| |
| PROFIT
AND LOSS ACCOUNT
| |
2009 |
2008 |
| |
=N=’000 |
=N=’000 |
| Gross
Income |
9,400,269 |
5,303,468 |
|
| Securities
Trading Income |
8,893,699 |
4,900,594 |
| Discount
Expense |
(7,869,767) |
(3,331,297) |
| |
|
|
| Net
Discount Income |
1,023,932 |
1,569,297 |
| Allowance for other assets |
206 |
2,098 |
| Other
Income |
506,570 |
402,874 |
| Recovery/(Provision)
for Risk Assets |
(83,522) |
(113,839) |
|
Net
Earnings |
1,447,186 |
1,860,430 |
|
| Operating
Expenses |
(1,286,756) |
(770,175) |
| Profit
before taxation |
160,430 |
1,090,255 |
| Taxation |
485,682 |
533,288 |
| Profit
after taxation |
646,112 |
1,623,543 |
| Appropriations: |
|
|
| Transfer
to Statutory Reserve |
(103,571) |
(243,803) |
| Transfer
to General Reserve |
(542,541) |
(1,379,740) |
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