| |
| PROFIT
AND LOSS ACCOUNT
| |
2008 |
2007 |
| |
=N=’000 |
=N=’000 |
| Gross
Income |
5,303,468 |
3,351,108 |
|
| Securities
Trading Income |
4,900,594 |
3,297,689 |
| Discount
Expense |
(3,331,297) |
(1,922,620) |
| |
|
|
| Net
Discount Income |
1,569,297 |
1,375,069 |
| Other
Income |
404,972 |
50,037 |
| Recovery/(Provision)
for Risk Assets |
(113,839) |
31,149 |
|
Net
Earnings |
1,860,430 |
1,385,957 |
|
| Operating
Expenses |
(770,175) |
(661,404) |
| Profit
before taxation |
1,090,255 |
724,553 |
| Taxation |
533,288 |
42,457 |
| Profit
after taxation |
1,623,543 |
682,096 |
| Appropriations: |
|
|
| Transfer
to Statutory Reserve |
(243,803) |
(104,850) |
| Transfer
to General Reserve |
(1,379,740) |
(577,246) |
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