Operating profit before provision for taxation   

332,570,355

259,147,659

       Adjustments for:

       Depreciation

       Loss on disposal of fixed assets

       Gain on disposal of fixed assets

       Interest income from foreign deposits

       Investment income

       Prior year adjustment

18,657,282

121,213

(789,110)

(16,544,662)

(2,979,157)

3,521

15,841,137

247,687

(221,482)

(18,699,199)

(3,423,712)

15,863

331,039,442

252,907,953

    (Increase) in items in course of collection

26,491,252

(94,218,188)

    (Increase) in other assets

(121,927,350)

(31,967,053)

( Increase) in loans and advances to customers

(402,700,865)

(808,740,363)

    Increase in demand deposits

255,886,089

321,835,047

    Increase in saving deposits

999,079,048

499,609,117

    Increase in fixed deposits

36,008,902

347,500,287

    Increase in margin held on letters of credit

7,847,518

9,107,717

    Increase in other liabilities

293,124,320

138,863,165

1,371,865,852

633,752,836

    Income taxes paid

(71,164,202)

(51,777,613)

  Net cash inflow from operating activities

1,300,701,650

581,975,223

(23,956,746)

(53,042,359)

    Disposal of fixed assets

1,267,375

294,680

    Investment

-

(584,000)

    Returns from:

    Interest income received on surplus funds

16,544,662

18,699,199

    Income from investment

     2,979,157

     3,423,712

 Net cash (used in) received from investing activities

(3,165,552)

(31,208,768)

    Proceeds from issuance of share capital

2,500,000

46,020,000

    Dividends paid

(55,000,000)

(75,000,000)

    Directors bonus

19

      (420,000)

      (420,000)

Net cash received from (used in) financing activities

(52,920,000)

(29,400,000)

Net increase in cash and cash equivalents

1,244,616,098

521,006,060

Cash and cash equivalents, opening balance

1,670,891,886

1,149,885,826

Cash and cash equivalents, closing balance

2,915,507,984

1,670,891,886