Standard Chartered Bank Zambia : Quarterly Financial Statement 31 March 2024

QUARTERLY FINANCIAL STATEMENTS

Published in accordance with section 92(1) of the Banking and Financial Services Act, 2017

Take note that the financial statements on a month-on-month basis are available on request at every branch of our bank

BALANCE SHEET	as at 31 Mar 2024		INCOME STATEMENT	as at 31 Mar 2024	Year to date
		ZMW'000
ASSETS				Interest income from:	ZMW'000 ZMW'000	ZMW'000 ZMW'000
Notes and coins		610,837		Loans and overdrafts	118,725				118,725
				Banks and financial
Balances with Bank of Zambia		3,772,448		institutions	76,307				76,307
		Securities	46,899				46,899
Balances with banks and other
financial institutions in Zambia		-		Other	10,416				10,416
Balances with banks and other
financial institutions abroad		8,690,303		Total interest income	252,347		252,347
Investments in securities		1,504,614		Interest expense
Loans and advances (net of				Deposits	(8,994)				(8,994)
capitalised interest on non-				Paid to banks and financial
performing loans and allowances for	2,715,754		institutions	(7,868)				(7,868)
loan losses)			Subordinated debt	2,538				2,538
Bills of exchange		-
		Other	(3,060)				(3,060)
Interbranch		-
Fixed Assets		82,272		Total interest expense	(17,384)		(17,384)
Other assets		682,002
		-		Net interest income	234,963		234,963
Total Assets		18,058,230
LIABILITIES				Provision for loan losses	6,266		6,266
			Other Provisions	(70,749)		(70,749)
Deposits		15,166,203		Net interest income after
Balances due to Bank of Zambia	176,133
	provision for loan losses	170,480		170,480
Balances to banks and other
financial institutions in Zambia		69		Non-interest income
Balances due to banks and other			Commissions fees and service
financial institutions abroad		685,266
		charges	39,538				39,538
Bills of exchange		-
		Foreign Exchange
Interbranch		-
		Fees from foreign exchange
Other liabilities		518,171		transactions	25,620				25,620
Other borrowed funds		99,200		Realised trading gains (losses)	45,869				45,869
Shareholders' equity		1,413,188		Unrealised gains (losses) from
Total liabilities and shareholders'			foreign exchange holdings	28,288				28,288
18,058,230		Other	20,488				20,488
equity
Off balance sheet items				Total non-interest income	159,803		159,803
Contingent liabilities		544,093		Net interest and other income	330,283		330,284
Guarantees		539,393
Letters of Credit		4,700		Non-interest expenses
Allowances for losses on				Depreciation	(15,516)				(15,516)
acceptances and off balance sheet			Other	(201,395)				(201,395)
items included in other liabilities	193
Other		472,119		Total non-interest expenses	(216,911)		(216,911)
		1,016,405
			Income (losses) before taxes
				and extraordinary items	113,372		113,373
				Taxation	(34,012)		(34,012)
				Income (losses) after taxes
				but before extraordinary
				items		79,360			79,360
				Extraordinary items	-		-
				Net income (loss)	79,360		79,360

STATEMENT OF CAPITAL POSITION	as at 31 Mar 2024
I PRIMARY (TIER 1) CAPITAL		ZMW'000
	(a) Paid-up common shares		416,745
	(b) Eligible preferred shares		-
	(c) Contributed surplus		62,312
	(d) Retained earnings		994,599
	(e) General reserves		-
	(f) Statutory reserves		12,285
	(g) Minority interests (common shareholders' equity)	-
	(h) Sub-total		1,485,941
	LESS:
	(i) Goodwill and other intangible assets		59,636
	(j) Investments in unconsolidated subsidiaries and associates	-
	(k) Lending of a capital nature to subsidiaries and associates	-
	(l) Holding of other banks' or financial institutions' capital
	instruments		-
	(m) Assets pledged to secure liabilities		-
	(n) Net unrealized gains (losses) on available-for-sale securities	72,753
	Sub-total (A) (items i to m)
		132,389
	OTHER ADJUSTMENTS:
	Provisions		-
	Assets of little or no realizable value		-
	Other adjustments (Prepayments)		-
	(n) Sub-total (B) - (Sub-total A above + Other adjustments)	132,389
	(o) Total primary capital (h - n)		1,353,552
II SECONDARY (TIER 2) CAPITAL
	(a) Eligible preferred shares (Regulations 13 and 17)	-
	(b) Eligible subordinated term debt (Regulation 17 (b))	19,840
	(c) Eligible loan stock / capital (Regulation 17(b))	-
	(d) Revaluation reserves (Regulation 17 (a)). Maximum is 40% of
	revaluation res.		-
	(e) Other (Regulation (17 (c)). Specify		-
	(f) Total secondary capital		19,840
III	ELIGIBLE SECONDARY CAPITAL
	(the maximum amount of secondary capital is limited to 100% of	19,840
	primary capital)
IV	ELIGIBLE TOTAL CAPITAL (I(o) + III)	(Regulatory capital)	1,373,392
V MINIMUM TOTAL CAPITAL REQUIREMENT:
	(Higher of K520m or 10% of total on and off balance sheet	597,258
	risk-weighted assets as established in the First schedule)
VI	EXCESS (DEFICIENCY) (IV minus V)		776,134
	RISK-WEIGHTED ASSETS		5,972,580

STATEMENT OF LIQUIDITY POSITION	as at 31 Mar 2024
I LIABILITIES TO THE PUBLIC		ZMW'000
1. Demand deposits		13,071,883
2. Savings deposits		1,749,131
3. Time deposits		345,189
4. Bills payable		-
Total Deposit Liabilities and bills payable		15,166,203
II TOTAL DEPOSIT LIABILITIES AND BILLS PAYABLE
AT THE END OF THE PREVIOUS QUARTER		12,983,130
III LIQUID ASSETS
1. Gold coins and bullion
2. Notes & coins which are legal tender in Zambia	610,837
3. Balances at Bank of Zambia
(a) Current account		-
(b) Statutory deposits account		3,772,448
(c) OMO deposits		-
(d) Other balances		-

4. Treasury bills issued by the Government of the Republic of Zambia (including those held held as

	collateral for the Clearing House)	956,741
5.	Money at call with any other bank	-
6.	Bills of exchange and promisory notes eligible
	for discount at Bank of Zambia	-

7. Local registered securities which are issued or guaranteed by Government of the Republic of Zambia and which have a final maturity date of not more than six years (at book value) and such other securities as the Minister may have

approved

416

8. Items in transit between banks, between branches of bank and between branches and

head office of bank	-
Total liquid assets
5,340,442

IV RATIOS

1. Liquid assets (items 2, 3(a), 3(c)and 4) as a per centage of total deposit liabilities and bills

payable	10.34%
2. Total liquid assets as a per centage total deposit
liabilities and bills payable	35.21%

3. Total liquid assets as a per centage total deposit liabilities and bills payable at the end of the

previous quarter

43.97%

Sonny Zulu	Kelvin Bwalya
Chief Executive Officer	Chief Financial Officer