AUDITED FINANCIAL STATEMENTS AND OTHER
DISCLOSURES FOR THE YEAR ENDED 31ST DECEMBER 2015
I STATEMENT OF FINANCIAL POSITION
A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
ASSETS
Cash ( both Local & Foreign)
Balances with Central Bank of Kenya
Kenya Government & other Securities held for dealing purposes
Financial Assets at Fair Value through Profit & Loss
Investment Securities:
(i) Held to Maturity:
(a) Kenya Government Securities
(b) Other Securities
(ii) Available for Sale:
(a) Kenya Government Securities
(b) Other Securities
Deposits and Balances due from Local Banking Institutions
Deposits and Balances due from Banking Institutions Abroad
Tax Recoverable
Loans and Advances to Customers (Net)
Balances due from Banking Institutions in the Group
Investments in Associates
Investments in Subsidiary Companies
Investments in Joint ventures
Investment Properties
Property, Plant and Equipment
Prepaid Lease Rentals
Intangible Assets
Deferred Tax Asset
Retirement Benefit Asset
Other Assets
TOTAL ASSETS
BANK
31 Dec 2014
KShs ‘000’ (Audited)
BANK
31 Dec 2015
KShs ‘000’ (Audited)
GROUP
31 Dec 2015
KShs ‘000’ (Audited)
307,872
266,747
-
417,801
668,206
417,801
668,206
-
535,528
-
817,860
-
817,860
-
343,438
1,828,445
973,023
424
6,189,799
196,581
150,000
1,045,605
40,570
424
10,155,694
518,570
568,093
8,193
963,133
614,628
13,117,893
629,134
3,460
621,841
3,665
948,865
1,081,838
16,781,543
196,581
150,000
1,045,605
40,570
424
10,155,694
629,134
621,841
3,665
948,865
1,084,879
16,781,124
B
21
22
23
24
25
26
27
28
29
30
31
32
LIABILITIES
Balances due to Central Bank of Kenya
Customer Deposits
Deposits and Balances due to Local Banking Institutions
Deposits and Balances due to Foreign Banking Institutions
Other Money Market Deposits
Borrowed Funds
Balances due to Banking Institutions Group Companies
Tax Payable
Dividends Payable
Deferred Tax Liability
Retirement Benefit Liability
Other liabilities
TOTAL LIABILITIES
8,484,930
269,589
1,004,746
45,190
207,966
10,012,421
10,945,980
689,836
1,648,975
81,197
252,765
13,618,752
10,931,651
689,836
1,648,975
396
81,197
263,632
13,615,686
C
33
34
35
36
37
38
39
40
SHAREHOLDERS’ FUNDS
Paid Up/ Assigned Capital
Share Premium (Discount)
Revaluation Reserves
Retained Earnings/Accumulated Losses
Statutory Loan Reserves
Other Reserves
Proposed Dividends
Capital Grants
TOTAL SHAREHOLDERS’ FUNDS
Minority Interest
TOTAL LIABILITIES AND SHAREHOLDERS’ FUNDS
1,190,893
1,822,837
101,711
(61,255)
51,285
3,105,471
13,117,893
1,190,893
1,822,837
142,904
(69,257)
77,987
(2,573)
3,162,791
16,781,543
1,190,893
1,822,837
142,904
(66,610)
77,987
(2,573)
3,165,438
16,781,124
BANK
31 Dec 2014
KShs ‘000’ (Audited)
BANK
31 Dec 2015
KShs ‘000’ (Audited)
GROUP
31 Dec 2015
KShs ‘000’ (Audited)
858,524
69,922
112,687
1,041,133
1,545,367
124,322
214,132
1,883,822
1,545,367
124,322
214,132
1,883,822
INTEREST EXPENSE
Customer Deposits
Deposits and Placement from Banking Institutions
Other Interest Expenses
Total Interest Expenses
NET INTEREST INCOME /LOSS
448,510
9,116
457,626
583,507
1,151,063
1,151,063
732,759
1,151,063
1,151,063
732,759
NON INTEREST INCOME
Fees and Commissions on Loans and Advances
Other Fees and Commissions
Foreign Exchange Trading Income (Loss)
Dividend Income
Other Income
Total Non-Interes Income
TOTAL OPERATING INCOME
97,468
99,160
33,217
132,139
361,984
945,491
175,650
160,424
18,119
49,501
403,694
1,136,453
175,650
166,251
18,119
49,862
409,882
1,142,641
121,010
291,045
25,500
39,016
36,411
11,028
325,211
849,221
96,270
138,093
445,292
44,702
135,379
91,481
31,000
214,088
1,100,035
36,418
138,093
445,292
44,702
135,379
91,481
31,000
216,494
1,102,441
40,200
96,270
36,418
76,582
19,688
18,681
17,737
40,200
1,135
18,681
20,384
41
II STATEMENT OF COMPREHENSIVE INCOME
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
INTEREST INCOME
Loans and Advances
Government Securities
Deposits and Placements with Banking Institutions
Other Interest Income
Total Interest Income
OPERATING EXPENSES
Loan Loss Provision
Staff Costs
Directors’ Emoluments
Rental Charges
Depreciation Charge on Property and Equipment
Amortisation Charges
Other Operating Expenses
Total Operating Expenses
Profit/(Loss) Before Tax and Exceptional Items
Exceptional Items
Profit/(Loss) After Exceptional Items
Current tax
Deferred tax
Profit/(Loss) After Tax and Exceptional Items
Minority Interest
Profit/(Loss) After Tax, Exceptional Items & Minority Interest
Other Comprehensive Income:
Gains/(Losses) from Translating the Financial Statements of Foreign Operations
Fair Value changes in Available-fo-sale Financial Assets
Revaluatation Surplus on Property, Plant and Equipment
Share of other Comprehensive Income of Associates
Income Tax Relating to Components of other Comprehensive Income
Other Comprehensive Income for the Year Net of Tax
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
EARNINGS PER SHARE- BASIC & DILUTED
DIVIDEND PER SHARE -DECLARED
19,688
17,737
20,384
1,140
38,221
39,361
59,049
(3,712)
43,294
39,582
57,319
(3,712)
43,294
39,582
59,966
BANK
31 Dec 2014
KShs ‘000’ (Audited)
BANK
31 Dec 2015
KShs ‘000’ (Audited)
GROUP
31 Dec 2015
KShs ‘000’ (Audited)
602,163
88,752
513,411
185,627
327,784
327,784
-
777,949
252,407
525,542
358,550
166,992
166,992
-
777,949
252,407
525,542
358,550
166,992
166,992
-
III
OTHER DISCLOSURES
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
NON-PERFORMING LOANS AND ADVANCES
(a) Gross Non-Performing Loans and Advances
(b) Less Interest in Suspense
(c)Total Non-Performing Loans and Advances (a-b)
(d) Less Loan Losses Provision
(e) Net Non-Performing Loans and Advances(c-d)
(f) Discounted Value of Securities
(g) Net NPLs Exposure (e-f)
2.0
2.1
2.2
2.3
INSIDER LOANS AND ADVANCES
(a) Directors, Shareholders and Associates
(b) Employees
(c)Total Insider Loans and Advances and other facilities
438,939
176,559
615,498
390,292
273,890
664,182
390,292
273,890
664,182
3.0
3.1
3.2
3.3
3.4
OFF-BALANCE SHEET ITEMS
(a) Letters of credit, Guarantees & Acceptances
(b) Forwards Swaps & Options
(c) Other Contingent Liabilities
(d)Total Contingent Liabilities
154,873
154,873
155,007
155,007
155,007
155,007
4.0
4.1
4.2
4.3
4.4
4.5
4.6
4.7
4.8
4.9
4.10
4.1
4.1
4.1
4.1
4.2
CAPITAL STRENGTH
(a)Core capital
(b) Minimum Statutory Capital
(c)Excess/ (Deficiency) (a-b)
(d) Supplementary Capital
(e) Total Capital (a+d)
(f)Total risk weighted assets
(g) Core Capital/Total Deposit Liabilities
(h) Minimum Statutory Ratio
(I) Excess/ (Deficiency) (g-h)
(j) Core Capital / Total Risk Weighted Assets
(k) Minimum Statutory Ratio
(l) Excess/(Deficiency) (j-k)
(m) Total Capital/Total Risk Weighted Assets
(n) Minimum statutory Ratio
(o) Excess/(Deficiency) (m-n)
2,196,566
1,000,000
1,196,566
76,713
2,273,279
8,708,542
25.9%
10.5%
15.4%
25.2%
8.0%
17.2%
26.1%
12.0%
14.1%
2,185,962
1,000,000
1,185,962
113,713
2,299,675
14,150,605
20.0%
10.5%
9.5%
15.4%
10.5%
4.9%
16.3%
14.5%
1.8%
2,185,962
1,000,000
1,185,962
113,713
2,299,675
14,150,605
20.0%
10.5%
9.5%
15.4%
10.5%
4.9%
16.3%
14.5%
1.8%
5.0
5.1
5.2
5.3
LIQUIDITY
(a) Liquidity Ratio
(b) Minimum Statutory Ratio
(c) Excess/(Deficiency) (a-b)
49.4%
20.0%
29.4%
23.0%
20.0%
3.0%
23.0%
20.0%
3.0%
The above statement of financial position, statement of comprehensive income and other disclosures are extracts from the books of the bank as audited by Messrs. Deloitte & Touche’,
Certified Public Accountants who expressed an unqualified opinion.
Signed by:
James Gacheru
Samuel Kimani
Chairman
Chief Executive Officer
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