Gross Earnings
0.75%
Non-Interest Income/Gross Earnings
3.27%
Cash Flow Indicator Ratios