EQUITY BANK GROUP

AUDITED FINANCIAL STATEMENTS

AND OTHER DISCLOSURES AS AT 31ST DECEMBER 2012
STATEMENT OF FINANCIAL POSITION
BANK GROUP CONSOLIDATED
31/12/11
31/12/12
31/12/11
31/12/12

Shs. 000 Shs. 000 Shs. 000
Shs. 000

A. ASSETS Audited Audited Audited Audited
1. Cash (both Local & foreign)

2. Balances due from central Bank of Kenya

3. Kenya Government securities

4. Foreign Currency Treasury Bills and Bonds

5. Deposits and balances due from banking institutions

6. Deposits and balances due from banking institutions abroad

7. Government and other securities held for dealing purposes

8. Tax recoverable

9. Loans and advances to customers (net)

10. Investment securities

11. Balances due from group companies

12. Investments in associates

13. Investments in subsidiary companies

14. Investments in joint ventures

15. Investment properties

16. Property and equipment

17. Prepaid lease rentals
18. Intangible assets
19. Deferred tax asset
20. Retirement benefit asset
21. Other assets

22. TOTAL ASSETS

23. Balances due to Central Bank of Kenya

24. Customer deposits

25. Deposits and balances due to Local banking institutions

26. Deposits and balances due to Foreign banking institutions
27. Other money market deposits
28. Borrowed funds
29. Balances due to group companies
30. Tax payable
31. Dividends payable.

32. Deferred tax liability

33. Retirement benefit liability
34. Other liabilities

35. TOTAL LIABILITIES

36. Paid up/Assigned capital

37. Share premium / (discount)
38. Revaluation reserve
39. Retained earnings / Accumulated losses
40. Statutory Loan Loss reserve
41. Proposed dividends

42. Capital grants

INTEREST EXPENSES

OTHER OPERATING INCOME

OPERATING EXPENSES

162,008,349

1,851,388
12,161,021
(1,062,134)
17,974,523
419,845
3,702,777
-

173,157,537

1,851,388
12,161,021
(731,853)
24,308,413
454,323
4,628,471
-

42,671,763
215,829,300

15,266,771

2,664,817

444,422

-

25,383,447
2,794,769
311,683
6,626

3,140,853
4,913,791
821,075
188,196
842,557

12,103,514

Current tax
Deferred tax

Earnings Per Share (Shs)

Dividend Per Share (Shs)

OTHER DISCLOSURES

3,282,313
5,187,917
696,827
180,078
415,915

9,763,050
31,874,668

1,455,875
5,884,522
20,110
846,935
1,734,133
283,953
5,589,533

5,166,764
258,598
1,458,452

3,353,706
5,923,170
1,969,830
23,269
1,177,033

1,629,648
5,988,598
26,085
927,935
1,581,625
163,723
5,673,288

(5,568,537)
505,769

2.64
1.00

2.97
1.25

10,996,839

12,863,346
36,827,479

1,608,316
7,145,470
26,887
1,460,912
2,028,220
287,775
7,021,225

154,876

170,733

(2,696,218)
187,356

12,834,019

3,560,952
6,309,445
1,900,459
5,195
1,087,295

16,059,607

10,325,157

(In Kshs millions)

17,419

16,000
14,000

12,834

12,000
10,000

9,045

8,000
6,000
4,000

5,022

5,278

2008

2009

2,378

2,000
0

2007

2010

2011

2012

GROWTH IN LOAN PORTFOLIO

(In Kshs millions)

140,000
120,000

135,692

113,824

100,000
80,000

78,302
63,378

60,000
44,194
40,000
21,836
20,000
0

2007

2008

2009

2010

2011

2012

30,847,947

15,990,902
12,679,143

GROWTH IN PROFIT BEFORE TAX

180,000

GROWTH IN CUSTOMER DEPOSITS

(In Kshs millions)

160,000

167,913

144,165

140,000
120,000
104,431
100,000
80,000

69,843

60,000
40,000

50,334
31,536

20,000
0

2007

2008

2009

2010

2011

2012

19,578,805
17,248,674
17,419,407

(5,878,980)
539,828

2.79
1.00

12,080,255

3.26
1.25
250,000

243,170

4,018,405
1,227,189

3,250,727
561,970

1,086,410
1,462,198

1,982,429
808,787

1,118,456
1,570,301

167,877

3,279,331
2,809,179

6,088,510

3,464,360
3,394,249

3,279,331
2,895,314

7,005,822

a) Letter of Credit, guarantees, acceptances

b) Forwards, Swaps and Options
c) Other contigent Liabilities

d) Total contigent Liabilities

4,900,656
826
2,334,733

5,166,588
8,873
2,294,355

5,415,359
826
2,336,846

6,029,673
8,873
2,294,355

a) Core Capital
b) Minimum statutory capital

19,589,322
700,000

29,524,772
1,000,000

These financial statements are extracts from the books of

the institution as audited by Ernst & Young and received
unqualified opinion.

15,216,709

The complete set of audited financial statements, statutory and

qualitative disclosures can be accessed on the Institutions

d) less Loan loss provision

e) Net non - performing loans (c-d)

f) Discounted value of securities

g) Net NPLs Exposure (e-f)

2) INSIDER LOANS AND ADVANCES

a) Directors, shareholders and associates

b) Employees

c) Total insider Loans and Advances and other Facilities

3) OFF BALANCE SHEET ITEMS

2,548,608

2,791,216

1,294,321

630,798

d) Supplementary capital

e) Total Capital (a+d)

18,889,322

8,044,140

27,633,462

1,570,301

177,989

6,858,609

7,236,216
7,469,816
4) CAPITAL STRENGTH
c) Excess / (defficiency)

2,688,757

28,524,722
44,741,481

f) Total Risk Weighted Assets 127,548,066 148,659,773

Ratios
g) Core Capital / Total Deposit Liabilities
16%
21%
h) Minimum statutory ratio

8%

8%

i) Excess / (defficiency) (g-h)

8%

13%

l) Excess / (defficiency) (j-k)

7%

12%

o) Excess / (defficiency) (m-n)

5) LIQUIDITY

10%

18%

j) Core Capital / Total Risk Weighted Assets

15%
20%
k) Minimum statutory Ratio
8%
8%
m) Total Capital / Total Risk Weighted assets
n) Minimum statutory Ratio

22%
12%

30%
12%

a) Liquidity Ratio
b) Minimum statutory Ratio
c) Excess / (defficiency) (a-b)

37%
20%
17%

46%
20%
26%

6,174,645

7,753,031

4,312,567
1,257,238

GROWTH IN TOTAL ASSETS

(In Kshs millions)

3,091,732
543,124

c) Total Non-Performing loans and advances (a-b)

2,131,451
179,068
806,014

15,815,061
16,059,607

1) NON PERFORMING LOANS AND ADVANCES

a) Gross non performing loans and advances
b) Less Interest in suspense

27,471,533
3,020,913
271,147
84,354

12,447,008
28,670,045

(2,507,167)
177,510

9,773,857

3,116,533
6,883,814
16,223,036 23,964,133

18,000

42,916,388
243,170,458

19,339,570

Profit/(loss) after exceptional items

16,580,710
2,669,330
84,202
5,329

13,363,488
12,103,514

1,851,388
12,161,021
(1,372,213)
25,034,934
566,733
4,628,471
46,054

28,496,525

9,906,472
25,467,002
1,533,233
5,164,421
20,986
687,361
1,338,748
144,918
4,473,821

1,851,388

12,161,021

(1,712,012)

17,715,214

567,159

3,702,777
-

4,736,298
140,999
1,507,610

165,812,458
2,100,325
26,568,809
2,365,036
16,246
38,122
3,353,074

200,254,070

34,285,547
196,293,896

7,703,654
13,395,120
22,844,379
7,959,084
9,997,868
14,037,451
9,993,377
55,330
135,692,125
304,520
2,286
1,456,447
8,494
9,071,802
292,358
2,301,522
819,876
7,234,765

243,170,458

-
-
-
121,774,061
140,285,671
140,446,501

3,718,360

2,100,325

3,718,360

-
-
-

-
-
-
13,768,876
25,755,053
14,792,277

-
-
-
417,108

2,257,874

487,452

17,265

16,246

17,265

-

-

536

-
-
-

2,167,906

2,742,368

2,545,957

6.8 Total Operating Expenses

Profit/(loss) before tax and exceptional items

Profit / (loss) after tax and exceptional items

196,293,896

2,815,480
6,384,907
15,560,530 22,111,618

6.1 Loan Loss Provision

6.2 Staff costs
6.3 Directors emoluments

6.4 Rental charges

6.5 Depreciation on property and equipment

6.6 Ammortisation charges
6.7 Other operating expenses

Exceptional items-share of profit of associate

7,166,639


8,565,694


22,616,694



26,301



1,734,925


17,814,951



7,594,887



53,484


113,823,792


264,588



123,080



1,365,892



-


-



8,494



7,593,617



28,661



2,237,346



243,546


-


5,031,306

215,829,300

1,849,599
159,867
806,015

4.1 Fees and commissions income on loans & advances

4.2 Other Fees and commissions income

4.3 Foreign exchange trading income

4.4 Dividend Income
4.5 Other income

4.6 Total Non-Interest Income

TOTAL OPERATING INCOME

18,376,010

2.1 Customer deposits

2.2 Deposits and placements from banking institutions
2.3 Other Interest expense

2.4 Total interest Expenses

NET INTEREST INCOME

35,047,420
176,910,996

1.1 Loans and advances

1.2 Government securities.

1.3 Deposits and placements with banking institutions

1.4 Other

1.5 Total Interest income

4,878,652
13,395,120
22,798,317



9,941,086

7,252,137

9,993,377


122,410,013


983,421

1,113,049

8,204,101



8,494

6,529,844

4,138

1,122,641

744,341


6,450,569

141,863,576

C. SHAREHOLDERS FUNDS

STATEMENT OF COMPREHENSIVE INCOME

INTEREST INCOME

176,910,996

B. LIABILITIES

43. TOTAL SHAREHOLDERS FUNDS

44. TOTAL LIABILITIES AND SHAREHOLDERS FUNDS

4,507,264
8,565,694
22,604,042
1,734,925
4,322,572
7,594,887
106,486,367
1,318,595
1,259,696
6,672,186
8,494
6,044,159
4,184
1,075,697
238,571
4,473,664

3,055,329

2,099,320
956,009

778,019

177,990

200,000

196,294

150,000

143,018

100,000
53,076

78,879

100,812

50,000
0

2007

2008

2009

2010

2011

2012

3,464,360
3,541,462

8,332,901

Website: www.ke.equitybankgroup.com
They may also be accessed at the institutions head office located at
Equity Centre, 9th floor, Hospital Road, Upper Hill, after approval by
members at the Annual General Meeting.
Signed: DR. JAMES MWANGI, CBS
CHIEF EXECUTIVE OFFICER/ MANAGING DIRECTOR
Signed: MR. PETER K. MUNGA, CBS
CHAIRMAN

HEAD OFFICE: Equity Centre, 9th floor, P.O. Box 75104-00200 Nairobi Tel: 020-2262000/0711026000/0732112000 Fax:0202737276
Email:info@equitybank.co.ke Website:www.ke.equitybankgroup.com