SBN HOLDINGS LIMITED Annual Report 2022
82
22
8.
NOTES TO THE ANNUAL FINANCIAL STATEMENTS continued
Property, equipment and right-of-use assets
Property
Equipment
Furniture
IT
Freehold Leasehold
N$'000
N$'000
equipment
N$'000
Motor
vehicles
N$'000
Office
equipment
N$'000
and
fittings
N$'000
Right-of-use assets
Branches
N$'000
ATM
spacing
and other
N$'000
Buildings
N$'000
Total
N$'000
GROUP
Net book value 1 January 2021
728 900
Cost
749 995
27 661
103 052
Accumulated depreciation
(21 095)
(75 391)
151 484
579 290
(427 806)
3 280
26 203
(22 923)
10 489
39 946
(29 457)
130 730
6 395
24 563
1 083 502
282 149
11 774
62 275
(151 419)
(5 379)
(37 712)
474
(474)
1 855 158
(771 656)
Movements
(28 341)
Additions
1 523
(7232)
4 973
(14 569)
(2541)
12 188
(16 496)
(3 807)
4 023
639
(56136)
43 863
80
2 085
9 794
2 818
19 071
912
85 119
Modifications
Impairments
(117)
7 469
(172)
7 180
Disposals/terminations
Transfers
Depreciation
(13 938)
(1961)
118
(11)
(9)
(923)
(24)
(109)
(4432)
(5 499)
(46)
(15 926)
(10 362)
(58 412)
(1698)
13 922
(3 795)
(102)
(26 142)
(6 399)
(2016)
(18 085)
(101)
(140 920)
Net book value 31 December 2021
700 559
20 429
136 915
739
Cost
737 556
Accumulated depreciation
(36 997)
45 329
(24 900)
620 167
(483 252)
22 917
(22 178)
22 677
55 834
(33 157)
114 234
291 589
2 588
28 586
639
1 027 366
12 214
63 446
1 074
1 850 126
(177 355)
(9 626)
(34 860)
(435)
(822 760)
Movements
(16 400)
(8 290)
(25 018)
3 441
(2 270)
(21 460)
(1 742)
(3 514)
(349)
(75 602)
Additions
1 219
4 236
34 672
4 423
2 229
3 417
10 574
60 770
Modifications
Impairments
2 863
Disposals/terminations
(1528)
(17)
(74)
2 863
(1619)
Transfers
(1 766)
545
(8)
(1)
(1 775)
Depreciation
(16 091)
(12 526)
(58 452)
(545)
(437)
583
(5 008)
(583)
(24 286)
(1 742)
(16 951)
(348)
(135 841)
Net book value 31 December 2022
684 159
Cost
Accumulated depreciation
736 951
(52 792)
12 139
49 566
(37 427)
111 897
4 180
20 407
92 774
846
25 072
290
951 764
376 233
(264 336)
24 636
(20 456)
55 177
(34 770)
291 016
1 689
52 685
1 074
(198 242)
(843)
(27 613)
(784)
1 589 027
(637 263)
Right-of-use assets and corresponding liabilities are recognised for all rental contracts that meet the definition of a lease
contract. The company leases various offices, branch spaces, parking and ATM space. Lease terms are negotiated on an
individual basis and contain a wide range of different terms and conditions. Rental contracts are typically made for fixed
periods of two to ten years but may have extension periods. Each right-of-use of asset is recognised over the lease term.
Refer to note 16 for the disclosure of lease liabilities.
SBN HOLDINGS LIMITED
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