The Case Study - Seylan Bank

138Seylan Bank PLC Annual Report 2009INCOME STATEMENTBANKGROUPFor the Year ended 31st December 2009 2008 2009 2008(Reclassified)(Restated)Note Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000Income 2 23,154,529 25,246,209 24,538,978 27,053,951Interest Income 3 20,708,034 21,552,070 21,796,473 23,156,161Less: Interest Expenses 4 13,492,053 14,361,452 14,389,303 15,875,504Net Interest Income 7,215,981 7,190,618 7,407,170 7,280,657Foreign Exchange Profit 521,388 670,731 521,388 670,731Net Fee and Commission Income 5 1,169,124 1,749,737 1,225,310 1,778,320Other Income 6 650,856 1,221,582 879,701 1,385,305Operating Income 9,557,349 10,832,668 10,033,569 11,115,013Less: Operating Expenses 7Personnel Expenses 8 2,385,255 3,405,714 2,500,429 3,608,728Premises, Equipment & EstablishmentExpenses 1,608,097 1,505,226 1,619,848 1,615,111Provision for Loan Losses 9 2,183,132 2,467,187 2,227,623 2,804,112Diminution/(Appreciation) in Value ofInvestments 10 (47,094) 40,684 (41,965) 277,099Other Overhead Expenses 2,535,387 3,258,616 2,794,004 3,545,5428,664,777 10,677,427 9,099,939 11,850,592Profit/(Loss) from Operationsbefore Taxation 892,572 155,241 933,630 (735,579)Less: Income Tax Expense 11 349,271 – 484,869 64,224Profit/(Loss) for the Year 543,301 155,241 448,761 (799,803)Attributable to -Equity Holders of the Bank 543,301 155,241 569,208 (142,993)Minority Interest – – (120,447) (656,810)Net Profit/(Loss) for the Year 543,301 155,241 448,761 (799,803)Basic Earnings/(Loss) per Share (Rs.) 12 2.83 0.90 2.97 (0.89)Dividends per Share (Rs.) * 0.50 – 0.50 –Notes to the Consolidated Financial Statements from pages 143 to 226 form an integral part of these FinancialStatements.* Based on the final dividend proposed to be approved at the Annual General Meeting.