Annual Financial Statements 2020

64 ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS CONTINUED 25. Interest expense 29. Other revenue STANDARD BANK NAMIBIA LIMITED Annual financial statements 2020 65 2020 N$'000 2019 N$'000 Interest on current accounts 59 877 62 888 Interest on savings and deposit accounts 91 937 115 876 Interest on lease liabilities 15 848 3 416 Property-related revenue Other non-banking related revenue Dividends on unlisted financial investments Interest on other interest-bearing liabilities 852 383 1 327 464 Total 2020 N$'000 2019 N$'000 (532) 1 167 347 5 058 1 940 3 804 1 755 10 029 Total 1 020 045 1 509 644 Comprising: 30. Other gains on financial instruments Interest expense on items measured at amortised cost 1 020 045 1 509 644 26. Fee and commission revenue 2020 N$'000 2019 N$'000 Fair value gains on debt financial instruments measured at FVTPL - default Total 133 761 133 761 141 649 141 649 2020 N$'000 2019 N$'000 Foreign currency service fees Custody fees Arrangement fees Account transaction fees Card-based commission Electronic banking fees Documentation and administration fees Trustees and executors fees Guarantees commission 312 522 348 754 31. 197 195 89 644 Credit impairment charges 287 176 376 522 21 134 16 059 2020 N$'000 2019 N$'000 95 938 105 824 32 115 30 977 10 079 7 472 18 033 33 524 19 785 16 973 Other Total 12 749 9 183 1 006 726 1 034 932 Net ECL raised and released: 285 069 276 077 Financial investments (note 5) 1 131 708 Loans and advances (note 6.3) 284 391 273 864 Letters of credit, bank acceptances and guarantees (453) 1 505 Recoveries on loans and advances previously written off (31 159) (36 912) Total 253 910 239 165 All fee and commission revenue reported above relates to financial assets or liabilities not carried at fair value through profit or loss for the company. 32. Operating expenses 27. Fee and commission expense 2020 2019 2020 N$'000 2019 N$'000 Account transaction fees Card-based commission Documentation and administration fees Electronic banking fees 13 398 15 354 80 088 68 959 64 998 74 919 18 550 10 759 Other fees 2 545 Total 179 579 169 991 All fee and commission expenses reported above relate to financial assets or liabilities not carried at fair value through profit or loss for the company. 28. Trading revenue 2020 N$'000 2019 N$'000 Foreign exchange 79 536 95 183 Net fair value adjustments on held-for-trading financial assets Total 20 025 22 414 99 561 117 597 Auditors' remuneration Audit fees Other services Amortisation Communication expense Depreciation IT expenses Lease rentals on operating lease Professional fees Loss on sale of property and equipment Premises costs Staff costs Salaries and allowances Equity-settled share-based payments¹ Post-employment benefits - pension - defined contribution plan Post-employment benefits - medical expenses Other expenses² Total N$'000 N$'000 9 305 5 454 9 233 5 377 72 77 36 873 29 270 17 252 21 104 140 305 109 665 182 258 120 199 9 407 137 190 759 30 151 144 907 591 56 083 43 821 779 163 845 331 697 493 735 953 34 385 65 852 64 993 15 818 10 000 113 158 86 195 1 469 491 1 448 950 1 Equity-settled share-based payments in the prior year relate to the Purros Trust share scheme. All rights attached to this scheme vested on 31 December 2019. 2 Other expenses mainly comprise marketing and advertising expenses, operational risk losses, security expenses and travel and entertainment expenses.

View entire presentation