Analysis of Bank Statement
Guaranty Trust Bank Plc and Subsidiary Companies
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
GUARANTY TRUST BANK PLC
Orange Rules
Guaranty Trust Bank Plc and Subsidiary Companies
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
Contents
Page
Consolidated financial statements
Consolidated balance sheet 1
Consolidated income statement 2
Consolidated statement of recognised income and expense 3
Consolidated statement of cash flows 4
Notes to the consolidated financial statements 5
Independent auditors’ report 73
Guaranty Trust Bank Plc and Subsidiary Companies
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
1
Consolidated balance sheet
As at 29 February
In thousands of Nigerian Naira Notes 2008 2007
Assets
Cash and cash equivalents 4, 18 110,594,499 112,321,378
Trading assets 7, 19 156,880,152 8,663,110
Pledged assets 7, 20 91,128,364 55,532,740
Derivative assets held for risk management 7, 11 2,332,281 -
Loans and advances to banks 4, 7, 21 8,166 105,710
Loans and advances to customers 4, 7, 22 291,341,275 116,843,027
Investment securities 4, 7, 23 9,923,743 132,632,773
Trading properties under development 24 12,062,730 -
Property and equipment 25 29,582,942 17,647,141
Intangible assets 26 2,091,238 1,501,292
Deferred tax assets 27 20,649 49,874
Other assets 28 26,687,388 31,535,276
Total assets 732,653,427 476,832,321
Liabilities
Deposits from banks 4, 7, 29 75,655,473 34,259,548
Deposits from customers 4, 7, 30 373,727,004 309,167,352
Debt securities issued 4, 7, 31 40,698,171 44,967,782
Current tax liabilities 5,851,198 3,486,165
Deferred tax liabilities 27 1,992,477 -
Other liabilities 32 57,675,150 22,218,429
Other borrowed funds 4, 7, 33 15,401,436 13,380,054
Total liabilities 571,000,909 427,479,330
Equity
Share capital and share premium 35 125,916,273 25,391,928
Retained earnings 35 4,300,755
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
GUARANTY TRUST BANK PLC
Orange Rules
Guaranty Trust Bank Plc and Subsidiary Companies
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
Contents
Page
Consolidated financial statements
Consolidated balance sheet 1
Consolidated income statement 2
Consolidated statement of recognised income and expense 3
Consolidated statement of cash flows 4
Notes to the consolidated financial statements 5
Independent auditors’ report 73
Guaranty Trust Bank Plc and Subsidiary Companies
Consolidated Financial Statements – 29 February 2008
Together with Auditors’ Reports
1
Consolidated balance sheet
As at 29 February
In thousands of Nigerian Naira Notes 2008 2007
Assets
Cash and cash equivalents 4, 18 110,594,499 112,321,378
Trading assets 7, 19 156,880,152 8,663,110
Pledged assets 7, 20 91,128,364 55,532,740
Derivative assets held for risk management 7, 11 2,332,281 -
Loans and advances to banks 4, 7, 21 8,166 105,710
Loans and advances to customers 4, 7, 22 291,341,275 116,843,027
Investment securities 4, 7, 23 9,923,743 132,632,773
Trading properties under development 24 12,062,730 -
Property and equipment 25 29,582,942 17,647,141
Intangible assets 26 2,091,238 1,501,292
Deferred tax assets 27 20,649 49,874
Other assets 28 26,687,388 31,535,276
Total assets 732,653,427 476,832,321
Liabilities
Deposits from banks 4, 7, 29 75,655,473 34,259,548
Deposits from customers 4, 7, 30 373,727,004 309,167,352
Debt securities issued 4, 7, 31 40,698,171 44,967,782
Current tax liabilities 5,851,198 3,486,165
Deferred tax liabilities 27 1,992,477 -
Other liabilities 32 57,675,150 22,218,429
Other borrowed funds 4, 7, 33 15,401,436 13,380,054
Total liabilities 571,000,909 427,479,330
Equity
Share capital and share premium 35 125,916,273 25,391,928
Retained earnings 35 4,300,755