Annual Financial Statements 2020

62 62 ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS CONTINUED 22. Maturity analysis of liabilities 22.1 Financial liabilities The following table discloses the maturity analysis for the company's financial liabilities on a contractual discounted basis. 23. 23.1 Contingent liabilities and commitments Contingent liabilities STANDARD BANK NAMIBIA LIMITED Annual financial statements 2020 63 Maturing within Maturing between Maturing between Note On demand N$'000 1 month N$'000 1-6 months N$'000 6-12 months N$'000 Maturing after 12 months N$'000 Total N$'000 2020 Derivative liabilities 2 333 901 28 222 362 123 Trading liabilities 13 230 230 Letters of credit Guarantees Unutilised borrowing facilities Total 23.2 Capital commitments 2020 N$'000 2019 N$'000 25 432 62 451 1 767 877 2 086 955 4 683 065 4 329 351 6 476 374 6 478 757 Deposits and current accounts 15 16 155 256 848 961 1 797 117 5 873 125 1 746 391 26 420 850 Debt securities issued 16 1 620 305 1 620 305 Contractual capital expenditures Lease liabilities 17 4 787 23 907 16 447 219 551 264 692 Total 2020 N$'000 2019 N$'000 30 702 42 418 30 702 42 418 Other financial liabilities 16 155 256 1968 855 946 1 932 3 900 The expenditure will be funded from internal resources. 1 821 024 6 223 473 3 616 401 28 672 100 23.3 Lease commitments 2019 Derivative liabilities 2 135 778 Trading liabilities 13 4 512 6 733 10 369 142 511 23.3.1 The future minimum payments under non-cancellable operating leases are as follows: 14 881 Deposits and 2020 N$'000 2019 N$'000 current accounts 15 16 681 499 541 796 3 810 601 4 003 182 3 298 891 28 335 969 Debt securities issued Lease liabilities 16 17 2 880 13 452 203 230 3 394 1 388 114 1 591 344 31 319 51 045 Low value assets and short term leases (IFRS 16) Within one year After one year but within five years Other financial¹ liabilities 16 681 499 2 422 547 098 1 931 4 353 Total 5 306 5 762 2 788 4 074 8 094 9 836 3 824 053 4 350 096 4 737 357 30 140 103 23.4 Legal proceedings 1 This line has been updated to exclude non-financial liabilities from this line and include them as part of note 22.2. Refer to page 95 for funding and liquidity risk information in Annexure C. 22.2 Non-financial liabilities In the ordinary course of business, the company is involved as a defendant in litigation, lawsuits and other proceedings. Management recognises the inherent difficulty of predicting the outcome of defended legal proceedings. Nevertheless, based on management's knowledge from investigation, analysis and after consulting with legal counsel, management believes that there are no individual legal proceedings that are currently assessed as being 'likely to succeed and material' or 'unlikely to succeed but material should they succeed. The company is also the defendant in some legal cases for which the company is fully indemnified by external third parties, none of which are individually material. Management is accordingly satisfied that the legal proceedings currently pending against the company should not have a material adverse effect on the company's consolidated financial position and the directors are satisfied that the company has adequate insurance programmes and, where required in terms of IFRS for claims that are probable, provisions in place to meet claims that may succeed. Less than More than 12 months 12 months Note after reporting period N$'000 after reporting period N$'000 Total 24. Interest income N$'000 2020 N$'000 2019 N$'000 2020 Provisions and other liabilities 17 511 169 108 000 619 169 Deferred tax liability 14 * * 297 312 511 169 108 000 916 481 Effective interest rate income on: Financial investments Loans and advances 20191 Interest income on credit impaired financial assets Total 1 985 418 79 963 2 228 705 163 324 2 581 169 90 991 2 876 281 204 121 Provisions and other liabilities 17 1 224 901 118 896 Deferred tax liability 14 * * 1 343 797 190 691 Comprising: Interest income on items measured at amortised cost 2 065 381 2 672 160 1 224 901 118 896 1 534 488 Interest income on items measured at FVOCI 163 324 204 121 1 This table has been updated to include non-financial liabilities as per note 17. * Undated.

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