CAL BANK LIMITED CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER m m. Notes. Interest income Interest expense

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1 CONSOLIDATED PROFIT AND LOSS ACCOUNT Interest income Interest expense ,671 (68,4) 132,658 (51,674) Net interest income 94,447 80,984 Commissions and fees Other operating income 6 7,510 50,129 29,480 18,071 Operating Income 182, ,535 Total Operating expenses Charge for bad and doubtful debts 8 11 (88,435) (27,700) (68,6) (16,532) Operating profit 65,951 43,7 Other Income 9 2,072 1,173 Profit Before 68,0 (,349) (1,661) 44,550 (15,560) (2,287) Profit after taxation transferred to Income Surplus Account 47,013,703 INCOME SURPLUS ACCOUNT Net Profit transferred from Profit and Loss Account Transfer to Statutory Reserve Fund Proposed Dividendat 75 per share (: 55 per share) Dividend paid in respect of employee share options exercised 47,013 (11,5) (11,897) - 40,178,703 (25,608) () Balance at 31st December 56,356 Earning per share Dividend per share 75 55

2 PROFIT AND LOSS ACCOUNT Interest income Interest expense ,583 (68,495) 132,492 (51,848) Net interest income 94,088 80,644 Commissions and fees Other operating income ,463 49,859 28,416 17,951 Operating Income 180, ,011 Total Operating expenses Charge for bad and doubtful debts 8 11 (86,480) (27,700) (64,833) (16,532) Operating profit 66,0 45,646 Other Income Profit Before 66,417 (,254) (1,661) 45,678 (15,367) (2,284) Profit after taxation transferred to Income Surplus Account 45,502 28,027 INCOME SURPLUS ACCOUNT Net Profit transferred from Profit and Loss Account Transfer to Statutory Reserve Fund Proposed Dividend at 75 per share (: 55) Dividend paid in respect of employee Share options exercised 45,502 (11,5) (11,897) - 33,5 28,027 (25,608) () Balance at 31st December 49,256 Earning per share (cedis per share) Dividend per share (cedis per share)

3 CONSOLIDATED BALANCE SHEET AT 31ST DECEMBER ASSETS Cash and Balance with Bank of Ghana Government Securities Due from other banks and Financial Institutions Investment in other Securities Loans and advances Other assets Property and Equipment (a) 16 12(b) 20(b) 47,4 290, ,5 24,7 856,801 18, ,188 83,581 2,929 4,667, ,920 11,452 1,159 51,696 TOTAL ASSETS 1,570, ,286 LIABILITIES Customer Deposits Due to banks & other Financial Institution Interest payable and other liabilities Deferred 12(d) 850,329 28, ,931 8,6 607,812 16, ,050 3,452 TOTAL LIABILITIES 1,355, ,878 SHAREHOLDERS FUND Stated capital Statutory Reserve Fund Capital Surplus Income surplus ,429 59,369 27,1 56,356 71,428 47,994 31,1 Total Shareholders Funds 4,5 183,408 TOTAL LIABILITIES AND SHAREHOLDERS FUNDS 1,570, ,286 Net Asset per Share (cedis per share) 1,352 1,168 Directors The Directors approved the financial statements on 16th February, 2007.

4 BALANCE SHEET AT 31ST DECEMBER ASSETS Cash and Balances with Bank of Ghana Government Securities Due from Other Banks and financial Inst. Investment in other Securities Loans and Advances Investment in Subsidiaries Other Assets Property and Equipment (a) (a) 20(a) 47,4 288, ,5, ,801 7,100 17, ,166 83,581 2,8 4,667 35, ,920 2,100 11,3 1,0 51,696 TOTAL ASSETS 1,570, ,690 LIABILITIES Customer Deposits Due to banks and other Financial Institutions Interest payable and other liabilities Deferred 12(d) 853,103 28, ,256 8,6 610,933 16, ,470 3,452 TOTAL LIABILITIES 1,357, ,4 SHAREHOLDERS FUND Stated Capital Statutory Reserve Fund Capital Surplus Income Surplus ,429 59,369 32,8 49,256 71,428 47,994 32,8 TOTAL SHAREHOLDERS FUND 2, ,271 TOTAL LIABILITIES AND SHAREHOLDERS FUNDS 1,570, ,690 Net Asset value per Share (cedi per share) 1,342 1,142 Directors The Directors approved the financial statements on 16th February, 2007.

5 CONSOLIDATED CASH FLOW STATEMENT Net Cash (outflow)/inflow from Operating Activities (Note 28) Returns on Investments and Servicing of Finance Dividend Received Dividend Paid Net Cash Outflow from Returns on Investments and Servicing of Finance Tax Paid Investing Activities Purchase of Property and Equipment Proceeds from Sale of Property and Equipment Investments in other securities Bank s shares held by subsidiary m (1,949) 440 (8,9) (13,730) (1,451) (15,181) (5,329) (28,581) ,177 (4,140) m 94, (7,774) (7,608) (15,3) (2,360) (17,683) 68,820 (,112) 32 (30,641) (1,452) Net Cash Outflow from Investing Activities Net Cash (Outflow)/Inflow before Financing Financing Increase in Borrowings Repayment of Borrowings Appreciation in the Level of Borrowings through Exchange Fluctuations Proceeds from shares issued Net Cash Inflow from Financing Increase in Cash and Cash Equivalents (18,357) (253,686) 328,601 (47,112) ,7 28,701 (51,173) 17,647 70,043 (27,409) ,870 61,517 Analysis of Changes in Cash and Cash Equivalents Net Cash Inflow Balance at 31st December (Note 13(i)) 278,248 28, ,949 6,731 61, ,248