Annual Report 2015
67
Contents
Independent Auditors’ Report
68
Consolidated Statement of Financial Position
69
Consolidated Statement of Income
70
Consolidated Statement of Comprehensive Income
71
Consolidated Statement of Changes in Equity
72
Consolidated Statement of Cash Flows
73
Notes to the Consolidated Financial Statements
75
1 Corporate Information
75
2 Significant accounting policies
75
2.1 Basis of preparation
75
2.2 Basis of Consolidation
75
2.3 Changes in accounting policies
76
2.4 Standards in issue not yet effective
77
2.5 Improvements to International Financial
Reporting Standards
81
2.6 Summary of significant accounting policies
81
a Cash and cash equivalents
81
b Statutory deposit with Central Banks
81
c Financial instruments
82
d Impairment of financial assets
83
e Investments in Associates
84
f Leases
84
g Premises and equipment
85
h Impairment of non-financial assets
85
i Business combinations and goodwill
86
j Employee benefits
86
k Taxation
88
l Statutory reserves
88
m Fiduciary assets
89
n Earnings per share
89
o Foreign currency translation
89
p Revenue recognition
89
q Fair value
90
r Segment reporting
92
s Customers’ liability under acceptances,
guarantees, indemnities and letters of credit
92
3 Significant accounting judgements, estimates
and assumptions
92
4 Advances
94
5 Investment securities
98
6 Investments in associated companies
99
7 Premises and equipment
100
8 Goodwill
101
9 Employee benefits
103
10 Deferred tax assets and liabilities
108
11 Other assets
109
12 Customers’ current, savings and deposit accounts
109
13 Other fund raising instruments
109
14 Debt securities in issue
110
15 Other liabilities
111
16 Stated capital
111
17 Other reserves
112
18 Operating profit
113
19 Taxation expense
115
20 Related parties
116
21 Risk management
117
22 Capital management
130
23 Fair value
131
24 Material partly-owned subsidiaries
133
25 Segmental information
134
26 Maturity analysis of assets and liabilities
140
27 Equity compensation benefits
142
28 Dividends paid and proposed
144
29 Contingent liabilities
144
30 Subsidiary companies
145
31 Structured entities
146
32 Business combinations
146
33 Events after the reporting period
149
