Page 64 - Agib Bank Limited Annual Report 2021

April 2021) for failing to meet the deadline Provision (Nawec Fraud) - This relates
for the Straight Through Process (STP) to a cyber-fraud on one of Nawec’s
for RTGS and ACP/ACH. current account with us totaling D15.50
million dalasis. The case is still under
Cash Shortage (Fraud) – The Branch investigation with the Gambia Police
Manager for Banjul known as CBM was Force.
not balancing up his cash account, rather
accumulating these balances and then The reason for the provision of only
transferring them to two former staffs D13.46 million was because of part
cash accounts which were discovered to recoveries by the police including D2.04
have been created and approved by him. million cash which has been deposited in
The case is currently under investigation an account with the bank and some
by the Gambia Police Force. valuable assets seized including two
vehicles.

14 Income tax expense
2021 2020

Current tax expense (23,659) (17,026)
Deferred tax expense 237 768
- -
Total
(16,258)
(23,422)

15 Income tax asset/(liability) 2021 2020

Brought forward (11,110) 1928
Charge for the year (23,659) (17,026)
Tax paid 17,400 3,988

Current tax (Liability) (17,369) (11,110)

2021 2020
16 Deferred tax expense

Brought forward 2,746 3,514
Movement for the year (237) (768)

Deferred tax liability 2,509 2,746

17 Earnings per share

Basic earnings per share Annual Report and IFRS Financial Statements
The calculation of basic earnings per share at 31 December 2021 was based on the profit
attributable to ordinary shareholders of D63.268million (2020: D42,856 million) and a weighted
average number of ordinary shares outstanding of 25,390,495 (2020: 25,390,495), calculated
as follows:

Agib Bank Annual Report 2021 www.agib.gm 64