Annual Report 2015
101
7 PREMISES AND EQUIPMENT
(continued)
Capital
Equipment,
works in
Freehold
Leasehold furniture and
progress
premises
premises
fittings
Total
2014
(continued)
Accumulated depreciation
At beginning of year
–
185,059
90,740
1,076,127
1,351,926
Exchange and other adjustments
–
(748)
(152)
(3,841)
(4,741)
Charge for the year
–
18,876
4,472
127,441
150,789
Disposal of assets
–
(43,600)
(706)
(91,363)
(135,669)
–
159,587
94,354
1,108,364
1,362,305
Net book value
172,708
993,668
31,760
375,367
1,573,503
Capital commitments
2015
2014
Contracts for outstanding capital expenditure not provided
for in the consolidated financial statements
378,100
437,591
Other capital expenditure authorised by the Directors
but not yet contracted for
89,333
93,432
8 GOODWILL
Notes
2015
2014
Goodwill on acquisition brought forward
300,971
485,971
Translation adjustment
(151)
–
Goodwill arising on acquisition of subsidiaries
32
337,302
–
Goodwill written off during the year
(31,510)
(185,000)
606,612
300,971
Goodwill arising from business combinations was primarily generated from the acquisitions of Republic Bank (Barbados) Limited, HFC
Bank (Ghana) Limited, Republic Bank (Suriname) N.V. and acquisitions by Republic Bank (Cayman) Limited and Republic Bank (Guyana)
Limited.
