Page 306 - ACCESS BANK ANNUAL REPORTS_eBook

23(c) Advances under finance leases

Loans and advances to customers at amortised cost include the following finance lease receivables for leases of
certain property automobile/ vehicle and equipment where the group is the lessor:

Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Gross investment in finance lease, receivable 10,199,511 10,459,206 8,389,355 10,327,104
Unearned finance income on finance leases (1,853,795) (1,937,583) (1,412,345) (1,890,469)
Net investment in finance leases 8,345,716 8,521,623 6,977,010 8,436,635

Gross investment in finance leases, receivable:
Less than one year 965,517 2,217,863 929,601 2,286,156
Between one and five years 9,013,294 7,976,709 7,319,275 7,782,749
Later than five years 136,735 264,634 140,479 258,199
10,115,546 10,459,206 8,389,355 10,327,104
Unearned finance income on finance leases (1,769,831) (1,937,583) (1,412,345) (1,890,469)

Present value of minimum lease payments 8,345,715 8,521,623 6,977,010 8,436,635

Present value of minimum lease payments may be
analysed as:
- Less than one year 784,328 2,018,383 874,224 2,091,526
- Between one and five years 7,468,946 6,215,439 5,992,296 6,064,306
- Later than five years 92,443 287,801 110,489 280,803

24 Pledged assets
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Treasury bills 258,672,815 188,239,520 252,061,738 188,239,520
Government bonds 188,441,589 126,707,982 188,441,589 126,707,982

The related liability for assets pledged as collateral 447,114,404 314,947,502 440,503,327 314,947,502
include:

Bank of Industry (BOI) 18,309,954 39,566,300 18,309,954 39,566,300

(i) The assets pledged as collateral include assets pledged to third parties under secured borrowing with
the related liability disclosed above. Pledge assets include pledges to counter parties for derivatives of
N374.7bn (31 December2016: N265.3bn). Also included in pledged assets are assets pledged as
collateral or security deposits to clearing house and payment agencies of N36.47bn (31 December
2016: N17.58Bn) for which there is no related liability. The pledges have been made in the normal
course of business of the Bank. In the event of default, the pledgee has the right to realise the pledged
assets.

306 Access BAnk Plc
Annual Report & Accounts 2017