|
|
 |
Income Statement |
|
|
|
 |
|
Income |
Notes |
|
|
2005 |
|
|
|
|
|
|
Interest Income |
|
|
|
|
|
Loans and advances
|
|
227,942.449 |
|
155,139.327 |
|
Surplus fund
|
|
13,950.849 |
|
6,746.819 |
|
Total interest income
|
|
|
241,893,298 |
161,886,146 |
|
|
|
|
|
|
Interest expense
|
|
|
|
|
|
|
|
|
|
|
Interest paid on deposits
|
|
|
(66,887,818) |
(52,530,315) |
|
|
|
175,005,480
|
109,355,831 |
|
Less: provision for doubtful loans
and advances |
|
|
(13,560,113) |
(11,758,000) |
|
|
|
161,445,367
|
97,597,831 |
|
Other income
|
|
|
|
|
|
Service income
|
|
|
24,221,209
|
13,822,754 |
|
Letters of credit opening charges |
|
10,507,419 |
|
5,862,085 |
|
commissions |
|
26,038,498 |
|
18,643,834 |
|
Gains on foreign exchange |
|
54,376,042
|
|
25,750,656 |
|
Sundry income |
11 |
8,252,709
|
|
7,542,653 |
|
Investment income from
Tana Building
|
|
1,334,477 |
|
1,031,074 |
|
|
|
124,730,354 |
72,653,056 |
|
EXPENSES |
|
|
|
|
|
Salaries and benefits
|
|
39,917,551 |
|
28,998,584 |
|
Rent
|
|
12,452,314 |
|
9,763,501 |
|
General and administrative
|
12 |
32,841,576
|
|
22,346,662 |
|
Depreciation
|
|
14,775,353 |
|
10,818,338 |
|
Directors’ remuneration |
|
698.769
|
|
600,308 |
|
Audit fee and expenses
|
|
122,757
|
|
119,922 |
|
|
|
(100,808,320)
|
(72,647,315) |
|
PROFIT BEFORE PROVISION |
|
|
|
|
|
FOR TAXATION
|
|
|
185,367,401 |
97,603,572 |
|
Provision for taxation |
13 |
|
(51,777,613)
|
(26,447,616) |
|
|
|
|
|
|
NET PROFIT AFTER PROVISION |
|
|
|
|
|
FOR TAXATION
|
|
|
133,589,788 |
71,155,956 |
|
Transfer to legal reserve (25%)
|
|
|
(33,397,447)
|
(17,788,989) |
|
Transfer to retained earnings
|
|
|
(100,192,341)
|
(53,366,967) |
|
Earnings per share
|
14 |
|
956 |
712 |
|
|
|
