I. STATEMENT OF FINANCIAL POSITION
As at 31 December 2014
BANK
31-Dec-14
Shs’000
BANK
31-Dec-13
Shs’000
GROUP
31-Dec-14
Sh...
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National Bank of Kenya limited FY 2014 financial results

National Bank of Kenya limited listed on the Nairobi Securities Exchange has released its full year results. Check out insights into this company in their presentation which appears below. Sign up to the www.theinvestormailinglist.com to receive earnings presentations of all listed companies in Africa by email
Published on: Mar 3, 2016
Published in: Investor Relations      
Source: www.slideshare.net


Transcripts - National Bank of Kenya limited FY 2014 financial results

  • 1. I. STATEMENT OF FINANCIAL POSITION As at 31 December 2014 BANK 31-Dec-14 Shs’000 BANK 31-Dec-13 Shs’000 GROUP 31-Dec-14 Shs’000 GROUP 31-Dec-13 Shs’000 Audited Audited Audited Audited A ASSETS 1 Cash ( both Local & Foreign) 2,750,613 3,394,255 2,980,344 3,501,986 2 Balances due from Central Bank of Kenya 14,214,869 5,998,426 14,214,869 5,998,426 3 Kenya Government and other securities held for dealing purposes - - - - 4 Financial Assets at fair value through profit and loss - - - - 5 Investment Securities:(a+b) 30,259,345 27,537,016 30,259,345 27,537,016 a) Held to Maturity:(i+ii) 25,645,729 27,001,290 25,645,729 27,001,290 i. Kenya Government securities 25,477,424 26,864,623 25,477,424 26,864,623 ii. Other securities 168,305 136,667 168,305 136,667 b) Available for sale:(i+ii) 4,613,616 535,726 4,613,616 535,726 i. Kenya Government securities 4,613,616 535,726 4,613,616 535,726 ii. Other securities - - - - 6 Deposits and balances due from local banking institutions 1,337,738 7,801,164 1,337,738 7,801,164 7 Deposits and balances due from banking institutions abroad 695,924 482,297 695,924 482,297 8 Tax recoverable 431,696 - 423,518 - 9 Loans and advances to customers (net) 65,641,491 39,566,678 65,641,491 39,566,678 10 Balances due from banking institutions in the group - - - - 11 Investments in associates - - - - 12 Investments in subsidiary companies 19,963 19,963 19,963 19,963 13 Investments in joint ventures - - - - 14 Investment properties - - - - 15 Property and equipment 4,550,257 3,913,888 4,551,542 3,914,347 16 Prepaid lease rentals 419 425 419 425 17 Intangibleassets 965,539 999,070 966,192 1,000,095 18 Deferred tax asset - - - - 19 Retirement benefit asset - - - - 20 Other assets 1,997,032 2,779,853 2,000,651 2,733,320 21 TOTAL ASSETS 122,864,886 92,493,035 123,091,996 92,555,717 B LIABILITIES 22 Balances due to Central Bank of Kenya - - - - 23 Customer deposits 104,733,709 77,992,820 104,733,709 77,992,820 24 Deposits and balances due to local banking institutions 5,077,625 824,858 5,077,625 824,858 25 Deposits and balances due to foreign banking institutions - - - - 26 Other money market deposits - - - - 27 Borrowed funds - - - - 28 Balances due to banking institutions in the group 21,976 21,976 21,976 21,976 29 Tax payable - 272,633 - 273,873 30 Dividends payable 38,085 31,070 38,085 31,070 31 Deferredtaxliability 25,460 83,894 25,227 83,801 32 Retirement benefit liability - - - - 33 Other liabilities 854,119 1,417,492 971,351 1,438,920 34 TOTAL LIABILITIES 110,750,974 80,644,743 110,867,973 80,667,318 C SHAREHOLDERS' FUNDS 35 Paid up /Assigned capital 7,075,000 7,075,000 7,075,000 7,075,000 36 Share premium/(discount) - - - - 37 Revaluation reserves 1,188,147 1,201,022 1,188,147 1,201,022 38 Retained earnings/Accumulated losses 3,268,312 3,237,428 3,378,423 3,277,535 39 Statutory loan loss reserves 565,456 334,842 565,456 334,842 40 Other Reserves 16,997 - 16,997 - 41 Proposeddividends - - - - 42 Capital grants - - - - 43 TOTALSHAREHOLDERS'FUNDS 12,113,912 11,848,292 12,224,023 11,888,399 44 TOTALLIABILITIES&SHAREHOLDERS'FUNDS 122,864,886 92,493,035 123,091,996 92,555,717 II. STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2014 BANK 31-Dec-14 BANK 31-Dec-13 GROUP 31-Dec-14 GROUP 31-Dec-13 Shs’000 Shs’000 Shs’000 Shs’000 Audited Audited Audited Audited 1 Interest Income 1.1 Loans and advances 7,562,961 4,765,803 7,562,961 4,765,803 1.2 Government securities 2,979,003 3,170,348 2,979,003 3,170,348 1.3 Deposits and placements with banking institutions 155,108 170,859 155,108 170,859 1.4 Other Interest Income 108 58,780 108 58,780 1.5 TOTAL INTEREST INCOME 10,697,180 8,165,790 10,697,180 8,165,790 2 Interest Expense 2.1 Customer deposits 3,620,665 2,376,286 3,620,665 2,376,286 2.2 Deposits and placements from banking institutions 281,458 145,441 273,886 145,441 2.3 Other interest expenses 5,178 5,949 5,178 5,949 2.4 TOTAL INTEREST EXPENSES 3,907,301 2,527,676 3,899,729 2,527,676 3 NET INTEREST INCOME 6,789,879 5,638,114 6,797,451 5,638,114 4 Non-Interest Income 4.1 Fees and commissions on loans and advances 406,095 430,379 406,095 430,379 4.2 Other fees and commissions 1,592,355 1,125,185 1,725,152 1,176,033 4.3 Foreign exchange trading income (loss) 434,229 309,323 434,229 309,323 4.4 Dividend Income - - - - 4.5 Other Income 571,267 941,303 571,267 941,303 4.6 TOTAL NON-INTEREST INCOME 3,003,946 2,806,190 3,136,743 2,857,038 5 TOTAL OPERATING INCOME 9,793,825 8,444,304 9,934,194 8,495,152 6 Other Operating Expenses 6.1 Loan loss provision 525,307 287,640 525,307 287,640 6.2 Staff costs 3,679,870 3,557,848 3,710,219 3,570,349 6.3 Directors' emoluments 77,109 137,711 77,109 137,711 6.4 Rental charges 252,968 177,033 256,067 178,233 6.5 Depreciation charge on property and equipment 349,359 326,944 349,609 326,944 6.6 Amortisation charges 300,859 238,059 301,231 238,059 6.7 Other operating expenses 2,276,473 1,939,625 2,282,967 1,944,048 6.8 Total Operating Expenses 7,461,945 6,664,860 7,502,509 6,682,984 7 PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS 2,331,880 1,779,444 2,431,685 1,812,168 8 Exceptional items (1,128,554) - (1,128,554) - 9 Profit after exceptional items 1,203,326 1,779,444 1,303,131 1,812,168 10 Current tax (461,062) (829,161) (491,003) (838,874) 11 Deferred tax 58,434 139,613 58,574 139,509 12 Profit after tax and exceptional items 800,698 1,089,896 870,702 1,112,803 13 OTHER COMPREHENSIVE INCOME 13.1 Gains/(Losses) from translating the financial statements of foreign operations - - - - 13.2 Fair value changes in available for sale financial assets 16,997 - 16,997 - 13.3 Revaluation surplus on Property,plant and equipment - 966,493 - 966,493 13.4 Share of other comprehensive income of associates - - - - 13.5 Income tax relating to components of other comprehensive income - (289,948) - (289,948) 14 Other Comprehensive Income for the year net of tax 16,997 676,545 16,997 676,545 15 TOTAL COMPREHENSIVE INCOME FOR THE YEAR 817,695 1,766,441 887,699 1,789,348 16 EARNINGSPERSHARE-basic&diluted Shs2.86 Shs2.24 Shs3.11 Shs2.32 III. OTHER DISCLOSURES BANK 31-Dec-14 Shs’000 BANK 31-Dec-13 Shs’000 Audited Audited 1 Non-performing loans and advances a Gross non-performing loans and advances 7,236,684 4,212,274 b Less: Interest in suspense 188,555 42,625 c Total Non-performing loans and advances (a-b) 7,048,129 4,169,649 d Less: Loan loss Provisions 2,263,409 1,757,713 e Net NPLs exposure (c-d) 4,784,720 2,411,936 f Discounted Value of Securities 4,784,720 2,411,936 g Net NPLs exposure (e-f) - - 2 Insider loans and Advances a Directors, Shareholders and associates 113,283 88,024 b Employees 4,851, 152 4,644,893 c Total insider loans, advances and other facilities 4,964,435 4,732,917 3 Off-Balance sheet items a Letters of credit, guarantees and acceptances 5,350,757 4,000,988 b Forwards, swaps and options 2,670,353 392,944 c Other contingent liabilities - 64,800 d Total contingent liabilities 8,021,110 4,458,732 4 Capital Strength a Core capital 10,343,312 10,312,428 b Minimum Statutory Capital 1,000,000 1,000,000 c Excess/(Deficiency) (a-b) 9,343,312 9,312,428 d Supplementary capital 862,493 635,098 e Total capital (a+d) 11,205,805 10,947,526 f Total risk weighted assets 80,433,021 45,332,793 g Core capital/total deposit liabilities 9.9% 13.3% h Minimum Statutory Ratio 8.0% 8.0% I Excess/(Deficiency) (g-h) 1.9% 5.3% j Core capital/total risk weighted assets 12.9% 17.1% k Minimum Statutory Ratio 8.0% 8.0% l Excess/(Deficiency) (j-k) 4.9% 9.1% m Total capital/total risk weighted assets 13.9% 18.2% n Minimum Statutory Ratio 12.0% 12.0% o Excess/(Deficiency)(m-n) 1.9% 6.2% 5 Liquidity a Liquidity Ratio 31.5% 42.0% b Minimum Statutory Ratio 20.0% 20.0% c Excess/(Deficiency)(a-b) 11.5% 22.0% DIVIDENDS The directors do not recommend the payment of a dividend in respect of the financial year ended 31 December 2014. APPROVAL These financial statements are extracts from the books of the institution as audited by Deloitte & Touche and have received an unqualified opinion. The complete set of quarterly financial statements, statutory and qualitative disclosures can be accessed on the Bank’s website www.nationalbank.co.ke. The audited financial statements were approved by the Board of Directors on 3 March 2015 and signed on its behalf by: M.A. Hassan - Chairman M.S. Ahmed - Managing Director H.Waswani - Company Secretary ANNUAL GENERAL MEETING Notice is hereby given that the forty sixth annual general meeting of the shareholders of National Bank of Kenya Limited will be held at the Safari Park Hotel, Nairobi on Friday 27 March 2015 at 10:00 am. REGISTERED OFFICE National Bank Building, 18 Harambee Avenue, Nairobi. P.O. BOX 72866, 00200, Nairobi. Telephone:2828000, 0711038000, 0732018000 Fax : 311444 E-Mail : info@nationalbank.co.ke Website : www.nationalbank.co.ke The Board of Directors of National Bank of Kenya Limited hereby announce the audited results for the year ended 31 December 2014 Bank at your Convenience with NatConnect Internet Banking Make multiple payments...right from where you are. It doesn’t get any better! Bank on better callcentre@nationalbank.co.ke +254 20 282 89 000 | +254 703 088 900 | +254 732 118 900 For more information please contact National Bank is regulated by the Central Bank of Kenya

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