Group | BANK | |||||
For the year ended December 31, | 2018 USD ’000 |
2017 USD ’000 |
Change % |
2018 USD ’000 |
2017 USD ’000 |
Change % |
Gross income | 763,154 | 631,722 | 20.81 | 754,368 | 624,904 | 20.72 |
Interest income | 647,821 | 568,574 | 13.94 | 641,889 | 563,029 | 14.01 |
Less: interest expense | 398,541 | 352,360 | 13.11 | 396,306 | 349,787 | 13.30 |
Net interest income | 249,280 | 216,214 | 15.29 | 245,583 | 213,242 | 15.17 |
Fee and commission income | 68,274 | 57,436 | 18.87 | 65,509 | 55,569 | 17.89 |
Less: fee and commission expense | 10,162 | 8,668 | 17.24 | 10,043 | 8,562 | 17.30 |
Net fee and commission income | 58,112 | 48,768 | 19.16 | 55,466 | 47,007 | 18.00 |
Net gains/(losses) from trading | (16,575) | 1,278 | (1,396.95) | (16,575) | 1,278 | (1,396.95) |
Net fair value gains/(losses) from financial instruments at fair value through profit or loss | – | – | – | – | – | – |
Net gains/(losses) from de-recognition financial assets | 1,486 | 499 | 197.80 | 1,486 | 499 | 197.80 |
Net other operating income | 62,148 | 3,935 | 1,479.36 | 62,059 | 4,527 | 1,270.86 |
Total operating income | 354,451 | 270,694 | 30.94 | 348,019 | 266,553 | 30.56 |
Less: impairment charges and other losses | 48,270 | 5,406 | 792.90 | 46,859 | 3,703 | 1,165.43 |
Net operating income | 306,181 | 265,288 | 15.41 | 301,160 | 262,850 | 14.57 |
Less: expenses | ||||||
Personnel expenses | 72,621 | 61,959 | 17.21 | 71,426 | 61,574 | 16.00 |
Depreciation and amortisation | 8,760 | 7,743 | 13.13 | 8,028 | 7,146 | 12.34 |
Other operating expenses | 49,147 | 41,634 | 18.05 | 48,793 | 40,776 | 19.66 |
Total operating expenses | 130,529 | 111,336 | 17.24 | 128,247 | 109,496 | 17.12 |
Operating profit before taxes on financial services | 175,653 | 153,952 | 14.10 | 172,913 | 153,354 | 12.75 |
Less: taxes on financial services | 33,070 | 26,757 | 23.59 | 33,070 | 26,673 | 23.98 |
Operating profit after taxes on financial services | 142,583 | 127,195 | 12.10 | 139,843 | 126,681 | 10.39 |
Share of profits of associates, net of tax | 33 | 20 | 65.00 | – | – | – |
Profit before tax | 142,616 | 127,215 | 12.11 | 139,843 | 126,681 | 10.39 |
Less: income tax expense | 45,004 | 36,360 | 23.77 | 43,975 | 36,075 | 21.90 |
Profit for the year | 97,612 | 90,855 | 7.44 | 95,868 | 90,606 | 5.81 |
Profit attributable to: | ||||||
Equity holders of the Bank | 96,912 | 90,743 | 6.80 | 95,868 | 90,606 | 5.81 |
Non-controlling interest | 700 | 112 | 525.00 | – | – | – |
97,612 | 90,855 | 7.44 | 95,868 | 90,606 | 5.81 | |
Basic earnings per ordinary share (USD) | 0.10 | 0.09 | 11.11 | 0.09 | 0.09 | – |
Diluted earnings per ordinary share (USD) | 0.10 | 0.09 | 11.11 | 0.09 | 0.09 | – |
The Income Statement and the Statement of Financial Position given on pages 426 and 427 are solely for the convenience of stakeholders and do not form part of the Financial Statements.