Financial Highlights

for the year ended March 31, 2009

	The Group		The Bank
	2009 N'million	2008 N'million	2009 N'million	2008 N'million
Major balance sheet items
Total assets and contingencies	2,706,292	2,073,193	1,982,395	1,363,700
Total assets	2,009,914	1,528,234	1,667,422	1,165,461
Loans and advances	740,397	466,096	684,107	437,768
Deposits	1,194,456	700,182	1,071,836	661,624
Share capital	12,342	9,945	12,432	9,945
Shareholders' funds	337,405	351,854	351,054	339,847
Major profit and loss account items
Gross earnings	218,287	155,725	185,189	130,600
Charge for doubtful accounts	(19,439)	(6,028)	(13,959)	(5,819)
Profit before exceptional item and taxation	53,799	47,906	46,110	38,020
Exceptional item	(26,113)	-	-	-
Profit after exceptional item before taxation	27,686	47,906	46,110	38,020
Information technology development levy	(526)	(480)	(461)	(380)
Taxation	(14,591)	(10,747)	(10,575)	(7,167)
Profit after taxation	12,569	36,679	35,074	30,473
Dividend
Declared	-	23,868	-	23,868
Information per 50k ordinary share	2009 N	2008 N	2009 N	2008 N
Earnings (basic)
Basic	0.51	2.67	1.41	2.23
Adjusted	0.51	1.84	1.41	1.53
Net assets	13.57	17.88	14.12	17.09
Total assets
– actual	80.84	76.80	67.06	58.60
– adjusted	191.84	145.87	67.06	111.24
Stock Exchange quotation at March 31	-	-	15.80	47.24
Ratios	2009 %	2008 %	2009 %	2008 %
Cost to income	66.79	63.69	67.43	64.48
Return on assets	2.68	3.13	2.77	3.26
Return on shareholders' funds	3.73	10.42	9.99	8.97
Capital adequacy	24.30	42.30	29.74	48.23
Number of branches/agencies and subsidiaries	536	469	510	453
Number of staff	8,557	8,856	8,203	8,495
Number of shares in issue (million)	24,864	19,890	24,864	19,890