Page 342 - ACCESS BANK ANNUAL REPORTS_eBook

Dividend to shareholders 18,803,180 10% 15,910,384 9%

Retained in business:
For replacement of property and equipment and 13,645,837 7% 11,293,791 7%
intangible assets
Retained profit (including Statutory and regulatory 43,187,672 22% 56,105,662 33%
risk reserves
196,846,635 100% 172,374,740 100%

OTHER NATIONAL DISCLOSURES

Value Added Statement

Bank Bank
In thousands of Naira December 2017 December 2016
% %
Gross earnings 398,161,575 331,000,972

Interest expense
Foreign (5,508,566) (32,402,507)
Local (90,507,289) (48,892,468)
302,145,720 249,705,997

Net impairment (loss) on financial assets (29,465,778) (16,319,192)
Net impairment loss on other financial assets 315,930 (1,321,935)

Bought-in-materials and services
Foreign (1,819,106) (3,859,283)
Local (102,273,451) (82,273,672)
Value added 168,903,315 145,931,915

Distribution of Value Added
To Employees:
Employees costs 41,773,512 25% 42,153,587 29%

To government
Government as taxes 13,804,679 8% 16,553,441 11%

To providers of finance
Interest on borrowings 47,018,452 28% 13,569,723 9%
Dividend to shareholders 18,803,180 11% 15,910,384 11%

Retained in business:
For replacement of property and equipment 11,445,781 7% 9,629,029 7%
For replacement of equipment on lease 1,622,069 1%
Retained profit (including Statutory and regulatory 34,435,642 20% 48,115,751 33%
risk reserves
168,903,315 100% 145,931,915 100%

342 Access BAnk Plc
Annual Report & Accounts 2017