| |
| PROFIT
AND LOSS ACCOUNT
| |
2003 |
2002 |
| |
=N=’000 |
=N=’000
|
| Gross
Income |
2,921,606 |
3,379,942 |
|
| Securities
Trading Income |
2,918,806 |
3,379,759 |
| Discount
Expense |
(1,798,313) |
(2,355,853)
|
| |
|
|
| Net
Discount Income |
1,120,493 |
1,023,906 |
| Other
Income |
2,800 |
183 |
| |
1,123,293 |
1,024,089 |
| Provision
for Risk Assets |
(291,183) |
(285,901) |
| Net
Earnings |
832,110 |
738,188 |
| Operating
Expenses |
(235,221) |
(186,858) |
| Profit
before taxation |
596,889 |
551,330 |
| Taxation |
(201,061) |
(174,922) |
| Profit
after taxation |
395,828 |
376,408 |
| Appropriations: |
|
|
| Transfer
to Statutory Reserve |
(59,375) |
(56,462) |
| Proposed
Dividend |
(97,500) |
(52,000) |
| Transfer
to Retained Earnings |
(238,953) |
(267,946) |
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