CONSOLIDATED INCOME STATEMENT
For the year ended 31 December 2012
Note |
Year ended 31 December 2012 €'000 |
Year ended 31 December 2011 €'000 |
|
|---|---|---|---|
| Interest and fee income | 5 | 1,386,823 | 1,283,248 |
| Interest expense | 6 | (492,502) | (512,449) |
| Net interest income | 894,321 | 770,799 | |
| (Losses) / gains on derivative financial instruments | 7 | (37,939) | 24,312 |
| Net profit on disposal of loans, property assets and surplus income | 8 | 188,227 | 549,578 |
| Total operating income | 1,044,609 | 1,344,689 | |
| Administration expenses | 9 | (119,117) | (128,379) |
| Foreign exchange (losses) / gains | 10 | (99,432) | 61,773 |
| Total operating expenses | (218,549) | (66,606) | |
| Operating profit before impairment | 826,060 | 1,278,083 | |
| Impairment charges on loans and receivables | 11 | (517,841) | (1,266,743) |
| Operating profit after impairment | 308,219 | 11,340 | |
| Tax (charge) / credit | 12 | (76,266) | 235,208 |
| Profit for the year before dividend | 231,953 | 246,548 | |
| Dividend paid | 14 | (3,457) | (5,093) |
| Profit for the year | 228,496 | 241,455 | |
| Profit attributable to: | |||
| Owners of the Group | 228,496 | 241,455 | |
| Non-controlling interests | - | - |
The accompanying notes form an integral part of these consolidated financial statements.
On behalf of the Board
30 April 2013
Brendan McDonagh
Chief Executive Officer
Frank Daly
Chairman