NOTES ON ACCOUNTS : (1998)

1. In conformity with the Accounting Policy and guidelines of RMA, interest earned but not collected amounting to Nu. 24,025,674.78 has not been recognised as income.

2. Guarantees given and letters of credit issued on behalf of various parties outstanding at the year-end, amount to Nu. 97,399,175.84 and Nu. 10,343,009.60 (net of margins) respectively (previous year Nu. 52,163,683,685.99 and nil respectively).

3. During the year Guarantee Commission has been accounted for on accrual method. This change in method of accounting has resulted in reduction of income of Nu. 1,583,127.97 during the year with a corresponding decrease in the year's profit.

4. Corporate Tax has become applicable to the Bank during the yaer. As a result, Corporate Tax has been provided @ 30% according to Taxation Policy.

5. Depreciation on assets acquired through Capital Grants has been charged off to revenue instead of adjusting the same against Capital Reserve.

6. Previous year's figures have been re-arrangedlre-grouped, wherever necessary.