Page 101 - GTBANK GAMBIA ANNUAL REPORT 2021

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 The fair value reserve includes the net cumulative
change in the fair value of FV through OCI
Statutory reserve investments until the investments are derecognized
or impaired. A total fair value loss of D21, 453,000
was recognized on treasury bills in 2021 and the
Gambian banking regulations require the Bank to st
make an annual appropriation to a statutory closing balance as at 31 December 2021 is nil.
reserve. As stipulated in Section.19 of the Banking
Act of 2009, the Central Bank of Gambia Credit risk reserve
prescribes the minimum amount to be transferred
to the reserve account where the reserve account The credit risk reserve represents the difference
is less than/excess of the paidup capital. between the allowance for impairment according
Accordingly, the Bank appropriated D49, 906,000 to IFRS and The Central Bank of Gambia
representing 15% of its Profit after tax to statutory guidelines. A total of D4, 787,000 was transferred
reserve for the year ended (2020: D56, 469,000). from the Credit Risk Reserve after comparing the
IFRS 9 provision to the CBG prudential provision.
Fair value reserve The closing balance in the credit risk reserve is
D42, 023,000.

Credit risk reserve reconciliation

In thousands of Gambian Dalasi Dec.-2021 Dec.-2020
Provision per prudential guideline 53,740 68,936

Loan impairment per IFRS 58,527 73,037

Opening balance 46,810 50,911

CRR adjustment (4,787) (4,101)

Closing Balance 42,023 46,810

Retained earnings The Bank, in its ordinary course of business, is
presently involved in 3 cases as a plaintiff, 11
Retained earnings are the carried forward recognised cases as defendant and 1 appeal case. The total
income net of expenses plus current year profit amount claimed in the 3 cases instituted by the
attributable to shareholders. Bank is D21, 445,000 whilst a refund of GMD8,
171,252.00 is sought by the Bank in the matter
29. Contingents subject of an appeal. The amount claimed for in
the 11 cases against the Bank is D33, 134,477.00.
Annual Report 2021
Claims and litigation

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