Annual Report 2013

Statement of Profit and Loss and
other Comprehensive Income
FOR THE YEAR ENDED 30 June 2013
Note
2013
$
2012
$
Interest revenue 2.a 10,502,919 11,689,681
Interest expense 2.c 5,298,713 6,350,450
Net interest income 5,204,206 5,339,231
Fee commission and other income 2.b 1,136,674 1,140,993
Net operating income 6,340,880 6,480,224
Less
Non interest expenses
Impairment losses on loans receivable from members 2.d 90,811 56,999
Fee and commission expenses 438,140 449,802
General administration
- Employees compensation and benefits 2,211,916 2,187,655
- Depreciation and amortisation 2.e 298,180 356,420
- Information technology 745,972 776,362
- Office occupancy 374,496 360,744
- Other administration 437,735 432,577
Total General Administration 4,068,299 4,113,758
Other Operating Expenses 912,716 1,088,918
Total non interest expenses 5,509,966 5,709,477
Profit before income tax 830,914 770,747
Income tax expense 3.a 243,712 187,255
Profit after income tax 587,202 583,492
Other comprehensive income, net of income tax - -
Total comprehensive income for the period 587,202 583,492
The above Statement of Profit and Loss and other Comprehensive Income should be read in conjunction with the Notes to the Financial
Statements set out on pages 19 to 52.
Intech Credit Union Ltd Annual Report 2013 15