Page 303 - ACCESS BANK ANNUAL REPORTS_eBook

Derivative financial instruments consist of forward,swap and future contracts. These are held for day to day cash man-
agement rather than for trading purposes and are held at fair value. The contracts have intended settlement dates of
between 30 days and two years. All derivative contracts are considered to be valued with reference to data obtained from
the Financial Market Dealer Quotation (FMDQ).

Included in other liabilities are security deposit for Swap and future deals which are deposits (collaterised deposits) by
counter parties.

The movement in fair value is as a result of a depreciation of the functional currency of the group (Naira) within the year
and a decrease in the volume of transactions.

22 Loans and advances to banks
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Loans and advances to banks 68,155,581 45,226,388 101,470,507 104,029,960
Less collective allowances for impairment (41,506) (23,386) (41,506) (23,386)
68,114,076 45,203,002 101,429,001 104,006,574

Collective allowances for impairment on loans and advances to banks
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016

Balance beginning of year 23,386 9,086 23,386 9,086
- Charge for the year 18,120 14,300 18,120 14,300
Balance end of year 41,506 23,386 41,506 23,386

23 Loans and advances to customers
a Group
Specific Collective Total
December 2017 impairment impairment Carrying
In thousands of Naira Gross impairment
amount allowance allowance allowance amount
Loans to individuals
Retail Exposures
Auto Loan (note 23c) 1,878,145 - (28,513) (28,513) 1,849,632
Credit Card 3,019,121 (4,573) (49,438) (54,011) 2,965,110
Finance Lease (note 23c) 1,226,099 (5,475) (2,528) (8,003) 1,218,096
Mortgage Loan 33,118,619 - (78,340) (78,340) 33,040,279
Overdraft 2,494,735 (138,278) (181,960) (320,238) 2,174,497
Personal Loan 17,615,988 (224,442) (253,600) (478,042) 17,137,946
Term Loan 7,175,548 (40,237) (68,982) (109,219) 7,066,329
Time Loan 902,195 - (17,426) (17,426) 884,769

Loans to corporate entities and other organizations

Non-Retail Exposures
Auto Loan (note 23c) 1,620,583 - (20,156) (20,156) 1,600,427
Credit Card 453,502 (1,036) (6,654) (7,690) 445,812
Finance Lease (note 23c) 3,620,889 (142,940) (53,943) (196,883) 3,424,006
Mortgage Loan 10,584,856 - (2,199) (2,199) 10,582,657
Overdraft 199,670,621 (11,268,914) (5,686,787) (16,955,701) 182,714,920
Term Loan 1,269,478,525 (23,972,545) (13,331,658) (37,304,203) 1,232,174,322
Time Loan 506,996,016 (5,987,074) (2,300,118) (8,287,191) 498,708,825
2,059,855,443 (41,785,514) (22,082,302) (63,867,816) 1,995,987,627

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Annual Report & Accounts 2017