Page 96 - GTBank Annual Report 2020 eBook

Allowance for impairment
31-Dec-20 31-Dec-19
D'000 D'000
Balance at the beginning of the year 28,565 7,223
IFRS 9 impact - -

Impairment loss for the year
Charge for the year 4,905 19,645
Impairment of Contingents 263 1,407
Recoveries (23,840) (1,016)
Write offs - 1,306
Balance at the end of the year 9,893 28,565

27 (a). Other liabilities

In thousands of Gambian Dalasi Dec.-2020 Dec.-2019
Liability for defined contribution obligations - -
Deferred income on financial guarantee contracts - -
Creditors and accruals 19,123 23,994
Other Deposits – LC’s / BC’s 269,762 26,471
Other Deposits – Cash Shipment 2,457 5,527
Accrued Expenses 21,970 23,993
FX outflow suspense - 69,887
Sundry Expenses 29,652 11,059
MoneyGram money transfer 3,905 2,042
Deposit for new accounts 236 1,363
Output VAT 1,344 1,214
Other current liabilities - -
348,449 165,550

Current 348,449 165,550
Non-current - -

27(b). Lease obligation

In thousands of Gambian Dalasi Dec.-2020 Dec.-2019

As at 1st January 2020 58,623 104,214
Additions - -
Accretion of interest 5,016 4,705

payments (8,269) (50,296)
As at 31st December 2020 55,370 58,623
The Bank had total cash outflows for leases of D8, 269 in 2020.

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The undiscounted maturity analysis of lease liabilities at 31 December 2020 is as follows:
The maturity analysis of lease liabilities are disclosed below. Annual Report 2020

Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 94