Audited
The information provided on this page was audited by Deloitte and Pannell Kerr Forster on 31 March 2010.
For further information see the report of the independent joint auditors.
Bank Statement of Value Added
For the period ended 31 December 2009
| 31 Dec 2009 N'million |
% | 31 Mar 2009 N'million |
% | |
|---|---|---|---|---|
| Gross income | 175,355 | 184,536 | ||
| Interest paid | (54,553) | (41,843) | ||
| Interest on long-term borrowings | (1,614) | (1,744) | ||
| 119,188 | 140,949 | |||
| Administrative overheads | (25,580) | (26,289) | ||
| Value added | 93,608 | 100 | 114,660 | 100 |
| Distribution | ||||
| Employees | ||||
| – Salaries and benefits | 39,275 | 42 | 48,830 | 43 |
| Government | ||||
| – Taxation | 1,914 | 2 | 4,990 | 4 |
| The future | ||||
| – Asset replacement (depreciation) | 5,182 | 6 | 5,761 | 5 |
| – Asset replacement (deferred taxation) | 4,500 | 5 | 6,046 | 5 |
| – Asset replacement (provision for losses) | 41,462 | 44 | 13,959 | 12 |
| – Expansion (transfers to reserves and minority interest) | 1,275 | 1 | 35,074 | 31 |
| 93,608 | 100 | 114,660 | 100 |