Page 97 - GTBank Annual Report 2020 eBook

Within 1-2 3-4 4-5 5-10 10-25
1 Year Years 2-3 Years Years Years Years Years Total
D'000 D'000 D'000 D'000 D'000 D'000 D'000 D'000
st
31 December
2020

Lease payments 152 28,167 7,112 9,081 19,282 8,946 25,723 98,463
Net Present
Value 96 15,956 3,356 3,119 5,813 1,681 25,349 55,370

31 December
st
2019

Lease payments 3,652 13,919 21,360 4,088 22,057 2,521 34,550 102,147
Net Present
Value 2,744 8,252 11,096 1,521 6,771 594 27,645 58,623

In thousands of Gambian Dalasi 31 Dec 2020 31 Dec 2019
Current 96 3,500
Non-Current 55,274 55,123
Total 55,370 58,623

28. Other Components of Equity

Statutory reserve

Gambian banking regulations require the Bank to make an annual appropriation to a statutory reserve. As
stipulated by S.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
paid-up capital. The bank appropriated D56, 469,000representing 25% of its Profit after tax to statutory
reserve
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 D20, 960,000 was
st
recognized on treasury bills in 2020 and the closing balance as at 31 December 2020 is D21, 453,000.
Credit risk reserve
The credit risk reserve represent the difference between the allowance for impairment according to IFRS
and The Central Bank of Gambia guidelines. A total of D4, 101,000 was transferred from the Credit Risk
Reserve after comparing the IFRS 9 provision to the CBG prudential provision. The closing balance in the
credit risk reserve is D46, 810,000.

Annual Report 2020

Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 95