Income Statement
GROUP | BANK | ||||||
For the year ended December 31, | Note | 2014
Rs. ’000 |
2013
Rs. ’000 |
Change
% |
2014
Rs. ’000 |
2013
Rs. ’000 |
Change
% |
Gross income | 11 | 74,537,814 | 73,704,516 | 1.13 | 74,441,840 | 73,736,267 | 0.96 |
Interest income | 61,932,876 | 62,754,147 | (1.31) | 61,832,018 | 62,763,644 | (1.48) | |
Less: Interest expenses | 34,613,052 | 36,855,204 | (6.08) | 34,610,179 | 36,878,755 | (6.15) | |
Net interest income | 12 | 27,319,824 | 25,898,943 | 5.49 | 27,221,839 | 25,884,889 | 5.16 |
Fees and commission income | 5,613,684 | 4,880,093 | 15.03 | 5,592,744 | 4,876,517 | 14.69 | |
Less: Fees and commission expenses | 764,322 | 627,235 | 21.86 | 761,527 | 627,235 | 21.41 | |
Net fees and commission income | 13 | 4,849,362 | 4,252,858 | 14.03 | 4,831,217 | 4,249,282 | 13.69 |
Net gains/(losses) from trading | 14 | (305,492) | (1,625,926) | 81.21 | (305,492) | (1,625,926) | 81.21 |
Net gains/(losses) from financial instruments designated at fair value through profit or loss |
– | – | – | – | – | – | |
Net gains/(losses) from financial investments | 15 | 2,272,575 | 1,349,517 | 68.40 | 2,272,575 | 1,349,517 | 68.40 |
Other income (net) | 16 | 5,024,171 | 6,346,685 | (20.84) | 5,049,995 | 6,372,515 | (20.75) |
Total operating income | 39,160,440 | 36,222,077 | 8.11 | 39,070,134 | 36,230,277 | 7.84 | |
Impairment charges for loans and other losses | 17 | 4,898,249 | 5,177,019 | (5.38) | 4,918,755 | 5,204,012 | (5.48) |
Net operating income | 34,262,191 | 31,045,058 | 10.36 | 34,151,379 | 31,026,265 | 10.07 | |
Less: Expenses | |||||||
Personnel expenses | 18 | 8,956,323 | 8,221,265 | 8.94 | 8,903,048 | 8,186,205 | 8.76 |
Depreciation and amortisation | 19 | 1,262,000 | 868,382 | 45.33 | 1,200,546 | 936,257 | 28.23 |
Other operating expenses | 20 | 5,501,963 | 5,300,824 | 3.79 | 5,622,578 | 5,424,330 | 3.65 |
Operating profit before Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) |
18,541,905 | 16,654,587 | 11.33 | 18,425,207 | 16,479,473 | 11.81 | |
Less: Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) |
2,688,551 | 1,968,954 | 36.55 | 2,688,991 | 1,968,954 | 36.57 | |
Operating Profit after Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) |
15,853,354 | 14,685,633 | 7.95 | 15,736,216 | 14,510,519 | 8.45 | |
Share of profits of associates, net of tax | 6,563 | 5,285 | 24.18 | – | – | – | |
Profit before tax | 15,859,917 | 14,690,918 | 7.96 | 15,736,216 | 14,510,519 | 8.45 | |
Less: Income tax expense | 21 | 4,617,124 | 4,117,461 | 12.14 | 4,556,035 | 4,065,008 | 12.08 |
Profit for the year | 11,242,793 | 10,573,457 | 6.33 | 11,180,181 | 10,445,511 | 7.03 | |
Profit Attributable to: | |||||||
Equity holders of the Bank | 11,238,892 | 10,563,378 | 6.39 | 11,180,181 | 10,445,511 | 7.03 | |
Non-controlling interest | 3,901 | 10,079 | (61.30) | – | – | – | |
Profit for the year | 11,242,793 | 10,573,457 | 6.33 | 11,180,181 | 10,445,511 | 7.03 | |
Earnings per Share | |||||||
Basic earnings per ordinary share (Rs.) | 22 | 13.01 | 12.24 | 6.29 | 12.94 | 12.10 | 6.94 |
Diluted earnings per ordinary share (Rs.) | 22 | 12.95 | 12.22 | 5.97 | 12.88 | 12.09 | 6.53 |
The Notes form an integral part of these Financial Statements.