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5.1 Credit risk management

5.1.1 Maximum exposure to credit risk before collateral held or other credit enhancements

Credit risk exposures relating to financial assets are as follows:
Group Group Bank Bank
In thousands of Naira December 2017 December 2016 December 2017 December 2016

Cash and balances with banks
- Current balances with banks outside Nigeria 217,912,989 115,380,195 177,770,685 106,594,205
- Unrestricted balances with central banks 28,837,649 139,954,922 7,976,547 33,160,736
- Restricted balances with central banks 357,173,356 250,831,529 354,986,209 248,547,664
- Money market placements 261,805,783 119,826,012 28,157,562 41,798,197
- Other deposits with central banks 88,214,622 87,896,447 88,214,622 87,896,447
Investment under management 20,257,131 14,871,247 20,257,131 14,871,247
Non pledged trading assets
Treasury bills 37,743,819 34,381,635 33,906,748 34,381,635
Bonds 9,050,894 10,188,597 9,050,894 10,188,597
Derivative financial instruments 93,419,293 156,042,984 92,390,219 155,772,662
Loans and advances to banks 68,114,076 45,203,002 101,429,001 104,006,574
Loans and advances to customers 1,995,987,627 1,809,459,172 1,771,282,738 1,594,562,345
Pledged assets
Treasury bills 258,672,815 188,239,520 252,061,738 188,239,520
Bonds 188,441,589 126,707,982 188,441,589 126,707,982
Investment securities
Available for sale
Treasury bills 29,977,451 69,346,601 9,598,737 40,960,665
Bonds 54,079,368 32,891,849 28,066,294 21,699,880
Held to Maturity
Treasury bills 88,203,365 27,350,114 5,837,568 -
Bonds 36,590,582 41,101,014 9,116,855 40,363,051
Other assets 46,799,196 41,796,068 34,517,514 33,265,072
Total 3,881,231,605 3,311,468,890 3,213,062,650 2,883,016,479

Off balance sheet exposures
Transaction related bonds and guarantees 370,892,995 186,251,718 225,158,636 136,163,848
Guaranteed facilities 171,002,109 99,582,709 81,335,619 85,513,821
Clean line facilities for letters of credit and
other commitments 293,267,039 261,208,243 200,918,665 158,994,793
Future, swap and forward contracts 662,935,746 933,073,893 624,709,693 900,436,358
Total 1,498,097,889 1,480,116,563 1,132,122,613 1,281,108,820

Balances included in Other Assets above are those subject to credit risks. The table above shows a worst-case scenario of
credit risk exposure to the Group as at 31 December 2017 and 31 December 2016, without taking account of any collat-
eral held or other credit enhancements attached.

For on-balance-sheet assets, the exposures set out above are based on net amounts reported in the statements of
financial position for off balance sheet exposure, the future, swap and forward contracts disclosed above are the nominal
values of the contracts

The Directors are confident in their ability to continue to control exposure to credit risk which can result from both its
Loans and Advances portfolio and debt securities.

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