Consolidated profit and loss account

For the year ended 31 December 2017

(before profit appropriation)

Notes

2017

2016

    

Income

   

Interest income

 

284,622

282,401

Interest expense

 

-84,739

-65,861

Net interest income

(21)

199,883

216,540

Fee and commission income

 

6,723

6,691

Fee and commission expense

 

-712

-547

Net fee and commission income

(22)

6,011

6,144

Dividend income

(23)

36,592

16,819

Results from equity investments

(24)

154,571

39,041

Results from financial transactions

(25)

16,103

-8,779

Remuneration for services rendered

(26)

29,372

28,565

Other operating income

(27)

1,348

1,186

Total other income

 

237,986

76,832

Total income

 

443,880

299,516

    

Operating expenses

   

Staff costs

(28)

-71,559

-63,685

Other administrative expenses

(29)

-23,909

-19,357

Depreciation and impairment of PP&E assets

(10)

-3,154

-2,565

Other operating expenses

(30)

-48

-75

Total operating expenses

 

-98,670

-85,682

    

Value adjustments/ impairments on

   

Loans

(9)

-18,110

38,069

Equity investments and associates

(7), (8)

-46,919

-43,996

Guarantees issued

(9)

3,042

4,920

Total value adjustments

 

-61,987

-1,007

Share in the result of associates

(8)

9,293

6,247

Total result on associates

 

9,293

6,247

Profit before taxation

 

292,516

219,074

Income tax

(31)

-37,281

-42,969

Net profit

 

255,235

176,105

    

Net profit attributable to

   

Owners of the parent company

 

254,117

176,105

Non controlling interest

 

1,118

-

Net profit

 

255,235

176,105