IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

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Consolidated income statementFor the year ended 31 December 20112011 2010Note €m €mInterest and similar income 2,469 2,304Interest expense and similar charges (1,525) (1,562)Net interest income 4 944 742Fee and commission income 5 64 47Fee and commission expense 5 (5) (58)Net trading expense 6 (74) (41)Financial assets designated at fair value 7 2 (23)Gain on liability management exercise 8 - 1,589Other operating income/(expense) 9 9 (104)Other (expense)/income (4) 1,410Total operating income 940 2,152Administrative expenses 10 (297) (327)Depreciation (13) (16)Amortisation of intangible assets - software 31 (10) (10)Total operating expenses (320) (353)Operating profit before disposals and provisions 620 1,799Loss on transfer of assets and liabilities 13 (214) -Gain/(loss) on disposal of assets to NAMA 14 776 (11,547)Loss on deleveraging of other financial assets 15 (426) -Provisions for impairment and other provisions 16 (1,644) (7,767)Operating loss (888) (17,515)Share of results of associates and joint ventures 29 15 (104)Loss before taxation (873) (17,619)Taxation 17 (12) (32)Loss for the year (885) (17,651)Attributable to:Owner of the parent 18 (884) (17,651)Non-controlling interests (1) -(885) (17,651)Directors: Alan Dukes (Chairman), A.M.R. (Mike) Aynsley (Group Chief Executive), Gary Kennedy (Non-executive Director).Secretary: Philip Brady.32
Consolidated statement of comprehensive incomeFor the year ended 31 December 2011Irish Bank Resolution Corporation LimitedAnnual Report & Accounts 20112011 2010Note €m €mLoss for the year (885) (17,651)Other comprehensive incomeNet actuarial losses in retirement benefit schemes, after tax 11 (6) (7)Net change in cash flow hedging reserve, after tax 45 (26) (53)Net change in available-for-sale reserve, after tax 45 (39) 17Foreign exchange translation 45 21 59Other comprehensive income for the year, after tax 47 (50) 16Total comprehensive income for the year (935) (17,635)Attributable to:Owners of the parent (934) (17,635)Non-controlling interests (1) -(935) (17,635)33
Page 1 and 2: Irish Bank Resolution Corporation L
Page 3 and 4: ContentsIrish Bank Resolution Corpo
Page 5 and 6: Chairman’s statementIrish Bank Re
Page 7 and 8: Group Chief Executive’s reviewIri
Page 9 and 10: Group Chief Executive’s review co
Page 11 and 12: Business review continuedIrish Bank
Page 17 and 18: Board of DirectorsIrish Bank Resolu
Page 19 and 20: Corporate Responsibility continuedI
Page 21 and 22: Principal risks and uncertainties c
Page 23 and 24: Principal risks and uncertainties c
Page 25 and 26: Report of the DirectorsIrish Bank R
Page 27 and 28: Corporate governance statementIrish
Page 29 and 30: Corporate governance statement cont
Page 31 and 32: Corporate governance statement cont
Page 33: OpinionIn our opinion:• the Group
Page 37 and 38: Bank statement of financial positio
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Irish Bank Resolution Corporation L
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Supplementary information (unaudite
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Irish Bank ResolutionCorporation Li
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IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

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