IKPE ANNANG COMMUNITY BANK NIGERIA  LTD
STAEMENT OF VALUE ADDED
FOR THE YEAR ENDED 31st  DECEMBER  2005
                                                                                   
                                            2005                                                                      2004
                                                   N                                 %                     N                     %
 Gross earnings                                1,545,136                                          451,497
   Interest expense                             (131,000)                                           (17,145)                                                                      
  Bought in materials and services       1,414,136                                        377,352
  Loan loss expense                            ( 1,353,974)                                      (455,114)
                                                            21,95                          100               4, 957,113            
  Valued Added                                  82,113                                              5,034,8767        100
                          
                           Applied to pay:
                           - Employees as wages and salaries 757, 600             923          614,917           12
                           - Government as taxes                          -                      -                  -                   -                           -Providers of finance                            -                      -                  -                   -
                         
                           Retained in business:
                           - Depreciation                                    93,685              114             8,477              -
                           - Profit for the year                         (769,172)          (377)        (5,658,2)       (112)
                                                                                     82,113              100         (5,034,875)      100
                           Financial Summary
                                                            2005           2004        2003                 2002             2001
                                                            N                  N              N                     N                   N
   Cash and Short term Funds      2,676,314       306,902       556,774       1,359,096      1,728,146
   Loans & Advances                    4,626,137        59,400     4,068,417      9,239,919     11,889,720
  Other Assets                              1,720,178    1,053, 469    2,563,362      1,842,047      1,080,145     Fixed Assets                                 747,100          65,625         74,102           83,729           94,671 
                                                      9,769,729     1,485,396    7,262,655     12,424,788   14,792,682
                          Liabilities
Deposit   and other Accounts 12,656, 658       3,564,814      3,238,832     6,331216     13,152, 395
Other Liabilities                              466,743        505,082        950,054     1,062,733       507,168                                                      13,123,401     4,069,896      4,188,886     7,393,949     13,659,563

 Gross Earnings                            1,545, 136       451,497       314,502        491,981        1,586,706
 Profit/(Loss)before taxation    (769,172)        (5,658,269     (2,057,070)   (137,979)      650,230
 Taxation                                       -                           -                     -                 -                    -
 Profit/(Loss)after taxation       (769,172)        (5,658,269)      (2,057,070)  (137,979)     650,230