Annual Report 2012 - National Savings Bank

252STATEMENT OF COMPREHENSIVE INCOME IN US DOLLARSBankFor the year ended 31st December 2012 2011 Change 2012 2011 ChangeUS$ ‘000 US$ ‘000 % US$ ‘000 US$ ‘000 %Gross income 424,191 411,900 2.98 433,045 420,640 2.95Interest income 421,218 416,777 1.07 430,071 425,517 1.07Less: Interest expenses 313,015 259,258 20.74 320,400 265,304 20.77Net interest income 108,203 157,519 (31.31) 109,672 160,213 (31.55)Fee and commission income 1,773 2,131 (16.79) 1,773 2,131 (16.79)Less: Fee and commission expenses 196 235 (16.69) 222 294 (24.68)Net fee and commission income 1,577 1,896 (16.80) 1,551 1,837 (15.53)Net gain/(loss) from trading 559 (7,608) 107.35 559 (7,608) 107.35Net gain / ( loss ) from financial instrumentsdesignated at fair value through profit or loss - - - (1,109) (1,203) (7.76)Net gain / (loss) from financial investments 44 36 20.48 44 36 20.48Other operating income (net) 597 564 5.85 597 564 5.85Total operating income 110,980 152,407 (27.18) 111,314 153,839 (27.64)Impairment change for loans and other losses 1,047 1,262 (17.05) 1,047 1,262 (17.05)Net operating income 109,933 151,145 (27.27) 110,267 152,577 (27.73)Personnel expenses 32,607 36,634 (10.99) 32,722 36,760 (10.99)Other expenses 18,083 18,766 (3.64) 17,814 18,518 (3.80)Operating profit before value added tax (VAT) 59,243 95,745 (38.12) 59,731 97,299 (38.61)Value added tax (VAT) on financial services 9,909 13,845 (28.43) 9,981 14,016 (28.79)Operating profit after value added tax (VAT) 49,334 81,900 (39.76) 49,750 83,284 (40.26)Profit before tax 49,334 81,900 (39.76) 49,750 83,284 (40.26)Tax expenses 14,697 28,255 (47.98) 15,039 29,263 (48.61)Profit for the year 34,637 53,645 (35.43) 34,712 54,021 (35.74)GroupProfit attributable to:Equity holders of the Bank 34,637 53,645 (35.43) 34,712 54,021 (35.74)Profit for the year 34,637 53,645 (35.43) 34,712 54,021 (35.74)Earnings per share on profitBasic earnings per ordinary share 13.54 18.94 (28.55) 12.96 18.22 (28.89)Diluted earnings per ordinary share 13.54 18.94 (28.55) 12.96 18.22 (28.89)Profit/(loss) for the year 34,637 53,645 (35.43) 34,712 54,021 (35.74)Other comprehensive income, net of taxLess: Gains and losses on re-measuringavailable-for-sale financial assets (1,686) (10,969) (84.63) (1,686) (10,969) (84.63)Other comprehensive income for theyear, net of taxes (1,686) (10,969) (84.63) (1,686) (10,969) (84.63)Total comprehensive income for the year 32,951 42,676 (22.79) 33,026 43,052 (23.29)Attributable to:Equity holders of the Bank 32,951 42,676 (22.79) 33,026 43,052 (23.29)Total comprehensive income for the year 32,951 42,676 (22.79) 33,026 43,052 (23.29)US Dollar Conversion Rate (Rs) 125.05NATIONAL SAVINGS BANK . ANNUAL REPORT 2012