INCOME STATEMENT


Statement of Comprehensive Income Group
Dec.2013
Restated 2012 %CHNG
for the year ended December 31 2014    
     
  N million N million
Gross earnings 121,399 117,212 3.57%
Continuing Operations:    
Interest income 80,997 85,389 -5.14%
Interest expense (23,576) (22,594) 4.35%
Net interest income 57,421 62,795 -8.56%
Impairment charge for credit losses (12,066) (1,549) 678.95%
Net interest income after impairment charge for credit losses 45,355 61,246 -25.95%
Net fee and commission income 9,189 9,398 -2.22%
Net trading income (303) 697 -143.47%
Net income from other financial    
instruments carried at fair value - -
Other operating income 15,596 6,189 152.00%
Underwriting profit - -
  24,482 16,284 50.34%
Operating income 69,837 77,530 -9.92%
Net impairment loss on other financial assets (4,736) (218) 2072.48%
Net operating income after net impairment loss on other
financial assets
65,101 77,312 -15.79%
Personnel expenses (39,652) (42,560) -6.83%
Depreciation and amortisation (3,122) (4,284) -27.12%
Other operating expenses (17,182) (26,160) -34.32%
Total expenses (59,956) (73,004) -17.87%
Share of profit of equity accounted investee (4) 34 -111.76%
Profit before income tax from continuing operations 5,141 4,342 18.40%
Income tax expense from continuing operations 933 (391) -338.62%
Profit for the year from continuing operations 6,074 3,951 53.73%
Discontinued operations    
Gross income from discontinued operations 15,924 15,505 2.70%
Gross expense from discontinued operations (17,296) (16,975) 1.89%
Loss before tax from discontinued operations (1,372) (1,470) -6.67%
Income tax expense from discontinued operations (866) (1,294) -33.08%
Loss for the year from discontinued operations (2,238) (2,764) -19.03%
Continuing and discontinued operations:    
Profit before tax 3,769 2,872 31.23%
Income tax 67 (1,685) -103.98%



Profit after tax


3,836 1,187 223.17%
 
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