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	NATIONAL BANK OF COMMERCE LTD. BALANCE SHEET AS AT 30.09.2002 (AMOUNT IN MILLION SHILLINGS)




		Position as at	Position as at
		30th September 2002	30th June 2002

A	ASSETS
1	Cash	10,318	7,948
2	Balances with Bank of Tanzania	39,394	32,583
3	Balances with other banks	92,337	98,574
4	Cheques in the course of collection	6,187	13,150
5	Investment in Government securities	114,361	109,445
6	Investment in other securities	5,000	5,000
7	Loans, Advances, Overdraft Bills	77,823	67,945
	(Net of allowances for Probable Losses)	-	-
8	Bills negotiated	435	922
9	Equity Investments	-	-
10	Customer liabilities on acceptances	-	-
11	Fixed assets (less depreciation)	15,074	16,233
12	Interbranch Suspense (Net)	10,222	11,572
13	Other assets	5,596	12,233

	TOTAL ASSETS	376,747	375,605

B	LIABILITIES

1	Customer deposits	304,715	301,460
2	Deposits From Other Banks	3,569	275
3	Cash Letters of Credit and Guarantees	2,357	3,498
4	Bills Payable	8,400	7,681
5	Bankers' Cheques & Drafts Issued	4,077	8,273
6	Accrued Taxes and expenses payable	7,734	4,990
7	Acceptances Outstanding	-	-
8	Interbranch Suspense (Net)	-	-
9	Proposed Dividend	-	-
10	Deferred Tax	1,420	1,614
11	Other Liabilities	9,881	15,302

	TOTAL LIABILITIES	342,153	343,093


	NET ASSETS/(LIABILITIES)	34,594	32,512

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	Others	7,519	5,437

	TOTAL SHAREHOLDERS' FUNDS	34,594	32,512

	TOTAL LIABILITIES AND SHAREHOLDERS' FUNDS	376,747	375,605


1	Contingent Liabilities	15,123	15,163
2	Non Performing Loans & Advances	9,606	8,672
3	Allowance For Probable Losses	8,659	7,650
4	Other Non Performing Assets	-	-

D	PERFORMANCE INDICATORS

(I)	Total Capital to Total Assets	9%	8%
(ii)	Non Performing Loans & Advances	11%	11%
	to Total Advances
(iii)	Gross Loans And Advances to Total Deposits	28%	25%
(iv)	Loans and Advances to Total Assets	23%	20%

NATIONAL BANK OF COMMERCE LTD INCOME STATEMENT FOR THE QUARTER ENDED 30.09.2002 (AMOUNT IN MILLION SHILLINGS)
		Current quarter ending 30.9.2002	Previous quarter ending 30.06.2002	Current year Cumulative 30.9.2002	Previous year Cumulative 30.9.2001
1	Interest Income	4,502	5,000	14,209	15,816

2	Interest Expense	(555)	(616)	(1,861)	(4,364)

3	Net Interest Income	3,947	4,384	12,348	11,452

4	Bad Debts Written Off	(60)	(6)	(191)	(12,611)

5	Provision For Bad & Doubtful Debts	1,486	(115)	2,795	16,571

6	Non Interest Income:	4,873	3,643	12,765	13,064
	6.1 Foreign Exchange Profit/(Loss)	1,884	918	4,222	3,273
	6.2 Commissions And Fees	2,989	2,725	8,543	9,791

7	Non Interest Expense	(5,705)	(3,458)	(15,114)	(14,591)

8	Operating Income/(Loss) Before Tax	4,541	4,448	12,603	13,885
	and Extraordinary Items

9	Extraordinary Gains (Losses)	-	-	-	-

10	Income Tax Provisions	(1,285)	(1,475)	(3,710)	(2,514)

11	Net Income/(Loss) after Income	3,256	2,973	8,893	11,371
	Tax and Extraordinary items

12	Recoveries on behalf of the Government	(1,174)	534	(1,374)	(5,649)
	of Tanzania

14	Profits attributable to shareholders	2,082	3,507	7,519	5,722



	Number Of Employees	785	785	785	906

	PERFORMANCE INDICATORS
	(i) Return on average total assets*	4%	3%	3%	5%
	(ii) Return on ordinary Shareholders' Funds	44%	37%	40%	58%
	(iii)Non interest expense to gross income	61%	40%	56%	51%
	(iv) Net interest margin to average interest earning assets	7%	8%	7%	7%

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

NATIONAL BANK OF COMMERCE LTD CASH FLOW STATEMENT FOR THE QUARTER ENDED 30.09.2002 (AMOUNTS IN MILLION SHILLINGS)
		Current quarter	Previous quarter
		30th September 2002	30th June 2002

I: Cash flow from operating activities:
Profit before Taxation		4,541	4,448
Adjustment for non-cash items:
Depreciation and amortization		1,309	(2,424)
Tax paid		(807)	(807)
Net change in money market placements		-	4,802
Net change in loans and advances		(9,878)	7,135
Gain/loss on sale of assets			(2)
Net change in deposits		2,113	2,886
Net change in certificate deposits		-	-
Net change in short term negotiable securities		-	-
Net change in other assets		14,920	(13,547)
Net change in other liabilities		(6,348)	(1,991)
Other-net change in SMR deposits		(3,500)	7,000

Net cash provided (used) by operating activities		2,350	7,499

II: Cash flow from investing activities:
Dividends received		-	-
Purchase of fixed assets		(115)	(82)
Proceeds on sale of fixed assets		-	7
Acquisition of Government securities		(43,082)	(9,559)
Proceeds from redemption of Government securities		20,491	14,655


Net cash provided (used) by investing		(22,706)	5,021

III: Cash flow from financing activities:
Repayment of long-term debt		-	-
Proceed from issuance of long-term debt		-	-
Proceeds from issue of shares		-	-
Dividend paid to members of the bank		-
Net change in other borrowings		-
Others


Net cash provided (used) by financing activities		-	-

IV: Cash and cash equivalents
Net increase (decrease) in cash and cash equivalents		(20,356)	12,520
Cash and cash equivalent at the beginning of the quarter		156,665	144,145
Cash and cash equivalent at the end of the quarter		136,310	156,665




	Signature		Date


Chief Executive Officer	……………………………..		………………….



Head of Finance