GROUP | BANK | ||||||
For the year ended December 31, | Note | 2017 Rs. ’000 |
2016 Rs. ’000 |
Change % |
2017 Rs. ’000 |
2016 Rs. ’000 |
Change % |
Gross income | 12 | 116,841,755 | 93,725,535 | 24.66 | 115,593,948 | 93,142,610 | 24.10 |
Interest income | 13.1 | 104,049,102 | 81,314,607 | 27.96 | 103,034,386 | 80,738,176 | 27.62 |
Less: Interest expense | 13.2 | 64,481,804 | 48,186,331 | 33.82 | 64,010,991 | 47,914,573 | 33.59 |
Net interest income | 13 | 39,567,298 | 33,128,276 | 19.44 | 39,023,395 | 32,823,603 | 18.89 |
Fee and commission income | 14.1 | 10,510,800 | 8,230,131 | 27.71 | 10,169,211 | 8,143,041 | 24.88 |
Less: Fee and commission expense | 14.2 | 1,586,334 | 1,140,954 | 39.04 | 1,566,851 | 1,127,536 | 38.96 |
Net fee and commission income | 14 | 8,924,466 | 7,089,177 | 25.89 | 8,602,360 | 7,015,505 | 22.62 |
Net gains/(losses) from trading | 15 | 233,956 | (1,466,711) | 115.95 | 233,956 | (1,466,711) | 115.95 |
Net gains/(losses) from financial instruments designated at fair value through profit or loss | – | – | – | – | – | – | |
Net gains/(losses) from financial investments | 16 | 129,210 | 110,759 | 16.66 | 129,030 | 110,701 | 16.56 |
Other income (net) | 17 | 1,918,687 | 5,536,749 | (65.35) | 2,027,365 | 5,617,403 | (63.91) |
Total operating income | 50,773,617 | 44,398,250 | 14.36 | 50,016,106 | 44,100,501 | 13.41 | |
Less: Impairment charges for loans and other losses |
18 | 2,225,914 | 1,583,326 | 40.58 | 1,914,241 | 1,529,814 | 25.13 |
Net operating income | 48,547,703 | 42,814,924 | 13.39 | 48,101,865 | 42,570,687 | 12.99 | |
Less: Expenses | |||||||
Personnel expenses | 19 | 11,338,517 | 10,913,088 | 3.90 | 11,268,016 | 10,794,307 | 4.39 |
Depreciation and amortisation | 20 | 1,416,927 | 1,268,330 | 11.72 | 1,307,804 | 1,189,493 | 9.95 |
Other operating expenses | 21 | 7,618,993 | 6,809,435 | 11.89 | 7,461,964 | 6,832,345 | 9.22 |
Total operating expenses | 20,374,437 | 18,990,853 | 7.29 | 20,037,784 | 18,816,145 | 6.49 | |
Operating profit before Value Added Tax (VAT) and Nation Building Tax (NBT) | 28,173,266 | 23,824,071 | 18.26 | 28,064,081 | 23,754,542 | 18.14 | |
Less: Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) | 4,896,620 | 3,715,941 | 31.77 | 4,881,137 | 3,703,359 | 31.80 | |
Operating profit after Value Added Tax (VAT) and Nation Building Tax (NBT) | 23,276,646 | 20,108,130 | 15.76 | 23,182,944 | 20,051,183 | 15.62 | |
Share of profits of associates, net of tax | 38.1 | 3,678 | 6,454 | (43.01) | – | – | – |
Profit before tax | 23,280,324 | 20,114,584 | 15.74 | 23,182,944 | 20,051,183 | 15.62 | |
Less: Income tax expense | 22 | 6,653,817 | 5,648,160 | 17.81 | 6,601,700 | 5,538,672 | 19.19 |
Profit for the year | 16,626,507 | 14,466,424 | 14.93 | 16,581,244 | 14,512,511 | 14.25 | |
Profit attributable to: | |||||||
Equity holders of the Bank | 16,605,963 | 14,510,333 | 14.44 | 16,581,244 | 14,512,511 | 14.25 | |
Non-controlling interest | 20,544 | (43,909) | 146.79 | – | – | – | |
Profit for the year | 16,626,507 | 14,466,424 | 14.93 | 16,581,244 | 14,512,511 | 14.25 | |
Earnings per share | |||||||
Basic earnings per ordinary share (Rs.) | 23.1 | 17.28 | 15.80 | 9.37 | 17.26 | 15.81 | 9.17 |
Diluted earnings per ordinary share (Rs.) | 23.2 | 17.27 | 15.77 | 9.51 | 17.24 | 15.77 | 9.32 |
The Notes appearing on this Annual Report form an integral part of these Financial Statements.