Income Statement (US Dollars)
| GROUP | BANK | |||||
| For the year ended December 31, | 2016
US $ ’000 |
2015
US $ ’000 |
Change
% |
2016
US $ ’000 |
2015
US $ ’000 |
Change
% |
| Gross income | 625,880 | 542,667 | 15.33 | 621,987 | 540,187 | 15.14 |
| Interest income | 543,002 | 460,210 | 17.99 | 539,153 | 458,068 | 17.70 |
| Less: Interest expenses | 321,779 | 248,158 | 29.67 | 319,964 | 247,556 | 29.25 |
| Net interest income | 221,223 | 212,052 | 4.32 | 219,189 | 210,512 | 4.12 |
| Fees and commission income | 54,959 | 43,912 | 25.16 | 54,378 | 43,533 | 24.91 |
| Less: Fees and commission expenses | 7,619 | 6,379 | 19.44 | 7,529 | 6,252 | 20.43 |
| Net fees and commission income | 47,340 | 37,533 | 26.13 | 46,849 | 37,281 | 25.66 |
| Net gains/(losses) from trading | (9,794) | 5,643 | (273.56) | (9,794) | 5,643 | (273.56) |
| Net gains/(losses) from financial instruments designated at fair value through profit or loss |
– | – | – | – | – | – |
| Net gains/(losses) from financial investments | 740 | 4,814 | (84.63) | 739 | 4,814 | (84.65) |
| Other income (net) | 36,973 | 28,088 | 31.63 | 37,512 | 28,130 | 33.35 |
| Total operating income | 296,482 | 288,130 | 2.90 | 294,495 | 286,380 | 2.83 |
| Less: Impairment charges for loans and other losses | 10,573 | 28,441 | (62.82) | 10,216 | 27,355 | (62.65) |
| Net operating income | 285,909 | 259,689 | 10.10 | 284,279 | 259,025 | 9.75 |
| Less: Expenses | - | - | ||||
| Personnel expenses | 72,875 | 71,181 | 2.38 | 72,082 | 70,625 | 2.06 |
| Depreciation and amortisation | 8,470 | 8,367 | 1.23 | 7,943 | 7,921 | 0.28 |
| Other operating expenses | 45,472 | 41,309 | 10.08 | 45,624 | 41,505 | 9.92 |
| Total operating expenses | 126,816 | 120,857 | 4.93 | 125,650 | 120,052 | 4.66 |
| Operating profit before Value Added Tax (VAT) and Nation Building Tax (NBT) | 159,092 | 138,832 | 14.59 | 158,630 | 138,974 | 14.14 |
| Less: Value Added Tax (VAT) on financial services and Nation Building Tax (NBT) | 24,814 | 20,050 | 23.76 | 24,730 | 20,044 | 23.38 |
| Operating profit after Value Added Tax (VAT) and Nation Building Tax (NBT) | 134,278 | 118,782 | 13.05 | 133,900 | 118,930 | 12.59 |
| Share of profits of associates, net of tax | 34 | 95 | (64.21) | – | – | – |
| Profit before tax | 134,312 | 118,877 | 12.98 | 133,900 | 118,930 | 12.59 |
| Less: Income tax expense | 37,717 | 36,607 | 3.03 | 36,986 | 36,354 | 1.74 |
| Profit for the year | 96,595 | 82,270 | 17.41 | 96,914 | 82,576 | 17.36 |
| Profit Attributable to: | ||||||
| Equity holders of the Bank | 96,888 | 82,242 | 17.81 | 96,914 | 82,576 | 17.36 |
| Non-controlling interest | (293) | 28 | (1,146.43) | – | – | – |
| 96,595 | 82,270 | 17.41 | 96,914 | 82,576 | 17.36 | |
| Basic earnings per ordinary share (US $) | 0.11 | 0.09 | 22.22 | 0.11 | 0.09 | 22.22 |
| Diluted earnings per ordinary share (US $) | 0.11 | 0.09 | 22.22 | 0.11 | 0.09 | 22.22 |
US Dollar Accounts
The Income Statement and the Statement of Financial Position given on pages 434 and 435 are solely for the convenience of stakeholders and do not form part of the Financial Statements.