| A | B | C | D | E | F | G | H | I | |
|---|---|---|---|---|---|---|---|---|---|
1 | THE GROUP | THE BANK | |||||||
2 | 2020 | 2019 | 2018 | 2020 | 2019 | 2018 | |||
3 | Notes | MUR'000 | MUR'000 | MUR'000 | MUR'000 | MUR'000 | MUR'000 | ||
4 | |||||||||
5 | Interest income | 4(a) | 3,114,028 | 3,169,022 | 2,405,712 | 3,114,028 | 3,169,047 | 2,405,556 | |
6 | Interest expense | 4(b) | (1,085,830) | (858,407) | (699,391) | (1,085,786) | (858,274) | (695,565) | |
7 | Net interest income, calculated using EIR method | 2,028,198 | 2,310,615 | 1,706,321 | 2,028,242 | 2,310,773 | 1,709,991 | ||
8 | Fee and commission income | 5(a) | 804,205 | 767,392 | 739,778 | 764,389 | 718,151 | 649,327 | |
9 | Fee and commission expense | 5(b) | (299,904) | (293,084) | (309,428) | (297,492) | (291,379) | (306,402) | |
10 | Net fee and commission income | 504,301 | 474,308 | 430,350 | 466,897 | 426,772 | 342,925 | ||
11 | Net (loss)/gain from derecognition of financial assets measured at amortised cost | 6 | (2,003) | 23,927 | - | (2,003) | 23,927 | - | |
12 | Net trading income | 7(a) | 616,554 | 228,862 | 142,122 | 616,554 | 228,862 | 142,122 | |
13 | Net (loss)/ gain from derecognition of financial assets measured at fair value through other comprehensive income | 7(b) | (3,046) | 98 | 34,582 | (3,046) | 98 | 34,582 | |
14 | Net gain from foreign exchange and derivatives | 7(c) | 675,795 | 684,180 | 642,260 | 685,796 | 687,941 | 640,063 | |
15 | Other operating income | 7(d) | 30,026 | 5,598 | 27,707 | 22,714 | 15,118 | 32,977 | |
16 | Total operating income | 3,849,825 | 3,727,588 | 2,983,342 | 3,815,154 | 3,693,491 | 2,902,660 | ||
17 | Net impairment loss on financial assets | 8 | (839,155) | (468,315) | (1,067,581) | (839,095) | (468,380) | (1,067,581) | |
18 | Net operating income | 3,010,670 | 3,259,273 | 1,915,761 | 2,976,059 | 3,225,111 | 1,835,079 | ||
19 | Personnel expenses | 9 | (751,396) | (685,120) | (570,135) | (718,079) | (646,296) | (529,664) | |
20 | Depreciation of property and equipment | 19 | (36,153) | (37,726) | (35,608) | (35,713) | (36,361) | (34,370) | |
21 | Depreciation of right of use assets | 21 | (31,735) | - | - | (31,735) | - | - | |
22 | Amortisation of intangible assets | 20 | (40,934) | (72,014) | (37,310) | (40,923) | (38,586) | (27,005) | |
23 | Other operating expenses | 10 | (460,142) | (405,502) | (351,378) | (448,226) | (387,303) | (336,362) | |
24 | Total operating expenses | (1,320,360) | (1,200,362) | (994,431) | (1,274,676) | (1,108,546) | (927,401) | ||
25 | Operating profit | 1,690,310 | 2,058,911 | 921,330 | 1,701,383 | 2,116,565 | 907,678 | ||
26 | Impairment loss on investment in subsidiary | 18 | - | - | - | - | (189,563) | - | |
27 | Impairment loss on receivable from subsidary | 22 | - | - | - | (33,057) | (103,000) | - | |
28 | Loss on winding up of subsidiary | 18 | - | (57,210) | (10,353) | - | - | - | |
29 | Impairment loss on goodwill | 20 | - | (134,903) | - | - | - | - | |
30 | Impairment of available-for-sale investment | - | - | - | - | - | - | ||
31 | Profit before tax | 1,690,310 | 1,866,798 | 910,977 | 1,668,326 | 1,824,002 | 907,678 | ||
32 | Tax expense | 11(b) | (147,314) | (238,826) | (148,115) | (146,771) | (239,219) | (141,224) | |
33 | Profit for the year | 1,542,996 | 1,627,972 | 762,862 | 1,521,555 | 1,584,783 | 766,454 | ||
34 | Other comprehensive income/(loss) that may be subsequently reclassified to profit or loss: | ||||||||
35 | Net gain on available-for-sale investments | - | - | 10,722 | - | - | 10,722 | ||
36 | Movement in fair value reserve for debt instrument measured at fair value through other comprehensive income: | ||||||||
37 | - (Losses)/gains arising during the year | (2,880) | 2,047 | - | (2,880) | 2,047 | - | ||
38 | - Reclassification of gains/(losses) included in profit or loss on derecognition | 7(b) | 3,046 | (98) | - | 3,046 | (98) | - | |
39 | - Expected credit losses | (1,074) | 527 | - | (1,074) | 527 | - | ||
40 | Exchange differences on translation of foreign operations | - | - | (523) | - | - | - | ||
41 | Recycling of retranslation reserve on winding up | - | - | 523 | - | - | - | ||
42 | (908) | 2,476 | 10,722 | (908) | 2,476 | 10,722 | |||
43 | Other comprehensive income/(loss) that will not be reclassified to profit or loss: | ||||||||
44 | Remeasurement of retirement benefit obligations | 30 | (20,723) | (10,179) | (11,611) | (21,731) | (9,269) | (11,611) | |
45 | Deferred tax on remeasurement of retirement benefit obligations | 11(d) | 1,268 | 426 | 819 | 1,318 | 381 | 819 | |
46 | Gain on equity instruments designated at fair value through other comprehensive income | 4,995 | 6,205 | - | 1,370 | 1,122 | - | ||
47 | (14,460) | (3,548) | (10,792) | (19,043) | (7,766) | (10,792) | |||
48 | Other comprehensive loss for the year | (15,368) | (1,072) | (70) | (19,951) | (5,290) | (70) | ||
49 | Total comprehensive income for the year attributable to equity holders of the parent | 1,527,628 | 1,626,900 | 762,792 | 1,501,604 | 1,579,493 | 766,384 | ||
50 | |||||||||
51 | The notes on pages 11 to 122 form an integral part of these financial statements. | ||||||||
52 |