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AFRIBANK NIGERIA PLC

Nature of Business: Commercial banking.

Head Office Address: 94 Broad street, Lagos, P.M.B. 12021.

Telephone: (002341) 2664135,  2662301.

Fax:  (002341) 2663608.

Telex:  21345,  22382 AFRIBANK NG.

Email: N/A.

Website: None.

Date of Incorporation: 30.5.69

Date Listed on the Lagos Stock Exchange:  29.10.93.

Joint Auditors: Akintola Williams & Company (Chartered Accountants) & Arthur Andersen & Company (Chartered Accountants), Lagos.

End of Accounting Year: 31st December.

5-Year Financial Summary

 

Afribank Nigeria PLC    5Year Financial Summary   1993 - 1997

 

CAPITAL EMPLOYED 1997 1996 1995 1994 1994
N'm N'm N'm N'm N'm
Cash & Short Term Funds 12,713 8,547 9,219 4,664 3,593
Investments 6,067 6,427 5,423 5,954 4,564
Loans & Advances 13,602 9,927 6,143 2,658 2,024
Advances under Finance Lease 43 0 0 0 1
Other Assets 4,119 4,322 3,920 2,332 1,914
Equipment on Lease 107 144 138 41 54
Fixed Assets 1,935 1,502 1,198 764 620
Total Assets 38,586 30,869 26,041 16,413 12,770

LIABILITIES:
Deposits & other Accounts 29,663 21,215 18,087 10,977 8,477
Other Liabilities 5,957 6,962 5,432 4,182 3,197
Tax Payable 72 52 207 152 142
Debenture Stock 15 30 46 61 61
35,707 28,259 23,772 15,372 11,877
Net Assets 2,879 2,610 2,269 1,041 893

SHAREHOLDERS' FUND
Share Capital 552 331 281 281 225
Share Premium 203 203 0 0 0
Reserve for Bonus Issue 0 221 0 0 56
Statutory Reserve 589 519 480 332 238
Debenture Redemption Reserve 51 41 30 20 10
General Reserve 1,484 1,295 1,478 408 364
2,879 2,610 2,269 1,041 893
Contingent Liabilities 7,935 6,729 6,010 2,164 2,396
Gross Earnings 5,469 5,128 4,556 3,038 2,613
Profit before Tax 457 48 838 379 426
Tax (81) 15 (199) (117) (121)
Extra-ordinary Item (63) 0 0 0 0
Profit after Tax 313 63 639 262 305
Dividend 110 133 141 96 68
Per Share Data (in kobo)
Earnings per Share - adjusted 34 6 58 24 28
Dividend per Share - adjusted 10 12 13 9 6
Net Assets per Share - adjusted 261 236 205 94 81

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