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PROFIT
& LOSS ACCOUNT FOR THE YEAR ENDED 31st DECEMBER
2003
| PARTICULARS |
31st
DEC., 2003 |
31st
DEC., 2002 |
| |
Nu. ch |
Nu. ch |
| |
|
|
| Interest on loans |
262,656,910.79 |
195,858,597.01 |
| Interest on bills
& cheques |
70,380.94 |
33,750.50 |
Interest on deposits
with other banks |
44,988,737.96 |
87,183,259.64 |
| Interest on RGOB
&RMA bills and CRR |
52,545,342.50 |
23,783,950.13 |
| Interest
Income |
360,261,372.19 |
306,859,557.28 |
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|
|
| Interest on saving
deposits |
18,198,303.18 |
17,191,140.57 |
| Interest on fixed
deposits |
171,574,125.99 |
181,516,572.36 |
| Interest on recurring
deposits |
130,225.27 |
188,046.20 |
| Interest on fixed term units |
12,928.02 |
1,280,894.25 |
| Interest on miscellaneous
accomodations |
815,501.79 |
0.00 |
| Interest Expenses |
190,731,084.25 |
200,176,653.38 |
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|
|
| Interest Differential |
169,530,287.94 |
106,682,903.90 |
| Exchange, commissions,
& recoveries |
24,611,677.50 |
18,315,427.05 |
| Dividends (Gross) |
3,679,170.00 |
1,138,430.00 |
| Forex gains |
15,163,356.72 |
13,780,261.30 |
| Surpluses on disposal
of assets |
0.00 |
420,000.00 |
| Rents & other
receipts |
11,482,829.94 |
3,306,207.69 |
| Other Income |
24,610,320.72 |
36,960,326.04 |
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| Gross Operating
Income |
194,140,608.66 |
143,643,229.94 |
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|
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| Employment costs |
28,587,451.85 |
27,484,071.26 |
| Establishment
overheads |
11,790,474.48 |
6,352,201.57 |
| Communication
costs |
3,710,306.00 |
3,379,006.50 |
| Travelling expenses |
2,596,486.85 |
2,489,339.70 |
| Vehicles expenses |
563,801.84 |
396,651.16 |
| Computer running
& maintenances |
2,087,762.50 |
2,996,325.64 |
| Advertisements
& publicity |
753,973.50 |
759,092.80 |
| Entertainments |
265,228.80 |
136,746.00 |
| Gifts |
173,798.00 |
101,677.00 |
| Donations |
350,000.00 |
265,000.00 |
| HRD costs |
7,055,705.49 |
6,922,424.70 |
| Audit fees |
120,000.00 |
120,000.00 |
| Legal & listing
expenses |
235,104.00 |
93,550.00 |
| Board meetings
expenses |
274,908.00 |
217,533.00 |
| Other banks charges |
884,872.03 |
851,785.90 |
| Corporate Tax |
1,718,642.42 |
0.00 |
| Miscellaneous
expenses |
1,057,268.22 |
1,566,794.85 |
| Deprication |
9,409,382.37 |
5,976,479.42 |
| Operating Expenses |
71,635,166.35 |
60,108,679.50 |
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Net Operating
Income
(carried forward) |
122,505,442.31 |
83,534,550.44 |
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