Financial reports

Income Statement

    GROUP BANK
For the year ended December 31, Note 2015
Rs. ’000
2014
Rs. ’000
Change
%
2015
Rs. ’000
2014
Rs. ’000
Change
%
Gross income 11 78,225,397 72,848,203 7.38 77,867,952 72,752,229 7.03
Interest income   66,339,317 61,932,876 7.11 66,030,456 61,832,018 6.79
Less: Interest expenses   35,771,967 34,613,052 3.35 35,685,172 34,610,179 3.11
Net interest income 12 30,567,350 27,319,824 11.89 30,345,284 27,221,839 11.47
Fees and commission income   6,329,900 5,613,684 12.76 6,275,276 5,592,744 12.20
Less: Fees and commission expenses   919,590 764,322 20.31 901,190 761,527 18.34
Net fees and commission income 13 5,410,310 4,849,362 11.57 5,374,086 4,831,217 11.24
Net gains/(losses) from trading 14 813,376 (305,492) 366.25 813,376 (305,492) 366.25
Net gains/(losses) from financial instruments designated at fair value through profit or loss  
Net gains/(losses) from financial investments 15 693,987 2,272,575 (69.46) 693,933 2,272,575 (69.46)
Other income (net) 16 4,048,817 3,334,560 21.42 4,054,911 3,360,384 20.67
Total operating income   41,533,840 37,470,829 10.84 41,281,590 37,380,523 10.44
Less: Impairment charges for loans and other losses 17 4,099,738 3,208,638 27.77 3,943,196 3,229,144 22.11
Net operating income   37,434,102 34,262,191 9.26 37,338,394 34,151,379 9.33
Less: Expenses              
Personnel expenses 18 10,260,750 8,956,323 14.56 10,180,537 8,903,048 14.35
Depreciation and amortisation 19 1,206,172 1,262,000 (4.42) 1,141,804 1,200,546 (4.89)
Other operating expenses 20 5,954,483 5,501,963 8.22 5,983,088 5,622,578 6.41
Total operating expenses   17,421,405 15,720,286 10.82 17,305,429 15,726,172 10.04
Operating profit before Value Added Tax (VAT) and Nation Building Tax (NBT)   20,012,697 18,541,905 7.93 20,032,965 18,425,207 8.73
Less: Value Added Tax (VAT) on financial services and Nation Building Tax (NBT)   2,890,224 2,688,551 7.50 2,889,355 2,688,991 7.45
Operating Profit after Value Added Tax (VAT) and Nation Building Tax (NBT)   17,122,473 15,853,354 8.01 17,143,610 15,736,216 8.94
Share of profits of associates, net of tax   13,638 6,563 107.80
Profit before tax   17,136,111 15,859,917 8.05 17,143,610 15,736,216 8.94
Less: Income tax expense 21 5,276,851 4,617,124 14.29 5,240,386 4,556,035 15.02
Profit for the year   11,859,260 11,242,793 5.48 11,903,224 11,180,181 6.47
Profit Attributable to:              
Equity holders of the Bank   11,855,172 11,238,892 5.48 11,903,224 11,180,181 6.47
Non-controlling interest   4,088 3,901 4.79
Profit for the year   11,859,260 11,242,793 5.48 11,903,224 11,180,181 6.47
Earnings per Share              
Basic earnings per ordinary share (Rs.) 22 13.53 12.87 5.13 13.59 12.81 6.09
Diluted earnings per ordinary share (Rs.) 22 13.51 12.82 5.38 13.57 12.75 6.43

The Notes form an integral part of these Financial Statements.