Financial Statements
Income Statement
| GROUP | Bank | ||||||
| For the year ended December 31, | Note | 2020 Rs. '000 |
2019 Rs. '000 |
Change % |
2020 Rs. '000 |
2019 Rs. '000 |
Change % |
| Gross income | 12 | 151,966,413 | 150,741,129 | 0.81 | 149,711,481 | 148,706,284 | 0.68 |
| Interest income | 13.1 | 124,087,713 | 129,287,743 | (4.02) | 122,330,386 | 127,779,540 | (4.26) |
| Less: Interest expense | 13.2 | 73,218,911 | 80,931,352 | (9.53) | 72,759,045 | 80,571,268 | (9.70) |
| Net interest income | 13 | 50,868,802 | 48,356,391 | 5.20 | 49,571,341 | 47,208,272 | 5.01 |
| Fee and commission income | 14.1 | 11,839,689 | 12,874,966 | (8.04) | 11,268,543 | 12,406,584 | (9.17) |
| Less: Fee and commission expense | 14.2 | 2,018,014 | 2,123,128 | (4.95) | 2,012,138 | 2,117,072 | (4.96) |
| Net fee and commission income | 14 | 9,821,675 | 10,751,838 | (8.65) | 9,256,405 | 10,289,512 | (10.04) |
| Net gains/(losses) from trading | 15 | 1,878,060 | 1,360,833 | 38.01 | 1,878,086 | 1,360,858 | 38.01 |
| Net gains/(losses) from derecognition of financial assets | 16 | 6,390,197 | 1,135,711 | 462.66 | 6,390,197 | 1,135,711 | 462.66 |
| Net other operating income | 17 | 7,770,754 | 6,081,876 | 27.77 | 7,844,269 | 6,023,591 | 30.23 |
| Total operating income | 76,729,488 | 67,686,649 | 13.36 | 74,940,298 | 66,017,944 | 13.52 | |
| Less: Impairment charges and other losses | 18 | 21,419,532 | 11,331,523 | 89.03 | 21,483,698 | 11,061,466 | 94.22 |
| Net operating income | 55,309,956 | 56,355,126 | (1.85) | 53,456,600 | 54,956,478 | (2.73) | |
| Less: Expenses | |||||||
| Personnel expenses | 19 | 14,992,748 | 14,408,914 | 4.05 | 14,563,999 | 14,082,659 | 3.42 |
| Depreciation and amortisation | 20 | 3,102,695 | 2,841,264 | 9.20 | 2,989,031 | 2,754,521 | 8.51 |
| Other operating expenses | 21 | 8,167,170 | 8,875,316 | (7.98) | 7,886,936 | 8,588,456 | (8.17) |
| Total operating expenses | 26,262,613 | 26,125,494 | 0.52 | 25,439,966 | 25,425,636 | 0.06 | |
| Operating profit before taxes on financial services | 29,047,343 | 30,229,632 | (3.91) | 28,016,634 | 29,530,842 | (5.13) | |
| Less: Taxes on financial services | 22 | 4,531,381 | 7,255,728 | (37.55) | 4,505,322 | 7,191,737 | (37.35) |
| Operating profit after taxes on financial services | 24,515,962 | 22,973,904 | 6.71 | 23,511,312 | 22,339,105 | 5.25 | |
| Share of profits of associate, net of tax | 38.1 | 3,898 | 9,992 | (60.99) | - | - | - |
| Profit before tax | 24,519,860 | 22,983,896 | 6.68 | 23,511,312 | 22,339,105 | 5.25 | |
| Less: Income tax expense | 23 | 7,433,063 | 5,563,500 | 33.60 | 7,137,823 | 5,314,138 | 34.32 |
| Profit for the year | 17,086,797 | 17,420,396 | (1.91) | 16,373,489 | 17,024,967 | (3.83) | |
| Profit attributable to: | |||||||
| Equity holders of the Bank | 16,939,950 | 17,263,259 | (1.87) | 16,373,489 | 17,024,967 | (3.83) | |
| Non-controlling interest | 57 | 146,847 | 157,137 | (6.55) | - | - | - |
| Profit for the year | 17,086,797 | 17,420,396 | (1.91) | 16,373,489 | 17,024,967 | (3.83) | |
| Earnings per share | |||||||
| Basic earnings per ordinary share (Rs.) | 24.1 | 15.70 | 16.41 | (4.33) | 15.18 | 16.19 | (6.24) |
| Diluted earnings per ordinary share (Rs.) | 24.1 | 15.70 | 16.41 | (4.33) | 15.18 | 16.19 | (6.24) |
The Notes 1 to 69 form an integral part of these Financial Statements.