FINANCIAL RESULTS MARCH-2010 33.5 X 26.5primebank audit adjusted.cdr
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UNAUDITED FINANCIAL STATEMENTS AND DISCLOSURES AS AT 31ST MARCH 2010MMAARR 22000099 DDEECC 22000099 MMAARR 22001100 MMAARR 22000099 DDEECC 22000099 MMAARR 22001100BALANCE SHEET PROFIT & LOSS ACCOUNT(Unaudited) (Audited) (Unaudited) (Unaudited) (Audited)) ((UUnnaauuddiitteedd)) Shs. ‘000 Shs. ‘000 Shs. ‘000 Shs. ‘000 Shs. ‘0000 SShhss.. ‘‘000000 ASSETS INTEREST INCOME 149,492 171,287 326,889 1,375,685 373,51373,5111Cash (both local and foreign) 186,375 Loans and advancesBalances Due from Central Bank of Kenya 930,904 1,074,940 1,138,044 Government securities 88,646 484,966 205,595 205,595 Kenya Government securities 3,708,857 6,715,477 9,532,521 Deposits and placements with banking institutions 9,454 49,906 10,785 10,785 Foreign Currency treasury bills and bonds - - 61,216 20,277 69,226 16,527 16,527 Other Interest Income 827,644 381,752 Deposits and balances due from local banking institutions 159,416 606,418 606,418 Total Interest Income 445,266 1,979,783 1,562,116 1,324,198 Deposits and balances due from institutions abroad 1,447,798 -- -- --Government and other securities held for dealing purposes INTEREST EXPENSES TTax recoverable -- 2,8962,896 -- 222,077 222,077 1,074,242 1,074,242 326,450 326,450 Customer ...
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UNAUDITED FINANCI ASLTATEMENTSA ND DISCLOSURAESAT 31STMARCH 2010 BALANCESHEET(UMnAauR d2it0ed90)(DAEuCdi2t0e09d)(UMnARua d2itd)e100PROFIT&LOSSACCOUNT(UMnAauR di002dte9)DCE (dAui2t0de09)(UnMauRAd i2t0e1d0) Shs. ‘000Shs.‘000Shs. ‘000Shs. ‘000 Shs. ‘000 Shs. ‘000 ASSETSINTEREST INCOME Cash (both local and foreign) 149,492 171,287186,375Loans and advances326,8891,375,685373,511 Balances Due from Central Bank of Kenya 930,904 1,074,940 1,138,044Government securities 88,646 484,966 205,595 Kenya Government securities 3,708,857 6,715,477 9,532,521Deposits and placements with banking institutions 9,454 49,906 10,785 Foreign Currency treasury bills and bonds--61,216Other Interest Income 20,277 69,226 16,527 Deposits and balances due from local banking institutions 827,644 381,752159,416Total Interest Income2 1,979,783 606,418 Deposits and balances due from institutions abroad 1,562,116 1,324,198 1,447,798 445, 66 Government and other securities held fordealing purposes---INTEREST EXPENSES Tax recoverable2,896-Loans and advances to customers (net),059843-,8 10,615,380 11,304,945nosts and ptsDeposi redopisCsuotemtinstitukian ingrf sb moecaltnem 222,077 1 , 0 7141,,224626 6,32 03 654 0 Investment securities 2,095,605 2,087,870 Balances due from group companies80- 2,213,5- --TOotthaelr IInntteerreessttEExxpepnesnesses 2 3142,,766836- 1,085,508- 326,756 - Investments in associates--Investments in subsidiary companies---NET INTEREST INCOME/ (LOSS) 210,503 894,275 279,662 Investment in joint ventures---Investment properties--- TINGOTHER OPERA INCOME Property and equipment2,65- 3 24 339,460 348,820FOteheesr afenedscaonmdmciossmiomniss soionnlsoans and advances 3 94,,578256 62,250 1 8,17 57 4 84,,462822 Prepaid lease rentals 24,041--13,506 61,524 16,271 Intangible assets 16,85817,483Foreign Exchange trading income (Loss) Deferred tax asset 49,018 50,956 50,956D ividend Income 861 36,103 2,378 Retirement benefit asset---Other Income 16,256 97,798 46,357 Other assets 1,216,845 911,143 866,094Total Non-Interest Income 74,934 429,550 118,110 TOTAL ASSETS19,975,101 23,699,95 2 27,201,538TOTALOPERATING INCOME 285,43 7 1,323,825 397,772 LIABILITIES EXPENSESOPERA TING Balances due to Central Bank of Kenya1- 5,937,554--Loan loss provision 787,020106 96,719 27,000 Customer deposits 19,184,208 21,996,412Staff costs 39 Deposits and balances due to local banking institutions 18 2 615,64 2 648, 37,900 240,425Directors' emoluments 67,,670386 32372,,99005 ,793 18 2 59,2 Deposits and balances due to foreign banking institutions 387,409 644,171 Other money market deposits--Rentals charges , 31,047 10,691 Borrowed funds-----seempimAtndna uqe conrghatiortisa nhctaoiericDpeertyprop on arge 71 50,4 - 251 39, 0,07 31 79 41 ,6 - Balances due to group companies70,215--Other operating expenses 14696,,661244 219,282 55,893 Tax payable- - 44,102Total Other Operating Expenses 760,208 227,294 Dividends payable--Deferred tax liability----EPrxocfeiptti/o(nlaolsist)e mbsefore tax and exceptional items 8,81 11 3-17 -5 6,36 074,87- 1 Retirement benefit liability1,043,907--Profit / (loss) after exceptional ite 118,813 563,617 170,478 Other liabilities17,037,22 1 1,025,668 891,153ms (29,000) ( 61,477) (47,000) TOTAL LIABILITIES 20,635,185 23,816,263Current tax 1 Deferred Tax - 1,938 -SHAREHOLDERS'EQUITY Profit / (loss) after tax and exceptional items 89,813 404,078 123,478 Paid up / Assignedcapital 1,000,000 1,200,000 1,200,000 Share Premium (discount)240, 1,412 - - -MESSAGE FROM THEDIRECTORS Revaluation reserves 1,153,034 1,400,064 Retained earnings/Accumulated losses 697,468 661,733 785,211 Proposed dividends- 50,000 -The above are extracts from the financial statements and TOTAL SHAREHOLDERS FUNDS2,937,88 0 3,064,767 3,385,275records of the Bank. TOTAL LIABILITIES AND SHAREHOLDERS FUNDS 27,201,53819,975,101 23,699,952 OTHERDISCLOSURESMU(naAuRdit02de90)9(00 2ECDAudited)102 nU(0idua)detARMBharat Jani- CEO K. Sha S.-h Director a) Gross non-performing loans and advances619,381581,389ra NON-PERFORMING LOANS AND ADVANCESSh6s83.72‘,2507200 7 2S hs. ‘000Shs. ‘000corpo tee-banking7 day Less: b) Interest in suspense77,800 79,059 c) Total Non-Performing Loans and advances(a - b) 541,581502,330 Less: 452444,4,6055 5 bankingservicesbanking d) Loan loss Provision,395,675347,732 e) Net-Non Performing Loans (c-d) 120,250 145,906154,598icvSl iaodstCukemB Piresr f) Realizable value of securities 120,250 145,906154,598 g) Net NPLs Exposure (e-f)---an INSIDER LOANS AND ADVANCES a) Directors, shareholders and associates 995,381 759,984790,326 b) Employees 20,114 50,115 52,323 c) Total Insider Loans andAdvances 1,015,495 810,09 9 842,649 OFF-BALANCE SHEET ITEMS a) Letters of Credit, guarantees, acceptances 1,745,080 2,361,1962,492,051 b) Other contingent liabilities 636,910 880,955 1,636,791 c) Total contingent liabilities 2,381,99 0 3,242,15 14,128,842 CAPITAL STRENGTH a) Core capital1,642,2321,851,4041,913,143 b) Minimum Statutory Capital 250,000 350,000 350,000 c) Excess / (Deficiency) 1,392,232 1,501,404 1,563,143 d) Supplementary capital---e) Total Capital (a+d) 1,642,232 1,851,404 1,913,143 f) Total risk weighted assets 10,21703.,6601%1 11,763,212 11,238,691tFa o r+ 22m55o44r--e22i00n--f44o22r00m33a22ti11o66n ooCrral+l22u5s54 4-T-2o2 0dt0-oa4- 4ys2 2c00h33e11d33ot 3ued ch syourule ilnevyeosutrnni leno col oita yngtiucbr ouecneinednoc fo ctivnt as alitieem g) Core capital / total deposit liabilities8.00%9.90%8.70%initial consult aotri oEnmoarilEcumussatiloudisal@primebank.co.ke h) Minimum Statutory Ratio8.00%8.00% i) Excess / (Deficiency)2.60%16.00%1.90%0.70%HEAD OFFICE j) Core capital /total risk weighted assets16.20%15.40% k) Minimum Statutory Ratio8.00%8.00%8.00%Riverside Drive,. PO. Box 4382-500100 GPO, Nairobi, KEANY l) Excess / (Deficiency) (j-k)8.00%8.20%7.40%24 / 0003024.02.54+2: elT024.52.4:x+ aF810 44506 / 031145712Swift Code: PRIEKENX m) Total capital / total risk weighted assets16.20%15.40% n) Minimum Statutory Ratio610%0.21%00.12.00%12.00%adhek-knabe.co.ke www.primfoifecp@iremabknenya.com o) Excess / (Deficiency) (m-n)4.00%4.20%3.40%BRANCHES LIQUIDITY41.80%BiasharaStreet | Capital Centre| Hurlingham|Industrial Area a) Liquidity Ratio46.40%51.40%Kamukunji | KenIndia House|Parklands | Riverside Drive|Westlands b) Minimum Statutory Ratio20.00%20.00% c) Excess / (Deficiency) (a-b)2210..8000%%26.40%31.40%Kisumu | Mombasa|Nyali
