SBN HOLDINGS LIMITED Annual Report 2022
NOTES TO THE ANNUAL FINANCIAL STATEMENTS continued
102
26.
Fee and commission expense
Account transaction fees
Card-based commission
Documentation and administration fees
Electronic banking fees
Total
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
14 720
135 201
11 452
97 490
132 128
126 739
19 296
25 680
301 345
261 361
22
27.
All fee and commission expenses reported above relate to financial assets or liabilities not carried at FVTPL for the group.
Trading revenue
30.
Credit impairment charges
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
31.
Foreign exchange gains
117 484
92 553
Net fair value adjustments on held-for-trading
financial assets
32 694
21 382
Total
150 178
113 935
28.
Other revenue
SBN HOLDINGS LIMITED
Annual report 2022
103
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
Net ECL raised and released
202 457
324 705
Financial investments (note 4)
(359)
Loans and advances (note 5.3)
203 099
(1938)
328 163
Letters of credit, bank acceptances and guarantees
(note 22.1)
(283)
Recoveries on loans and advances previously written off
Total
(41 244)
(1520)
(35 954)
161 213
288 751
Cash and balances with central bank, financial investments, other financial assets, and off-balance sheet exposures as detailed
in notes 1, 4, 6 and Annexure B, reflect balances where the group transacted with counterparties with low credit risk for the
purpose of impairment assessment.
Operating expenses
GROUP
COMPANY
2022
N$'000
2021
N$'000
2022
N$'000
2021
N$'000
COMPANY
2021
N$'000
Auditor's remuneration
Audit fees
Other services¹
Amortisation
Communication expenses
Depreciation
IT expenses
11 402
6 839
10 784
6 537
370
370
116
116
618
302
54 787
49 449
13 508
14 954
135 841
140 920
276 712
225 149
Operating lease rentals²
19 762
15 570
Professional fees
181 168
137 158
606
3 491
(Profit)/loss on sale of property and equipment and
modifications/terminations of leases
(3426)
(703)
Impairment loss on property and equipment
Premises costs
1 775
2 016
49 780
45 026
Staff costs
812 550
838 915
Salaries and allowances
725 942
751 374
Post-employment benefits - pension - defined
contribution plan
68 887
69 882
COMPANY
2021
N$'000
Post-employment benefits - medical expenses
17 721
17 659
Other expenses 3.4
124 816
111 511
694
1 425
Total
1 678 675
1 586 804
1 670
5 032
GROUP
2022
N$'000
2021
N$'000
2022
N$'000
Property-related revenue
26 482
650
Commission revenue from insurance broking services
Profit share income
43 000
46 226
68 891
42 429
68 891
Other non-banking related revenue
7 528
16 447
42 429
1 250
Dividends on unlisted financial investments¹
631
66 251
236 917
Total
145 901
106 383
135 142
280 596
1 Included in dividends on unlisted financial investments for the company is dividend income from subsidiary companies.
29.
Other gains on financial instruments
GROUP
2021
N$'000
2022
N$'000
2022
N$'000
default
Fair value gains on financial instruments measured
at FVTPL
74 363
88 141
Total
74 363
88 141
1
All fees for services paid to the group and company's auditors were considered and approved by the board audit committee in terms of its non-audit
services policy.
2 This relates to low value and short term lease payments.
3 Other expenses mainly comprise marketing and advertising expenses, operational risk losses, security expenses and travel and entertainment expenses.
4 See Annexure C for details of the directors' remuneration.View entire presentation