Annual Report 2006 - Rheinland Pfalz Bank

Statement of Financial Condition – Net Assets, Financial Position and Results of Operations LRP 2006 13
W 148.0 million, while operating expenses including
depreciation on fixed assets amounted to W 67.9 million.
Other operating expenses/income came to W 19.8 million
(previous year W 29.6 million).
While maintaining our conservative valuation policy,
we again clearly reduced net allocations to risk provisions
and other adjustments to W 15.1 million (previous
year W 44.3 million). Provisions were established for all
discernible risks.
Statement of Income of the Bank
31 Dec. 2006 31 Dec. 2005 Changes
3 millions 1 millions %
Net interest income 226.3 246.8 – 8.3
Net commission income 67.6 61.0 10.8
Net income from trading activities 11.2 12.7 – 11.8
General administrative expenses 173.5 163.3 6.2
Other operating expenses/income 15.1 9.1 65.9
Operating profit before risk provisions/
adjustments 146.7 166.3 – 11.8
Risk provisions/adjustments 19.9 40.7 – 51.1
Operating profit 126.8 125.6 1.0
Extraordinary expenses 0.0 4.3 – 100.0
Taxes on income and revenues 10.6 45.6 – 76.8
Distribution for silent participations 44.3 44.3 0.0
Net income for the year 71.9 31.4 129.0