Page 76 - Agib Bank Ltd Annual Report and IFRS Financial statements 2020

23 Trading Assets

These are equity investment held in Trust Bank totaling 558,000 and dividend of D142,200 was
received in 2020. The equity investments are measured at FVOCI using the dividend stream model.
The bank intends to dispose of the shares.

24 Property, plant and equipment

Work in progress Motor vehicle Leasehold Fixtures & Total
Improvements fittings

Cost

Balance at 1 January 2020 5,375 13,412 133,911 43,203 195,901

Additions - 1,500 325 6,176 8,001

Transfer (3,094) - - - (3,094)
Revaluation Gain 4,771 4,771
Disposal - - -
Fully depreciated - - -
Balance at 31 December 2020 2,281 14,912 139,007 49,379 205,579

Depreciation

Balance at 1 January 2020 - (9,233) (46,421) (28,681) (84,335)

Depreciation charge for the year - (2,247) (5,880) (5,654) (13,781)
Disposal - - - -
Fully depreciated - - - -
Balance at 31 December 2020 - (11,480) (52,301) (34,335) (98,116)

Net book value
At 31 December 2020 2,281 3,432 86,706 15,044 107,463

Cost

Balance at 1 January 2019 1,055 10,525 114,595 32,726 158,901

Additions 4,320 2,887 19,316 10,477 37,000

Transfer - - - - -
Disposal - - -
Fully depreciated - - -
Balance at 31 December 2019 5,375 13,412 133,911 43,203 195,901

Depreciation

Balance at 1 January 2019 - (7,092) (39,509) (23,963) (70,564)

Depreciation charge for the year - (2,141) (6,912) (4,718) (13,771)
Disposal - - - -

Fully depreciated - - - -
Balance at 31 December 2019 - (9,233) (46,421) (28,681) (84,335)

Net book value

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Annual Report and IFRS Financial Statements for the year ended 31 December 2020 75