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NATIONAL BANK OF COMMERCE LTD  INCOME STATEMENT FOR THE QUARTER ENDED
30.06.2002 (AMOUNT IN MILLION SHILLINGS)

Current 
Previous
Current year 
Previous year 
quarter
quarter
Cumulative
Cumulative
ending
30.6.2002
ending
31.03.2002
30.6.2002
30.6.2001
1 Interest Income
 5,000
                               4,707
9,707
                                      11,096
2 Interest Expense
                                   (616)
                                 (690)
(1,306)
                                     (3,263)
3 Net Interest Income
4,384
4,017
8,401
 7,833
4 Bad Debts Written Off
                                       (6)
                                  (125)
(131)
                                     (7,274)
5 Provision For Bad & Doubtful Debts
                                    (115)
                                1,424
1,309
                                      12,137
6 Non Interest Income:
3,643
4,249
 7,892
 8,612
6.1 Foreign Exchange Profit/(Loss)
                                     918
                                1,420
2,338
                                        2,100
6.2 Commissions And Fees
2,725
                               2,829
5,554
                                         6,511
7 Non Interest Expense
                              (3,458)
                              (5,951)
(9,409)
                                     (6,772)
8 Operating Income/(Loss) Before Tax
4,448
3,614
8,062
14,536
and Extraordinary Items
9 Extraordinary Gains (Losses)
                                        -  
                                       -  
                            -  
                                              -  
10 Income Tax Provisions
                               (1,475)
                                 (950)
(2,425)
                                       (1,716)
11 Net Income/(Loss) after Income
2,973
2,664
 5,637
12,820
Tax and Extraordinary items
12 Recoveries on behalf of the Government
                                    534
(734)
(200)
(6,962)
 of Tanzania
14 Profits attributable to shareholders
3,507
 1,930
5,437
5,858
Number Of Employees
                                    785
                                   883
                        785
 894
PERFORMANCE INDICATORS
(i) Return on average total assets*
3%
3%
3%
8%
(ii) Return on ordinary Shareholders' Funds
37%
35%
36%
64%
(iii)Non interest expense to gross income
40%
57%
53%
34%
(iv) Net interest margin to average interest earning assets
8%
7%
6%
6%

  * Return on average total assets is computed using.Profit After Tax and average of current year and previous year total assets.

Notes:

1. NBC Limited has changed its depreciation policy to be in line with that of its holding company ABSA.
The before tax effect of this is additional income of Tanzanian shillings 2,876 million.

2. During the quarter NBC Limited retrenched 94 staff members. The cost before taxation amounted to
Tanzanian shillings 1,018 million.

 

NATIONAL BANK OF COMMERCE LTD
 BALANCE SHEET AS AT 30.06.2002

(AMOUNT IN MILLION SHILLINGS)
               
               
          Position as  at Position as  at
          30th June 2002 31st March 2002
               
A ASSETS            
1 Cash        
 7,948
8,319
2 Balances with Bank of Tanzania    
32,583
40,327
3 Balances with other banks    
 98,574
109,897
4 Cheques in the course of collection    
13,150
7,796
5 Investment in Government securities    
109,445
99,110
6 Investment in other securities    
 5,000
-  
7 Loans, Advances, Overdraft Bills     
 67,945
 75,080
   (Net of allowances for Probable Losses)  
 -  
 -  
8 Bills negotiated      
922
 384
9 Equity Investments      
-  
 -  
10 Customer liabilities on acceptances    
-  
-  
11 Fixed assets (less depreciation)    
 16,233
 16,606
12 Interbranch Suspense (Net)    
11,572
12,537
13 Other assets      
12,233
 4,420
           
  TOTAL ASSETS      
375,605
 374,476
           
B LIABILITIES      
           
1 Customer deposits      
 301,460
299,759
2 Deposits From Other Banks    
 275
-  
3 Cash Letters of Credit and Guarantees    
3,498
 2,314
4 Bills Payable      
7,681
 3,369
5 Bankers' Cheques & Drafts Issued    
8,273
9,972
6 Accrued Taxes and expenses payable  
 4,990
3,235
7 Acceptances Outstanding    
 -  
-  
8 Interbranch Suspense (Net)    
 -  
 -  
9 Proposed Dividend      
 -  
-  
10 Deferred  Tax      
1,614
 982
11 Other Liabilities      
15,302
 25,106
           
TOTAL LIABILITIES    
343,093
344,737
   
   
NET ASSETS/(LIABILITIES)    
32,512
29,739
   
C CAPITAL AND RESERVES    
           
1 Paid-Up Share Capital      
12,000
12,000
2 Recapitalisation Reserves    
24,392
24,392
3 Retained Earnings      
(9,317)
(9,317)
4 Profit/(Loss)      
5,437
2,664
5 Others        
  -  
-  
           
  TOTAL SHAREHOLDERS' FUNDS
32,512
29,739
 
  TOTAL LIABILITIES AND SHAREHOLDERS' FUNDS
375,605
374,476
1 Contingent Liabilities
15,163
14,876
2 Non Performing Loans & Advances
8,672
9,313
3 Allowance For Probable Losses
7,650
7,402
4 Other Non Performing Assets
-  
 -  
D PERFORMANCE INDICATORS
(I) Total Capital to Total Assets
8%
8%
(ii) Non Performing Loans & Advances
11%
11%
to Total Advances
(iii) Gross Loans And Advances to Total Deposits
25%
28%
(iv) Loans and Advances to Total Assets
20%
22%

 

NATIONAL BANK OF COMMERCE LTD
CASH  FLOW  STATEMENTFOR  THE  QUARTER  ENDED  30.06.2002
(AMOUNTS IN MILLION SHILLINGS)
Current quarter Previous quarter
30th  June 2002 31st March 2002
I: Cash flow from operating activities:
          Profit before Taxation
 4,448
 3,614
           Adjustment for non-cash items:
             Depreciation and amortization
(2,424)
 450
             Tax paid
(807)
(804)
             Net change  in money market placements
 4,802
(19,947)
             Net change in loans and advances
 7,135
(7,492)
             Gain/loss on sale of assets
(2)
1
             Net change in deposits
2,886
8,535
             Net change in certificate deposits
  -  
   -  
             Net change in short term negotiable securities
  -  
   -  
             Net change in other assets
(13,547)
7,909
             Net change in other liabilities
 (1,991)
   9,794
             Other-net change in SMR deposits
 7,000
  (1,000)
    Net cash provided (used) by operating activities
  7,499
 1,060
II: Cash flow from investing activities:
             Dividends received
             Purchase of fixed assets
(82)
 (139)
             Proceeds on sale of fixed assets
 7
4
             Acquisition of Government securities
   -  
   (99)
             Proceeds from redemption of Government securities