Annual Report 2012 - National Savings Bank

205THE RESULTS OF A CHALLENGING YEARSTATEMENT OF COMPREHENSIVE INCOMEBankFor the year ended 31st December 2012 2011 Change 2012 2011 ChangeNote Rs. ‘000 Rs. ‘000 % Rs. ‘000 Rs. ‘000 %Gross income 3 53,045,059 46,544,644 13.97 54,152,229 47,532,290 13.93Interest income 52,673,261 47,095,745 11.84 53,780,431 48,083,391 11.85Less: Interest expenses 39,142,492 29,296,099 33.61 40,065,973 29,979,305 33.65Net interest income 4 13,530,769 17,799,646 (23.98) 13,714,458 18,104,086 (24.25)Fee and commission income 221,709 240,768 (7.92) 221,709 240,768 (7.92)Less: Fee and commission expenses 24,481 26,553 (7.80) 27,705 33,239 (16.65)Net fee and commission income 5 197,228 214,215 (7.93) 194,004 207,529 (6.52)Net gain/(loss) from trading 6 69,939 (859,727) 108.13 69,939 (859,727) 108.13Net gain/(loss) from financial instrumentsdesignated at fair value through profit or loss 7 - - - (138,710) (135,889) 2.08Net gain / (loss) from financial investments 8 5,481 4,111 33.33 5,481 4,111 33.33Other operating income (net) 9 74,669 63,747 17.13 74,669 63,747 17.13Total operating income 13,878,086 17,221,992 (19.42) 13,919,841 17,383,857 (19.93)Less: Impairment charge for loans and other losses 10 130,935 142,632 (8.20) 130,935 142,632 (8.20)Net operating income 13,747,151 17,079,360 (19.51) 13,788,906 17,241,225 (20.02)Less: ExpensesPersonnel expenses 11 4,077,501 4,139,657 (1.50) 4,091,835 4,153,912 (1.49)Other expenses 12 2,261,322 2,120,541 6.64 2,227,664 2,092,482 6.46Operating profit before value added tax (VAT) 7,408,328 10,819,162 (31.53) 7,469,407 10,994,831 (32.06)Less: Value added tax (VAT) on financial services 1,239,069 1,564,481 (20.80) 1,248,121 1,583,762 (21.19)Operating profit after value added tax (VAT) 6,169,259 9,254,681 (33.34) 6,221,286 9,411,069 (33.89)Profit Before Income Tax 6,169,259 9,254,681 (33.34) 6,221,286 9,411,069 (33.89)Less: Income tax expenses 13 1,837,917 3,192,819 (42.44) 1,880,607 3,306,669 (43.13)Profit for the year 4,331,342 6,061,862 (28.55) 4,340,679 6,104,400 (28.89)GroupProfit attributable to:Equity holders of the Bank 4,331,342 6,061,862 (28.55) 4,340,679 6,104,400 (28.89)Profit for the year 4,331,342 6,061,862 (28.55) 4,340,679 6,104,400 (28.89)Earnings per share on profitBasic earnings per ordinary share (Rs) 14 13.54 18.94 (28.55) 12.96 18.22 (28.89)Diluted earnings per ordinary share (Rs) 13.54 18.94 (28.55) 12.96 18.22 (28.89)Profit for the year 4,331,342 6,061,862 (28.55) 4,340,679 6,104,400 (28.89)Other comprehensive income, net of taxNet gains/(losses) on re-measuring available-for-salefinancial assets (210,840) (1,239,521) (82.99) (210,840) (1,239,521) (82.99)Other comprehensive income for theyear, net of taxes (210,840) (1,239,521) (82.99) (210,840) (1,239,521) (82.99)Total comprehensive income for the year 4,120,502 4,822,341 (14.55) 4,129,839 4,864,879 (15.11)Attributable to:Equity holders of the Bank 4,120,502 4,822,341 (14.55) 4,129,839 4,864,879 (15.11)Total comprehensive income for the year 4,120,502 4,822,341 (14.55) 4,129,839 4,864,879 (15.11)NATIONAL SAVINGS BANK . ANNUAL REPORT 2012