Page 323 - ACCESS BANK ANNUAL REPORTS_eBook

31 Assets classified as held for sale

During the year, Access Bank Plc obtained a property by taking possession of collateral held as security against a loan. The
value of the collateral repossessed during the year was N9.4bn (2016: Nil). The Group’s policy is to pursue timely realisation
of the collateral in an orderly manner. The Group does not generally use the non-cash collateral for its own operations.
This amount has been presented in Note 7 as unallocated segment in accordance with IFRS 8.

Assets held for sale

Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Balance at 1 January 140,727 179,843 140,727 179,843
Additions 9,369,240 - 9,369,240 -
Disposals (30,000) (39,116) (30,000) (39,116)

Balance at 31 December 2017 9,479,967 140,727 9,479,967 140,727

32 Deposits from financial institutions
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016

Money market deposits 165,366,714 85,020,959 107,484,428 26,209,999
Trade related obligations to foreign banks 284,830,256 82,335,624 168,656,407 68,912,189

450,196,970 167,356,583 276,140,835 95,122,188

33 Deposits from customers
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016

Term deposits 1,172,733,890 925,976,555 1,035,810,196 799,495,575
Demand deposits 860,560,595 984,150,905 691,144,436 853,780,226
Saving deposits 211,584,590 179,069,826 183,819,081 159,767,071

2,244,879,075 2,089,197,286 1,910,773,713 1,813,042,872

34 Other liabilities
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Financial liabilities
Certified and bank cheques 1,614,507 2,430,832 1,537,858 2,018,166
E-banking payables (see (a) below) 14,750,651 3,758,302 14,750,651 3,561,974
Collections account balances (see (b) below) 113,274,691 18,677,355 110,802,951 17,692,904
Due to subsidiaries - - 347,385 714,192
Accruals 841,230 1,294,775 841,230 434,811
Creditors 14,773,251 5,043,127 3,838,501 3,404,703
Customer deposits for foreign exchange (see (c) below) 64,067,288 59,738,350 64,067,288 59,574,436
Agency services 51,446 37,984 51,446 36,140
Unclaimed dividend (see (d) below) 13,888,938 11,957,131 13,888,938 11,957,131
Other financial liabilities 12,524,476 8,179,792 13,837,188 5,893,267
235,786,478 111,117,648 223,963,436 105,287,724

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Annual Report & Accounts 2017