Page 142 - 2021 ANNUAL REPORT draft

31st
December
2021

Lease
Payments 13,768 21,360 4,088 24,275 2,521 6,576 8,894 81,482
Net Present
594
Value 8,156 11,096 1,521 7,434 1,124 30,890 60,816

31st
December
2020
Lease

Payments 152 28,167 7,112 9,081 19,282 8,946 25,723 98,462
Net Present

Value 96 15,956 3,356 3,119 5,813 1,681 25,349 55,370

31-Dec-21 31-Dec-20

Current 8,156 96
Non-Current 52,659 55,274

Total 60,815 55,370

28. Other Components of Equity

Statutory reserve

Gambian banking regulations require the Bank to make an annual appropriation to a statutory reserve. As
stipulated in Section.19 of the Banking Act of 2009, the Central Bank of Gambia prescribes the minimum
amount to be transferred to the reserve account where the reserve account is less than/excess of the paidup
capital. Accordingly, the Bank appropriated D49, 906,000 representing 15% of its Profit after tax to statutory
reserve for the year ended (2020: D56, 469,000).

Fair value reserve

The fair value reserve includes the net cumulative change in the fair value of FV through OCI investments
until the investments are derecognized or impaired. A total fair value loss of D21, 453,000 was recognized on
st
treasury bills in 2021 and the closing balance as at 31 December 2021 is nil.

Credit risk reserve

The credit risk reserve represents the difference between the allowance for impairment according to IFRS
and The Central Bank of Gambia guidelines. A total of D4, 787,000 was transferred from the Credit Risk

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Guaranty Trust Bank (Gambia) Limited Financial Statements December 2021