ROYAL EXCHANGE : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Consolidated Statements of Financial Position

-

(0)

0

(3)

At 30 June 2023

Unaudited

Audited

Unaudited

Audited

Group

Group

Company

Company

In thousands of Naira

Note

30-Jun-23

31-Dec-22

30-Jun-23

31-Dec-22

ASSETS

783,663

608,573

126,615

127,890

Cash and cash equivalents

5

Loans and advances to customers

6

1,021,278

1,140,139

-

-

Advances under finance lease

87,913

68,431

-

-

Investment securities:

47,132

30,820

Measured at Fair Value Through Profit or Loss (FVPL)

8(a)

26,589

17,440

Measured at Fair Value Through Profit or Loss (FVOCI)

8(b)

-

-

-

-

Amortized Cost

8(c)

-

-

-

-

Investment in subsidiaries

9

-

-

509,389

509,389

Assets classified as held for sale

9(b)

-

-

-

-

Trade receivables

10

-

-

-

-

Reinsurance assets

11

-

-

-

-

Deferred acqusition cost

12

-

-

-

-

Other receivables and prepayments

13

130,714

163,342

97,818

105,361

Investment in associates

14

5,334,258

5,080,554

5,334,257

5,080,554

Investment properties

15

-

-

-

-

Property and equipment

17

14,923

17,440

1,778

1,493

Right of Use Asset

17(b)

-

942

0

942

Intangible assets

18

-

-

-

-

Employees retirement benefit asset (Net)

19

-

-

-

-

Statutory deposits

20

-

-

-

-

Deferred tax assets

21

-

-

-

-

Investment Properties classified as held for sale

16

-

-

-

-

Deposit for shares

14(c )

39,000

39,000

39,000

39,000

Total assets

7,458,880

7,149,241

6,135,446

5,882,069

LIABILITIES

1,950,288

544,777

665,457

544,777

Borrowings

29

Deferred Income

22

-

-

-

-

Trade payables

23

-

-

-

-

Other liabilities

24

2,940,757

3,037,411

2,946,300

2,996,833

Depositors' funds

25

-

1,226,428

-

-

Insurance contract Liabilities

26

-

-

-

-

Investment contract Liabilities

27

-

-

-

-

Finance Lease Obligation

29

168

168

14,436

13,699

Current income tax liabilities

28(b)

249,339

234,702

245,775

232,594

Employees benefit liability

19(a)

4,515

974

974

974

Deferred tax liabilities

21

-

-

-

-

Deposit for Shares

1,985

-

-

-

Total liabilities

5,147,052

5,044,460

3,872,942

3,788,877

EQUITY

2,572,685

2,572,685

2,572,685

2,572,685

Share capital

30

Share premium

31

2,690,936

2,690,936

2,690,936

2,690,936

Contingency reserve

32

-

-

-

-

Treasury shares

33

-

-

-

-

Retained earnings

34

(3,404,968)

(3,612,013)

(2,955,595)

(3,124,904)

Other component of equity

35( c )

453,173

453,173

(45,524)

(45,524)

Capital and reserves attributable to owners

2,311,826

2,104,781

2,262,503

2,093,193

Non-controlling interests

35( d )

-

-

-

-

Total Equity

2,311,826

2,104,781

2,262,503

2,093,193

Total equity & liabilities

7,458,880

7,149,241

6,135,445

5,882,071

Kenneth Odogwu

Anthony Ogunade

Chairman

for: Ag. Chief Financial Officer

(FRC/2013/NBA/00000004195)

(FRC/2023/PRO/ICAN/001/580489)