CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2007 |
| |
Group |
Group |
Bank |
Bank |
| |
2007 |
2006 |
2007 |
2006 |
|
N'000 |
N'000 |
N'000 |
N'000 |
| |
|
|
|
|
| Gross Earnings |
74,936,710 |
44,689,775 |
73,746,812 |
44,670,888 |
| |
|
|
|
|
| Interest and similar income |
47,639,531 |
28,322,648 |
47,366,811 |
28,426,753 |
| Interest and similar expense |
(17,600,903) |
(12,458,611) |
(17,679,232) |
(12,523,658) |
| Net interest income |
30,038,628 |
15,864,037
|
29,687,579
|
15,903,095 |
| |
|
|
|
|
| Fee and commission income |
18,200,526 |
12,948,520
|
18,185,513
|
12,947,439 |
| Fee and commission expense |
(180,726) |
(113,398) |
(190,976)
|
(113,269) |
| Net fee and commission income |
18,019,800 |
12,835,122 |
17,994,537
|
12,834,170 |
| |
|
|
|
|
| Foreign exchange income |
1,144,027 |
1,348,347 |
1,144,027 |
1,348,347 |
| Underwriting profit/(loss) |
443,930 |
(25,722) |
- |
- |
| Trusteeship income |
16,050 |
- |
- |
- |
| Income from investments |
7,492,646 |
2,070,260 |
7,050,461 |
1,948,349 |
| |
9,096,653 |
3,392,885 |
8,194,488 |
3,296,696 |
| |
|
|
|
|
| Operating income |
57,155,081 |
32,092,044 |
55,876,604 |
32,033,961 |
| |
|
|
|
|
| Operating expenses |
(29,378,226) |
(18,944,690) |
(28,852,803) |
(18,689,012) |
| Provision for losses |
(4,769,702) |
(1,786,877) |
(4,682,494) |
(1,730,486) |
| |
|
|
|
|
| Profit before taxation |
23,007,153 |
11,360,477 |
22,341,307 |
11,614,463 |
| Taxation |
(5,469,912) |
(2,061,055) |
(5,207,222) |
(2,055,635) |
| Profit after taxation |
17,537,241 |
9,299,422 |
17,134,085 |
9,558,828 |
| Minority interest |
(4,764) |
764 |
- |
- |
| Profit attributable to the group |
17,532,477 |
9,300,186 |
17,134,085 |
9,558,828 |
| |
|
|
|
|
| The profit for the year is appropriated as follows: |
|
|
|
|
| |
|
|
|
|
| Transfer to statutory reserve |
2,570,113 |
2,867,648 |
2,570,113 |
2,867,648 |
| Transfer to Small & Medium Scale Industries Equity Investment Scheme (SMIEIS) Reserve |
856,704 |
955,883 |
856,704 |
955,883 |
| Transfers to bonus issue reserve |
- |
1,164,201 |
- |
1,164,201 |
| Transfer to contingency reserve |
26,591 |
1,931 |
- |
- |
| Transfer to retained earnings reserve |
14,079,069 |
4,310,523 |
13,707,268 |
4,571,096 |
| |
17,532,477 |
9,300,186 |
17,134,085 |
9,558,828 |
| |
|
|
|
|
| |
|
|
|
|
| Earnings per share (basic) |
150.60k |
99.86k |
147.17k |
102.63k |
| Dividend per share (proposed) |
102k |
42k |
102k |
42k |
| |
|
|
|
|
|
|
|
