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4.3 (b)   Fair value of financial assets and liabilities not carried at fair value
                      The fair value for financial assets and liabilities that are not carried at fair value were determined respectively as
                      f  o  l  l  o  w  s  :

                      (i)     Cash
                              The carrying amount of Cash and balances with banks is a reasonable approximation of fair value.

                      (ii)    Loans and advances to banks and customers
                             Loans and advances are net of charges for impairment. The estimated fair value of loans and advances
                             represents the discounted amount of estimated future cash flows expected to be received. Expected
                             cash flows are discounted at current market rates to determine fair value.

                      (iii)   Investment securities and pledges assets
                             The fair value for investment securities is based on market prices from financial market dealer price
                             quotations. Where this information is not available, fair value is estimated using quoted market prices
                             for securities with similar credit, maturity and yield characteristics.

                             The fairvalue disclosed in thetable above comprises equity securities held at cost less impairment
                             and debt instruments. The fair value for these assets is based on estimations using market prices and
                             earning multiples of quoted securities with similar characteristics.

                      (iv)    Other assets
                             The bulk of these financial assets have short maturities with their amounts of financial assets in is
                             a reasonable approximation of fair value.

                      (v)     Deposits from banks and customers
                             The estimated fair value of deposits with no stated maturity, which includes non-interest bearing de-
                             posits, is the amount repayable on demand. The estimated fair value of fixed interest-bearing deposits
                             not quoted in an active market is based on discounted cash flows using interest rates for new debts
                             with similar remaining maturity.

                      (vi)    Other liabilities
                             The carrying amount of financial liabilities in other liabilities is a reasonable approximation of fair value.
                             They  comprise of short term liabilities which are available on demand to creditors with no contractual
                             rates attached to them.

                      (vii)   Interest bearing borrowings
                             The estimated fair value of fixed interest-bearing borrowings not quoted in an active market is based
                             on the market rates for similar instruments for these debts over their remaining maturity.































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              Annual Report & Accounts  2017
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