Notes to the Financial Statements

for the year ended March 31, 2009

3. Due from Banks and Other Financial Institutions

	The Group		The Bank
	2009 N'million	2008 N'million	2009 N'million	2008 N'million
In Nigeria (Collateralised by Treasury Bills N120,908; 2008 – N32,200)	452,104	304,237	402,585	199,965
Other Banks and Offices outside Nigeria	312,142	256,937	108,225	80,280
	764,246	561,174	510,810	280,245
Provision for doubtful accounts (note 3.1)	(198)	(295)	(88)	(212)
	764,048	560,879	510,722	280,033

 

3.1 Provision for doubtful accounts

	The Group		The Bank
	2009 N'million	2008 N'million	2009 N'million	2008 N'million
At April 1	295	662	212	505
Additions for the year	32	36	-	-
Write back during the year	(129)	(403)	(124)	(293)
Per profit and loss account (note 34)	(97)	(367)	(124)	(293)
At March 31	198	295	88	212

 

3.2 Amount held on behalf of customers included in balances with other banks outside Nigeria are:

	The Group		The Bank
	2009 N'million	2008 N'million	2009 N'million	2008 N'million
Deposit with FBN Bank (UK) Limited	22,780	-	22,780	17,261
Vostro accounts (note 17)	46,841	26,182	46,841	26,182
	69,621	26,182	69,621	43,443