Page 102 - RFHL ANNUAL REPORT 2025 ONLINE_NEW

100 • Republic Financial Holdings Limited 2025 Annual Report • FINANCIALS

Table of Contents

Statement of management responsibilities 101 z Customers’ liabilities under acceptances,
guarantees, indemnities and
Independent auditor’s report 102 letters of credit 144
Consolidated statement of financial position 110 aa Equity reserves 144
Consolidated statement of income 112 ab Hyperinflation 144

Consolidated statement of comprehensive income 113 ac Comparative information 144
Consolidated statement of changes in equity 114 3 Significant accounting judgements,
estimates and assumptions in applying
Consolidated statement of cash flows 115 the Group’s accounting policies 144
Notes to the consolidated financial statements 117 4 Advances 147
1 Corporate information 117 5 Investment securities 151
2 Material accounting policies 117 6 Investment in associated companies 153

2.1 Basis of preparation 117 7 Premises and equipment 153
2.2 Basis of consolidation 117 8 Right-of-use assets and lease liabilities 155
2.3 Changes in accounting policies 118 9 Intangible assets 157
2.4 Standards in issue not yet effective 120 10 Employee benefits 159
2.5 Improvements to IFRS standards 123
11 Deferred tax assets and liabilities 164
2.6 Summary of material accounting policies 124
12 Other assets 166
a Cash and cash equivalents 124
13 Customers’ current, savings and
b Statutory deposits with central banks 124 deposit accounts 166
c Financial instruments – initial 14 Other fund raising instruments 166
recognition 124
15 Debt securities in issue 167
d Financial assets and liabilities 125
16 Other liabilities 167
e Reclassification of financial assets
and liabilities 127 17 Stated capital 168
f Derecognition of financial assets 18 Other reserves 168
and liabilities 127
19 Operating profit 169
g Impairment of financial assets 128
20 Credit loss expense/(recovery) 170
h Collateral valuation 132
i Collateral repossessed 133 21 Taxation expense 171
j Write-offs 133 22 Risk management 171
k Investment in associates 133 23 Related parties 186
l Leases 134 24 Capital management 187
m Premises and equipment 135 25 Fair value 188
n Impairment of non-financial assets 135 26 Material partly-owned subsidiaries 191
o Business combinations and goodwill 136 27 Segmental information 192
p Employee benefits 137 28 Maturity analysis of assets and liabilities 197
q Taxation 138 29 Equity compensation benefits 198
r Statutory reserves 138
30 Dividends paid and proposed 200
s Fiduciary assets 139
31 Contingent liabilities 200
t Earnings per share 139
32 Structured entities 201
u Foreign currency translation 139
33 Subsidiary companies 202
v Intangible assets 140
34 Business combinations 202
w Revenue recognition 140
35 Events after the reporting period 202
x Fair value 142
y Segment reporting 143