| 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% |
|
Group |
|
Group |
|
|
|
June,2014 |
|
June,2013 |
|
|
|
N million |
|
N million |
|
|
| Gross earnings |
49,591 |
|
56,163 |
|
-11.70% |
| Continuing Operation |
|
|
|
|
|
| Interest Income |
36,634 |
|
41,195 |
|
-11.07% |
| Interest expense |
-11,552 |
|
-11,528 |
|
0.21% |
| Net interest income |
25,082 |
|
29,668 |
|
-15.46% |
| impairment charge for credit
losses |
503 |
|
-240 |
|
-309.58% |
| Net interest
income after impairment charge for credit losses |
25,585 |
|
29,428 |
|
-13.06% |
|
|
|
|
|
|
| Net Fees and commision income |
4,621 |
|
5,850 |
|
-21.01% |
| Net trading income |
681 |
|
1,167 |
|
-41.65% |
| Other operating income |
5,277 |
|
4,451 |
|
18.56% |
| |
10,579 |
|
11,468 |
|
-7.75% |
| Operating income |
36,164 |
|
40,896 |
|
-8.73% |
| Net Impairment loss on other
financial assets |
-177 |
|
-1,402 |
|
-8.73% |
| NOI after net Impairment loss on other
financial assets |
36,047 |
|
39,494 |
|
-8.73% |
| Personal expenses |
-15,098 |
|
-16,721 |
|
-9.71% |
| Depreciation and amortisation |
-1,493 |
|
-1,983 |
|
-24.71% |
| Other operating expenses |
-12,827 |
|
-12,559 |
|
2.13% |
| Exceptional provision longer required |
0 |
|
3,728 |
|
-100.00% |
|
|
|
|
|
|
| Total expense |
-29,418 |
|
-27,536 |
|
6.83% |
|
|
|
|
|
|
| Profit Before Tax from
continuing operations |
6,629 |
|
11,959 |
|
-44.57% |
| Income Tax form continuing operations |
-81 |
|
-598 |
|
-98.57% |
| Profit for the period
continuing operations |
6,548 |
|
11,360 |
|
-42.36% |
|
|
|
|
|
|
| Discontinued operations |
|
|
|
|
|
| Gross income from discontinued
operations |
2,378 |
|
3,500 |
|
-32.06% |
| Gross expense from discontinued
operations |
-2,539 |
|
-5,658 |
|
-55.13% |
|
|
|
|
|
|
| Profit/Loss Before Tax from
discontinued operations |
-161 |
|
-2,158 |
|
-92.54% |
| Income Tax expense from discontinuing
operations |
-44 |
|
191 |
|
-123.04% |
|
|
|
|
|
|
| Profit/Loss for the
period discontinued operations |
-205 |
|
-1,967 |
|
-89.58% |
|
|
|
|
|
|
| Continuing operations and discontinued
operations |
|
|
|
|
|
| Profit Before Tax |
6,468 |
|
9,801 |
|
-34.01% |
| Inome Before Tax |
-125 |
|
-407 |
|
-69.29% |
| Profit after Tax |
6,343 |
|
9,393 |
|
-32.47% |
| Items that are or may be
reclassified to profit or loss: |
|
|
|
|
|
| FOREX translation differences for foreigh
currency operations |
48 |
|
-421 |
|
|
| Fair value gains on property and equipment |
0 |
|
0 |
|
|
| Fair value gains /(losses) on available
-for sale -investment |
324 |
|
180 |
|
80.00% |
| Other comprehensive income
for the period |
372 |
|
-241 |
|
-254.36% |
| Total
comprehensive income for the period |
6,715 |
|
9,152 |
|
-26.63% |
|
|
|
|
|
|
| Profit attributable to: |
|
|
|
|
|
| Equity holder of the bank |
5,924 |
|
10,864 |
|
-45.47% |
| Non-controlling interest |
419 |
|
-1,471 |
|
-128.48% |
| Profit for the Period |
6,343 |
|
9,393 |
|
-32.47% |
|
|
|
|
|
|
| Total comprehensive income
attributable to: |
|
|
|
|
|
| Equity holder of the bank |
6,296 |
|
10,623 |
|
-40.73% |
| Non-controlling interest |
419 |
|
-1,471 |
|
-128.48% |
| Total comprehensive income for
the period |
6,715 |
|
9,152 |
|
-26.63% |
|
|
|
|
|
|
| Earning per share for profit from continuing |
|
|
|
|
|
| Operation attributable to equity holders
bank |
|
|
|
|
|
|
|
|
|
|
|
| Basic and dilute (kabo) |
35 |
|
64 |
|
-45.31% |
|
|
|
|
|
|
| Basic and dilute (kabo) |
39 |
|
64 |
|
-39.06% |
|
|
|
|
|
|
| Source - NSE Website / Union Bank Plc |
|
|
|
|
|
|
|