DIAMOND BANK PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE

PERIOD ENDED: 31st Mar 2011 31st Mar 2010 31st Mar 2011 31st Mar 2010
Group Group Bank Bank
N'000 N'000 N'000 N'000
Notes
Gross Earnings 20,270,781 24,464,216 19,317,410 22,733,718
Interest and Discount Income 1 14,422,973 18,172,808 14,162,200 17,694,419
Interest Expense 2 (2,075,160) (7,959,604) (2,122,451) (7,735,367)
Net Interest And Discount Income 12,347,813 10,213,204 12,039,750 9,959,052
Other Income 5,847,808 6,291,408 5,155,210 5,039,299
Operating Income 18,195,621 16,504,612 17,194,959 14,998,351
Operating Expenses 3 (11,861,362) (11,566,532) (10,799,125) (10,114,828)
Operating Profit before Tax 6,334,259 4,938,080 6,395,834 4,883,523
Provision For Losses (4,521,261) (2,939,283) (4,505,410) (2,817,645)
Profit/(Loss) Before Taxation 1,812,998 1,998,797 1,890,424 2,065,878
Taxation (737,525) (471,403) (661,649) (413,175)
Profit/(Loss) After Taxation 1,075,473 1,527,394 1,228,776 1,652,703
Non-controling Interest 10,964 9,407 - -
Profit Attributable To The Group 1,064,509 1,517,987 1,228,776 1,652,703
Key Financial Information
Total Non-Performing Loans 52,449,713 65,234,512 49,764,133 62,193,996
Total Non-Performing Loans To Total Loans 14.4% 17.5% 14.0% 17.1%
Basic Eps (Annualized, Kobo) 30 33 34 46
Diluted Eps (Annualized, Kobo) 30 33 34 46
DIAMOND BANK PLC
CONSOLIDATED BALANCE SHEET AS AT : 31st Mar 2011 31st Dec. 2010 31st Mar 2011 31st Dec. 2010
Group Group Bank Bank
Notes N'000 N'000 N'000 N'000
Assets
Cash And Balances With Central Banks 4 26,370,163 27,606,200 20,002,896 17,764,318
Due from Other Banks & Financial Institutions 5 102,630,568 66,815,068 93,830,040 61,609,150
Short Term Investment 41,234,276 51,302,987 28,921,261 43,063,637
Loans and Advances to Customers 6 321,378,189 307,135,161 317,422,427 307,828,170
Advances Under Finance Lease 7 5,640,556 5,071,279 5,633,889 5,071,279
Deferred Taxation 4,824,529 4,757,142 3,265,430 3,265,430
Other Assets 22,535,996 18,109,748 11,750,613 8,386,866
Investment Securites 8 71,602,542 73,491,632 51,412,417 49,528,513
Investment in subsidiaries 9 - - 20,173,583 17,442,980
Investment Property 3,927,253 3,755,064 - -
Property Plant & Equipment 36,675,595 36,750,856 34,309,736 34,442,217
Total Assets 636,819,667 594,795,137 586,722,292 548,402,560
Liabilities
Deposits 10 448,505,148 412,031,918 410,738,379 378,733,006
Due to Other Banks & Financial Institutions 3,696,704 15,347,216 3,696,704 4,104,098
Current Taxation 1,861,303 1,995,250 1,649,557 1,649,557
Deferred Taxation 580,464 580,464 580,464 580,464
Other Liabilities 47,346,461 29,474,415 25,432,695 18,173,265
Borrowings 11 27,743,334 28,281,011 27,743,334 28,281,011
Total Liabilities 529,733,414 487,710,274 469,841,133 431,521,401
Equity
Share capital 7,237,622 7,237,622 7,237,622 7,237,622
Reserves 99,391,580 99,391,580 109,643,537 109,643,537
106,629,202 106,629,202 116,881,159 116,881,159
Non-controlling Interest 457,051 455,661 - -
Liabilities and Equity 636,819,667 594,795,137 586,722,292 548,402,560
Acceptances and guarantees 238,043,892 228,845,811 150,690,694 155,424,498
DIAMOND BANK PLC
CONSOLIDATED CASHFLOW STATEMENT FOR THE PERIOD
ENDED: 31st Mar 2011 31st Dec. 2010 31st Mar 2011 31st Dec. 2010
Group Group Bank Bank
N'000 N'000 N'000 N'000
Net cash generated from operating activities 30,684,028 (23,544,183) 28,922,219 (36,037,951)
Investing Activities
Purchase of Long Term Investment Securities - Bonds (1,003,900) (9,851,099) (993,527) (9,688,084)
Sale of Long Term Bonds - 1,327,323 - 328,462
Additional Investment In Subsidiaries - - (2,730,603) (1,000,000)
Addition to Investment Property (172,189) (427,452) - -
Proceeds from Sale of Investment Property - 147,000 - -
Purchase of Property and Equipment (1,383,825) (4,385,205) (1,383,825) (4,166,145)
Proceeds from Sale of Property and Equipment 417,747 232,315 417,747 266,607
Net Cash From Investing Activities (2,142,167) (12,957,118) (4,690,209) (14,259,160)
Financing Activities
Repayment of Borrowings (537,677) (6,279,985) (537,677) (6,279,986)
Dividend Paid to Shareholders (473) (91,372) (473) (91,373)
Proceed of New Borrowings - 15,510,000 - 15,510,000
Net Cash From Financing Activities (538,150) 9,138,643 (538,150) 9,138,641
Effect of Exchange Rate Changes on Cash and Cash
Equivalents (116,190) (305,883) - -
Increase In Cash and Cash Equivalents 27,887,520 (27,668,541) 23,693,860 (41,158,470)
Analysis of Changes In Cash and Cash Equivalents
Balance as st beginning of period 142,347,487 170,016,028 119,060,337 160,218,807
Balance as at end of period 170,235,007 142,347,487 142,754,197 119,060,337
Increase In Cash and Cash Equivalents 27,887,520 (27,668,541) 23,693,860 (41,158,470)
DIAMOND BANK PLC
NOTES TO THE ACCOUNT 31st Mar 2011 31st Mar 2010 31st Mar 2011 31st Mar 2010
Group Group Bank Bank
N'000 N'000 N'000 N'000
1 Interest and discount income
Placements and short-term funds 916,601 321,462 820,403 208,200
Treasury bills and investment securities 1,961,847 431,784 1,952,144 415,162
Risk assets 11,544,525 17,419,562 11,389,653 17,071,057
14,422,973 18,172,808 14,162,200 17,694,419
2 Interest expense
Inter-bank takings 4,564 - 4,564 -
Current accounts 136,432 201,356 136,424 201,335
Time deposits 1,131,673 6,823,594 1,131,409 6,819,136
Savings accounts 677,317 340,288 677,014 339,726
Borrowed funds 125,174 594,366 173,040 375,170
Others - - - -
2,075,160 7,959,604 2,122,451 7,735,367
3 Operating expenses
Staff costs 4,165,378 3,635,263 3,744,998 3,303,941
Depreciation 1,250,053 1,184,282 1,106,295 1,070,132
Other operating expenses 6,445,930 6,746,987 5,947,832 5,740,755
11,861,362 11,566,532 10,799,125 10,114,828
31st Mar 2011 31st Dec. 2010 31st Mar 2011 31st Dec. 2010
Group Group Bank Bank
N'000 N'000 N'000 N'000
4 Cash and balances with central banks
Cash & Short Term Funds 12,703,541 9,433,800 8,044,786 7,859,065
Operating with central banks 10,254,559 14,795,632 11,958,110 6,528,485
Included in cash and cash equivalents 22,958,099 24,229,432 20,002,896 14,387,550
Mandatory reserve deposits with central banks 3,412,063 3,376,768 - 3,376,768
Escrow balances with central banks
26,370,163 27,606,200 20,002,896 17,764,318
5 Due from other banks
Banks within Nigeria 8,068,644 18,647 - -
Banks Outside Nigeria 35,806,575 24,441,867 35,806,575 19,377,042
Placements with banks and discount houses 58,975,846 42,354,554 58,023,465 42,232,108
Provisioin for doubtful balances (220,497) - - -
102,630,568 66,815,068 93,830,040 61,609,150
6 Loans and advances to customers
Overdrafts 118,317,108 76,728,580 117,758,838 99,870,391
Term loans 240,832,114 262,793,426 232,516,133 235,988,074
Commercial papers - 393,511 - -
359,149,222 339,915,517 350,274,971 335,858,465
General Provision (2,867,264) - (2,867,264) -
Specific Provision (23,808,248) (23,708,591) (19,706,831) (19,749,088)
Interest in suspense (11,095,521) (9,071,765) (10,278,449) (8,281,207)
321,378,189 307,135,161 317,422,427 307,828,170
Analysis by performance
Performing 306,699,509 288,793,843 300,510,839 289,252,958
Non-performing 52,449,713 51,121,674 49,764,133 46,605,507
359,149,222 339,915,517 350,274,971 335,858,465
DIAMOND BANK PLC
NOTES TO THE ACCOUNT (contd.)
31st Mar 2011 31st Dec. 2010 31st Mar 2011 31st Dec. 2010
Group Group Bank Bank
N'000 N'000 N'000 N'000
7 Advances under finance lease
Investment 5,696,984 5,737,504 5,690,317 5,737,504
Less: Unearned Income - (666,225) - (666,225)
Net Investment 5,696,984 5,071,279 5,690,317 5,071,279
General Provision (56,428) - (56,428)
5,640,556 5,071,279 5,633,889 5,071,279
Analysis by performance
Performing 5,696,984 5,071,279 5,690,317 5,071,279
Non-performing -
5,696,984 5,071,279 5,690,317 5,071,279
8 Investment securities
Debt securities- at cost
listed 47,881,171 45,270,953 42,502,432 40,511,663
Unlisted 5,500,102 7,552,309 4,424,283 4,424,283
Equity securities- at cost
Listed 4,428,415 11,269,381 - 1,280,073
Unlisted 17,647,857 14,583,279 4,485,702 4,480,432
Provision for diminution in value (3,855,004) (5,184,290) - (1,167,938)
71,602,542 73,491,632 51,412,417 49,528,513
9 Investment in subsidiaries
Diamond Bank du Benin S.A - - 5,865,623 3,135,020
Diamond Pension Fund Custodian Limited - - 2,000,000 2,000,000
Diamond Mortgages Limited - - 1,000,000 1,000,000
ADIC Insurance Limited - - 6,307,960 6,307,960
Diamond Capital & Financial Mkts Ltd - - 5,000,000 5,000,000
- - 20,173,583 17,442,980
10 Customer deposits
Demand 230,535,735 203,871,527 213,224,724 189,025,468
Time 110,601,068 110,468,884 98,387,797 98,270,906
Savings 107,368,345 97,691,507 99,125,857 91,436,632
448,505,148 412,031,918 410,738,379 378,733,006
11 Borrowings
Local Banks 15,171,237 15,373,750 15,171,237 15,373,750
Foreign financial institutions 12,572,097 12,907,261 12,572,097 12,907,261
Multilateral credit Institutions - - - -
27,743,334 28,281,011 27,743,334 28,281,011