Page 83 - Ecobank Gambia Annual Report 2020

11.13 Net interest income

2020 As at 31st December 2019

GMD’000 GMD’000
Interest Income
Loans and advances to banks 64,514 55,042
Loans and advances to Customers
CIB 52,886 54,796
Consumer Bank 23,456 24,547
Commercial Bank 1 15,880 57,836
Others
Treasury Bills and other Eligible bills 193,356 1 84,844
Investment Securities 76,429 74,878
Financial Assets held for trading
Others - 88
526,520 452,030
Interest Expense
Deposit from banks 3,773 9,028
Due to Customers
CIB 41,965 46,445
Consumer Bank 20,822 24,363
Commercial Bank
Others 5,855 5,070
Borrowed Funds
Finance cost on Lease Liabilities - -
4,789 6,165
77,205 91,071

*The interest income from Loans and Advances to banks is mainly income from placements made with parent Company
(ETI) (US$9.9m) and other Ecobank

Affiliates like Ecobank Ghana (US$10m), Ecobank Nigeria (US$9.9m), Ecobank Malawi (US$4.4m).

*Interest income on investment securities includes Treasury bills and Government bonds

*The total interest income calculated using the EIR method for financial assets at amortized cost is 526,520 during the
financial year 2020 (2019: 452,030). The total interest expense calculated using the EIR method for financial liabilities
measured at amortized cost is GMD 77,205 (2019: GMD91,071) . This resulted into a net interest Income amounting to
GMD449,315 during the financial year 2020 (2019: 360,959).

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