189 / 316
AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 186
THE GROUP
THE BANK
Year ended
Year ended
Year ended
Year ended
Year ended
Year ended
30 June 2015
30 June 2014 30 June 2013
30 June 2015
30 June 2014 30 June 2013
Notes
MUR
MUR
MUR
MUR
MUR
MUR
Interest income
3
1,603,346,016
1,362,483,541
986,611,615
1,609,152,800
1,353,357,522
986,614,164
Interest expense
4
(756,260,493)
(701,314,270)
(620,362,470)
(748,563,714)
(694,338,487)
(620,367,037)
Net interest income
847,085,523
661,169,271
366,249,145
860,589,086
659,019,035
366,247,127
Fees and commission income
5
508,817,561
330,712,409
179,492,120
285,987,554
196,663,870
176,526,845
Fees and commission expense
5
(73,070,643)
(36,193,075)
(21,367,222)
(72,768,301)
(38,043,390)
(20,730,461)
Net fees and commission income
5
435,746,918
294,519,334
158,124,898
213,219,253
158,620,480
155,796,384
Net trading income
6a
7,485,446
248,816,151
193,093,707
471,081,684
245,815,180
132,453,791
Other operating income
6b
100,027,593
20,594,390
9,336,696
101,863,180
113,104,430
9,336,696
Total operating income
1,390,345,480
1,225,099,146
726,804,446
1,646,753,203
1,176,559,125
663,833,998
(Net allowance for credit impairment)/
Reversal of impairment charge
7
(236,979,654)
(67,710,745)
1,152,052
(500,278,533)
(175,710,745)
1,152,052
Net operating income
1,153,365,826
1,157,388,401
727,956,498
1,146,474,670
1,000,848,380
664,986,050
Personnel expenses
8
(371,876,577)
(341,433,820)
(197,632,225)
(294,044,111)
(288,876,808)
(197,632,225)
Depreciation of equipment
23
(15,888,206)
(8,591,580)
(4,695,949)
(13,535,822)
(6,877,644)
(4,694,856)
Amortisation of intangible assets
24
(64,546,070)
(48,458,634)
(5,714,166)
(8,729,435)
(6,623,537)
(5,714,166)
Other operating expenses
9
(329,644,606)
(213,474,417)
(118,000,522)
(273,372,535)
(192,258,648)
(116,857,206)
Total operating expenses
(781,955,459)
(611,958,451)
(326,042,862)
(589,681,903)
(494,636,637)
(324,898,453)
Operating profit
371,410,367
545,429,950
401,913,636
556,792,767
506,211,743
340,087,597
Share of profit of joint venture
21
-
2,664,054
16,283,494
-
-
-
Fair value gain on acquisition of subsidiaries
19
-
125,845,708
-
-
-
-
Impairment loss on subsidiary
18
-
-
-
(302,554,154)
(217,000,000)
-
Impairment loss on associate
22
(118,564,966)
(144,246,639)
-
-
-
-
Impairment of available-for-sale investment
17
(327,647,054)
-
-
-
-
-
Share of loss of associate
22
-
(129,175,128)
(177,483,655)
-
-
-
(Loss)/Profit before tax
(74,801,653)
400,517,945
240,713,475
254,238,613
289,211,743
340,087,597
Tax expense
10
(101,266,632)
(75,994,166)
(37,678,683)
(79,207,295)
(66,566,545)
(37,491,675)
(Loss)/Profit for the year
(176,068,285)
324,523,779
203,034,792
175,031,318
222,645,198
302,595,922
Other comprehensive income to be
reclassified to profit or loss in subsequent
period:
Share of associates other reserves
-
(813,574)
2,122,705
-
-
-
Net gain on available-for-sale investments
1,998,535
1,977,927
-
-
-
-
Exchange differences on translation of
foreign operations
(677,597)
(9,630,208)
527,011
-
-
-
Net gain on hedge of a net investment
-
7,007,543
48,401
-
-
-
Total other comprehensive income to be
reclassified to profit or loss in subsequent
period
1,320,938
(1,458,312)
2,698,117
-
-
-
Total comprehensive (loss)/income for
the year
(174,747,347)
323,065,467
205,732,909
175,031,318
222,645,198
302,595,922
The notes on pages 191 to 307 form an integral part of these financial statements.
Auditors’ report on page 185.
StatementS of profit or loSS and other ComprehenSive inCome
for the year ended 30 June 2015