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Diamond trust bank kenya forex rates

diamond trust bank kenya forex rates

Cash and balances with BoT Deposits and balances due from banking institutions 24 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued) 4 Financial risk management (continued) d Liquidity risk management. The majority of these facilities are offset by corresponding obligations of third parties. The risks that the bank takes are reasonable, controlled, within its financial resources and credit competence. Kenya ShillingUganda ShillingTanzania Shilling, related Accounts, current Account. Foreign exchange forward contracts are agreements to buy or sell a specified quantity of foreign currency, usually on a specified future date at an agreed rate. K-Rep Bank Ltd. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term highly liquid investments with maturities of three months or less from the date of aquisition, including, cash and balance with Bank. The net profit for the year of Shs 4,903 million (2009: Shs 3,744 million) has been added winklevoss bitcoin trust etf coin to retained earnings.

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The resulting foreign exchange gains and losses from the settlement of such transactions and from year-end translation are recognised on a net basis in the profit and loss account in the year in which they arise. As the bank continues to scale up its operations, it ensures that the resultant commercial and operational risk are mitigated through the enforcement of appropriate policies and procedures governing various aspects of its commercial activities and operations. The table below summarises the bank's exposure to interest rate risks. The rates used are as follows:- Property and equipment are periodically reviewed for impairment. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. Financial assets at amortised costs A provision for identified loan impairment is established if there is objective evidence that the bank will not be able to collect all amounts due according to the contractual terms of loans.

diamond trust bank kenya forex rates

Salient features of the bank's risk approval process are delineated below: - - All business units must apply consistent standards in arriving at their credit decisions. All financial assets are recognised initially using the trade date accounting which is the date the company becomes a party to the contractual provision of the asset with the exception of loans and receivables which are recognised on the day they are originated. Wema Bank Exchange Rate Today, wema Bank Exchange Rate Today Dollar to Naira N379. IAS 1, Presentation of financial statements. Income tax expense Current income tax - current year 2,304,648 1,667,842 - prior year 57,053 (1,560) Deferred income tax (Note 20) - current year (176,456) (56,821) - prior year (14,497) - Income tax expense 2,170,748 1,609,461 Profit before income. Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 statement OF changes IN equity FOR THE year ended 31 december 2010 Share Share Revaluation Regulatory Retained Proposed Note capital premium surplus reserve earnings dividends Total Shs'000 Shs'000 Shs'000.

Upload scanned copy OF ID/passport yOUR date OF birth DD/MM/YY) *Mandatory Field, now tell us about yourself. For purposes of the cash flow statement, cash and cash equivalents comprise balances with less than 90 days maturity from the date of acquisition, including: cash and balances with Bank of Tanzania, treasury bills and amounts due from other banks. Summary of significant accounting policies (continued) r) Proposed dividends s) Forward foreign exchange contracts t) Acceptances, guarantees and letters of credits u) Comparatives. The bank manages its capital to meet Bank of Tanzania requirements listed below: (a) hold the minimum level or regulatory capital of Shs 5 billion; (b) maintain core capital of not less than 10 of total deposit liabilities;. Middle East Bank (K) Ltd. Release of provision no longer Net increase in provision Loans written off through the profit and loss account 31 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued) 18 Property and equipment Leasehold Leasehold Motor. Other assets Shs'000 Shs'000 Prepaid opersting lease rentals (Note 22) 284,082 171,350 Other prepayments and deposits 511,681 376,613 Other receivables 442,232 726,543 1,237,995 1,274,506. As required by the Tanzanian Companies Act 2002 we report to you, based on our audit, that: we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the. Where the carrying amount of an asset is greater than its estimated recoverable amount, it is written down immediately to its recoverable amount. The following new standards, amendments to existing standards and interpretations have been issued and are mandatory for the Bank's accounting periods beginning on or after The bank did not early-adopt any new or amended standards in 2010. Financial risk management (continued) a) Credit risk management (continued) Settlement risk b) Concentration of risk Economic sector risk concentrations within the customer loan and deposit portfolios were as follows: At 31 December 2010 Shs '000 Shs '000 Shs '000 Manufacturing. Costs associated with maintaining computer software programmes are recognised as an expense as incurred.

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29 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued). The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial diamond trust bank kenya forex rates statements, whether due to fraud or error. Mosque/Jamat Street PO Box 115 Dar es Salaam Independent auditor RSM Ashvir Certified Public Accountants PO Box 79586 Dar es Salaam Principal correspondents Nairobi Diamond Trust Bank Kenya Ltd London Standard Charted Bank PLC New York hsbc Habib bank. Diamond Bank Exchange Rate Today, diamond Bank Exchange Rate Today Dollar to Naira N375. An acceptance is an undertaking by a company to pay a bill of exchange drawn on a customer. Interest income earned on advances to companies controlled by directors and employees amounted to Shs.76,361,000 (2009:132,427,000). 36 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued). Family Bank Ltd.

The calculation includes all fees paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts. Housing Finance Ltd. Sambili (20012004) 3 Thomas Nzioki Kibua (19932001) 4 Wanjohi Muriithi (19911993) 5 Eliphaz Riungu (19881991) Eric Cheruiyot Kotut(19841988) 6 Ahmed Abdallah (19671984) 7 8 Members of the Board edit diamond trust bank kenya forex rates The composition of the current board of directors. Subsequent recoveries are credited to the provision for loan losses in the profit and loss account. The effective interest method is a method of calculating the amortised cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. Included in the table are the bank's financial instruments, categorised by currency. 13, diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued).

Financial risk management (continued) c) Market risk management (i) Interest rate risk Up to Non interest 1 month months months years bearing Total At 31 December 2010 Shs '000 Shs '000 Shs '000 Shs '000 Shs '000' Shs '000 Financial assets. Interest income includes coupons earned on Treasury bonds and accrued discounts on Treasury bills. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Dubai Bank Kenya Ltd. Leases of assets where a significant proportion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. The Bank's Head Office is located.

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Loans and advances to customers Gross loans and advances 149,603,084 120,513,587 Less: Provision for impairment of loans and advances Identified impairment (734,718) (76,688) Unidentified impairment (743,464) (300,997) Net loans and advances 148,124,902 120,135,902 Expected to be recovered: Within 1 year. Where impairment losses required by the regulators exceed those computed under ifrs, the excess is recognised as a statutory loan loss reserve and is accounted for as an appropriation of retained earnings. Critical accounting estimate and judgement in applying in accounting policies (i) Impairment losses on loans and advances (ii) Held-to-maturity investments (iii) Income taxes This follows the guidance of IAS 39 on classifying non-derivative financial assets with fixed or determinable payments and fixed maturity as held-to-maturity. These policies have been consistently applied to all periods presented, unless otherwise stated. Other income Shs '000 Shs '000 Gain on disposal of property and equipment 676 16,358 Cash overs 2,379 - Other income 256,709 74,453 259,764 90,811. Loans and receivables which comprise non-derivative financial assets with fixed or determinable payments that diamond trust bank kenya forex rates are not"d in an active market, and excludes assets which the entity intends to sell immediately or in the near term or those which the. Income and expenses, are recognised in the profit and loss account. The bank carries a limited amount of market risk. Financial liabilities are derecognised when extinguished. The directors are responsible for the preparation of financial statements that give a true and fair view in accordance with International Financial Reporting Standards and the requirements of the Tanzanian Companies Act 2002, and for such internal control as the.

From Wikipedia, the free encyclopedia, jump to navigation, jump to search. There were no potentially dilutive shares outstanding at 31 December 2010 and 31 December 2009. Development Bank of Kenya Ltd. 911 million (2009: Shs. Giro Commercial Bank Ltd. Orco is charged with ensuring that the bank has adequate internal policies and procedures, technology, business continuity, and ensuring that the appropriate knowledge, skills, resources and expertise are available within the bank to enable the staff to meet the risk management.

These exposures will normally be maintained largely within approved product programs and with no signs of impairment or distress. The company is related to other companies which are related through common shareholding or common directorships. Operating expenses Operating expenses include: Staff costs (Note 10) 5,481,295 3,997,487 Depreciation (Note 18) 1,124,295 716,211 Amortisation of intangible assets - software (Note 19) 144,454 291,095 Operating lease rentals 770,480 555,708 Auditors remuneration 33,216 30,574. In this respect, the bank will soon launch online banking, mobile banking and cash management services aimed at its primary market.e. Diamond Trust Bank Tanzania Limited Directors' Report (continued) For the year ended 31 December 2010 Capital structure Commercial and operational risks Financial risk management objectives and policies Corporate governance Borrowings/Liquidity Employee's welfare Related party transactions Disabled persons Donations. All other property and equipment are stated at historical cost less depreciation and accumulated impairment losses. Equity Bank Ltd. At Board level and through its sub - committee, balco reviews the strategy adopted by alco and provides direction on a periodic basis.

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Such commitments are normally made for a fixed period. Njuguna Ndung'u (March. Over the medium term, the bank plans to increase its branch network in Tanzania. Risk measurement is currently based on sensitivity analysis and stress testing. GTBank Exchange Rate Today Canadian Dollar to Naira N282. Nigeria banks Exchange rate today May 2017, dollar to naira Exchange rate, Euro to naira Exchange rate and Pounds diamond trust bank kenya forex rates to naira Exchange rate. The bank plans to augment its position in Tanzania as a major retail bank, with a focus on small and medium enterprises (SMEs by continuing to implement the following strategic thrust in 2011 and beyond: The bank's. To improve human resource skills as well as augment employee motivation, the bank provides training to its staff.

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The bank classifies its financial assets into the diamond trust bank kenya forex rates following categories:. Where a sale occur, other than an insignificant amount of held to maturity assets, the entire category would be tainted and classified as available for sale. Fina Bank Ltd. The Board of Directors is responsible for the governance of the bank and is committed to ensure that its business and operations are conducted with integrity and compliance with the law and Internationally accepted principles and best practices of corporate governance and business ethics. Financial assets are assessed for indicators of impairment at the end of each reporting period. 4,639 million (2009: Shs. The preparation of financial statements in conformity with ifrs requires the use of certain critical accounting estimates.

The risk management function is independent of the banks business and operating units. Proceed to create an account,. In making this judgement, the bank evaluates its intention and ability to hold such investments to maturity. The terms of restructuring must be accepted by the borrower and all existing and proposed guarantors. The bank may withdraw from its contractual obligation for the undrawn portion of agreed facilities by giving reasonable notice to the customer. Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. A concentration of credit risk exists when a number of counterparties are engaged in similar diamond trust bank kenya forex rates activities and have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions. Deposits and advances due from banking institutions Cash and balances with Bank of Tanzania 22 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued). Basic earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted average number of shares in issue during the year.

End-of-the-day positions are marked to market daily. 35 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued) 29 Assets Tsh USD GBP Tsh USD GBP Government securities.48 -.97 - - Deposits with banking institutions.69.34. GTBank Exchange Rate Today Euro to Naira N408. During the year, the bank have complied with requirements of Bank of Tanzania. At the forthcoming annual general meeting, dividend in respect of the year ended 31 December 2010 of Shs 35/ per share amounting to Shs 542,732,330 (2009: Shs 25/ per share amounting to Shs 387,665,950 ) is to be proposed. Market and liquidity risks are overseen by the Board Asset and Liability Committee (balco) and managed by a well- represented Asset and Liabilities Committee (alco).

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On initial recognition, all transactions are recorded in the diamond trust bank kenya forex rates functional currency (the currency of the primary economic environment in which the company operates which is Tanzania Shillings. Former Deputy Governors include:. Increase the branch network - The bank plans to open five new branches in various part of the country over the next twelve months. The counter liability is included in amounts due to other banks, deposits from banks or balances due to Bank of Tanzania. The gross amounts of loans and advances that were past due but not impaired were as follows: The disbursement of credit facilities is managed by a centralized Credit Administration Department (CAD reporting to the Risk Management function. Financial risk management (continued) c Market risk management (continued) Up to Non interest 1 month months months years bearing Total At 31 December 2009 Shs '000 Shs '000 Shs '000 Shs '000 Shs '000' Shs '000 Financial assets - 23,289,889 23,289,889. Equatorial Commercial Bank Ltd.

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Kenyan National ID / Kenyan Passport. Costs that are directly associated with the production or procurement of identifiable and diamond trust bank kenya forex rates unique software products controlled by the bank, and that will probably generate economic benefits exceeding costs beyond one year, are recognised as intangible assets. 19K Hapibu Avenue, 7th Street Nyerere Road Kenyatta Road Dodoma Dar es Salaam Mwanza Magomeni arusha tanga Plot. Utility Bill (Where Applicable now tell us about yourself, so things run smoothly, ensure your name matches what's on your. Commercial Banks Mortgage Finance Shareholding Information. Included in the table are the bank's assets and liabilities at carrying amounts, categolized by the earlier of contractual re - pricing or maturity dates. The overall potential impact of the mismatches on the earnings in the short term and economic value of the portfolio in the long - term is being managed within the toralance limits approved by the Board. In subsequent years, the renegotiated terms apply in determining whether the asset is considered to be past due. Amortised cost is the amount at which the financial asset or liability is measured at initial recognition minus principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between the initial amount and.

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The measurement basis applied is the historical cost basis, except where otherwise stated in the accounting policies below. Loans and advances less than 90 days are not considered impaired unless other information is available to indicate the contrary. The analyses of credit risk concentrations presented below are based on the economic sector in which they are engaged. These exposures are categorised as normal accounts in line with Bank diamond trust bank kenya forex rates of Tanzania prudential guidelines. Ecobank Ltd, gulf Africa Bank (K) Ltd, first Community Bank iii) Foreign owned but locally incorporated institutions. At 31 December 2010, deposits by employees amounted to Shs.307,062,600 (2009:185,197,000). Bank of India, citibank.A. Oriental Commercial Bank Ltd. These funds are not available to finance the bank's day to day operations.

Diamond Trust Bank Tanzania Limited Financial statements statement OF cash flows FOR THE year ended 31 december Note Shs '000 Shs '000 Cash flows from operating activities Interest receipts 18,660,513 14,548,274 Interest payments (4,565,986) (4,575,097) Net fees and commission receipts 3,750,916. Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 profit AND loss account FOR THE year ended 31 december Note Shs'000 Shs'000 Interest income 5 18,266,984 15,229,975 Interest expense 6 (5,010,453) (5,327,160) Net interest income 13,256,531. Non performing loans and advances on which provisions for impairment have been recognised amount to Shs. Access Bank Exchange Rate Today, access Bank Exchange Rate Today Dollar to Naira 375. It also requires the board of directors to exercise its judgement in the process of applying the company's accounting policies. Access Bank Exchange Rate Today Pounds to Naira 495. In making those risk assessments, the auditor considers internal controls relevant to the bank's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose. 25 Diamond Trust Bank Tanzania Limited Financial statements For the year ended 31 December 2010 notes (continued) 4 Financial risk management (continued) e) Operational risk management (f) Fair values of financial assets and liabilities (g) Capital management The Bank's. Address proof OF residence: (utility bill branch. The address of its registered office is as disclosed on page. The Statutory Minimum Reserve is non-interest bearing and is based on the value of customer deposits adjusted in accordance with Bank of Tanzania requirements. Fair values and effective interest rates of financial assets and liabilities 2009 The effective interest rates for the principal financial assets and liabilities of the bank at 31 December 2010 and 31 December 2009 were as follows: 2010.