Income Statement
| GROUP | BANK | ||||||
| For the year ended December 31, | Note | 2016 Rs. ’000 |
2015 Rs. ’000 |
Change % |
2016 Rs. ’000 |
2015 Rs. ’000 |
Change % |
| Gross income | 12 | 93,725,535 | 78,225,397 | 19.81 | 93,142,610 | 77,867,952 | 19.62 |
| Interest income | 13.1 | 81,314,607 | 66,339,317 | 22.57 | 80,738,176 | 66,030,456 | 22.27 |
| Less: Interest expense | 13.2 | 48,186,331 | 35,771,967 | 34.70 | 47,914,573 | 35,685,172 | 34.27 |
| Net interest income | 13 | 33,128,276 | 30,567,350 | 8.38 | 32,823,603 | 30,345,284 | 8.17 |
| Fee and commission income | 14.1 | 8,230,131 | 6,329,900 | 30.02 | 8,143,041 | 6,275,276 | 29.76 |
| Less: Fee and commission expense | 14.2 | 1,140,954 | 919,590 | 24.07 | 1,127,536 | 901,190 | 25.12 |
| Net fee and commission income | 14 | 7,089,177 | 5,410,310 | 31.03 | 7,015,505 | 5,374,086 | 30.54 |
| Net gains/(losses) from trading | 15 | (1,466,711) | 813,376 | (280.32) | (1,466,711) | 813,376 | (280.32) |
| Net gains/(losses) from financial instruments designated at fair value through profit or loss | – | – | – | – | – | – | |
| Net gains/(losses) from financial investments | 16 | 110,759 | 693,987 | (84.04) | 110,701 | 693,933 | (84.05) |
| Other income (net) | 17 | 5,536,749 | 4,048,817 | 36.75 | 5,617,403 | 4,054,911 | 38.53 |
| Total operating income | 44,398,250 | 41,533,840 | 6.90 | 44,100,501 | 41,281,590 | 6.83 | |
| Less: Impairment charges for loans and other losses | 18 | 1,583,326 | 4,099,738 | (61.38) | 1,529,814 | 3,943,196 | (61.20) |
| Net operating income | 42,814,924 | 37,434,102 | 14.37 | 42,570,687 | 37,338,394 | 14.01 | |
| Less: Expenses | |||||||
| Personnel expenses | 19 | 10,913,088 | 10,260,750 | 6.36 | 10,794,307 | 10,180,537 | 6.03 |
| Depreciation and amortisation | 20 | 1,268,330 | 1,206,172 | 5.15 | 1,189,493 | 1,141,804 | 4.18 |
| Other operating expenses | 21 | 6,809,435 | 5,954,483 | 14.36 | 6,832,345 | 5,983,088 | 14.19 |
| Total operating expenses | 18,990,853 | 17,421,405 | 9.01 | 18,816,145 | 17,305,429 | 8.73 | |
| Operating profit before Value Added Tax (VAT) and Nation Building Tax (NBT) | 23,824,071 | 20,012,697 | 19.04 | 23,754,542 | 20,032,965 | 18.58 | |
| Less: Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) | 3,715,941 | 2,890,224 | 28.57 | 3,703,359 | 2,889,355 | 28.17 | |
| Operating profit after Value Added Tax (VAT) and Nation Building Tax (NBT) | 20,108,130 | 17,122,473 | 17.44 | 20,051,183 | 17,143,610 | 16.96 | |
| Share of profits of associates, net of tax | 6,454 | 13,638 | (52.68) | – | – | – | |
| Profit before tax | 20,114,584 | 17,136,111 | 17.38 | 20,051,183 | 17,143,610 | 16.96 | |
| Less: Income tax expense | 22 | 5,648,160 | 5,276,851 | 7.04 | 5,538,672 | 5,240,386 | 5.69 |
| Profit for the year | 14,466,424 | 11,859,260 | 21.98 | 14,512,511 | 11,903,224 | 21.92 | |
| Profit Attributable to: | |||||||
| Equity holders of the Bank | 14,510,333 | 11,855,172 | 22.40 | 14,512,511 | 11,903,224 | 21.92 | |
| Non-controlling interest | (43,909) | 4,088 | (1,174.09) | – | – | – | |
| Profit for the year | 14,466,424 | 11,859,260 | 21.98 | 14,512,511 | 11,903,224 | 21.92 | |
| Earnings per Share | |||||||
| Basic earnings per ordinary share (Rs.) | 23 | 16.30 | 13.34 | 22.19 | 16.31 | 13.39 | 21.81 |
| Diluted earnings per ordinary share (Rs.) | 23 | 16.27 | 13.32 | 22.15 | 16.27 | 13.37 | 21.69 |
The Notes appearing on this Annual Report form an integral part of these Financial Statements.