Construction Industry Council - Annual Report 2024

CONSTRUCTION INDUSTRY COUNCIL 222 For the year ended 31 December 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 18. CASH AND BANK BALANCES Cash and deposits at banks comprise cash and time deposits held by the Group for the purpose of meeting the Group’s cash commitments, which time deposits as at 31 December 2024 carry interest at market rate range from 3.60% to 4.75% (2023: 3.88% to 5.42%). 2024 2023 HK$ HK$ Deposits with banks – with original maturity less than three months – The Group 818,040,266 360,000,000 – CITF – 1,752,000,000 – with original maturity over three months – The Group 1,954,331,575 1,601,040,000 – CITF (Note 20) 1,595,000,000 – 4,367,371,841 3,713,040,000 Bank balances and cash – The Group 218,187,280 151,670,760 – Construction Industry – Anti-epidemic fund 16,055,150 15,987,781 – CITF (Note 20) 47,856,587 51,927,418 282,099,017 219,585,959 4,649,470,858 3,932,625,959 Deposits and bank balances totalling HK$1,642,856,587 (2023: HK$1,803,927,418) being CITF (Note 20) are kept at earmarked bank accounts. 19. ACCOUNTS AND OTHER PAYABLES AND ACCRUALS 2024 2023 HK$ HK$ Construction Industry – Anti-epidemic Fund (Note) 16,033,101 16,065,392 Other payables and accruals 396,272,882 369,280,635 412,305,983 385,346,027