Page 307 - ACCESS BANK ANNUAL REPORTS_eBook

25 Investment securities

Group Group Bank Bank
Available for sale investment securities December December December December
In thousands of Naira 2017 2016 2017 2016

Debt securities
Government bonds 34,112,643 11,738,700 9,319,691 546,733
Treasury bills 29,977,451 69,346,601 9,598,737 40,960,666
Eurobonds 1,572,222 2,760,661 352,100 2,760,661
Corporate bonds 3,744,387 3,431,482 3,744,387 3,431,482
State government bonds 14,650,116 14,961,006 14,650,116 14,961,006
Equity securities
Equity securities with readily determinable fair values (i) 69,581,098 58,667,555 69,181,956 58,420,406
Unquoted equity securities at cost 3,145,697 3,145,697 3,145,697 3,145,697
156,783,614 164,051,703 109,992,684 124,226,651

Specific allowance for impairment on available for sale (3,409,804) (3,389,059) (3,409,804) (3,389,059)
investments
153,373,810 160,662,644 106,582,880 120,837,592

The fair value of the unquoted equity securities carried at cost cannot be reliably estimated as there are no active market
for these financial instruments; they have therefore been disclosed at cost less impairment. These equity investments
have been fully impaired and has a nil balance in the group financial statement.

(i) Equity securities with readily determinable fair values (carrying amount)

MTN Nigeria 8,760,176 7,451,138 8,760,176 7,451,138
Central Securities Clearing System Limited 1,343,868 1,559,612 1,343,868 1,559,612
Nigeria Interbank Settlement System Plc. 3,396,757 1,175,570 3,396,757 1,175,570
Unified Payment Services Limited 3,130,451 2,340,346 3,130,451 2,340,346
Africa Finance Corporation 50,882,911 44,230,177 50,882,911 44,230,177
E-Tranzact 1,147,387 1,147,387 1,147,387 1,147,387
African Export-import Bank 14,984 10,754 14,984 10,754
FMDQ OTC Plc 130,610 130,610 130,610 130,610
Nigerian Mortage Refinance Company Plc. 93,186 93,186 93,186 93,186
Credit Reference company 281,626 281,626 281,626 281,626
Others 399,142 247,149 - -

69,581,098 58,667,555 69,181,956 58,420,406

Held to maturity investment securities
In thousands of Naira

Debt securities
Treasury bills 88,203,365 27,350,114 5,837,568 -
Federal government bonds 30,127,895 31,754,372 2,654,168 31,016,409
State government bonds 3,786,715 5,276,855 3,786,715 5,276,855
Corporate bonds 610,777 1,624,228 610,777 1,624,228
Eurobonds 2,065,195 2,445,558 2,065,195 2,445,558

124,793,947 68,451,128 14,954,423 40,363,050

Total 278,167,757 229,113,772 121,537,303 161,200,642

Access BAnk Plc 307
Annual Report & Accounts 2017