Consolidated Income Statement
| Note | 2014 Group €’000 |
2013 Group €’000 |
|
|---|---|---|---|
| Interest and fee income | 5 | 955,289 | 1,334,716 |
| Interest expense | 6 | (313,174) | (374,511) |
| Net interest income | 642,115 | 960,205 | |
| Other income / (expenses) | 7 | 36,245 | (2,860) |
| (Losses) / gains on derivative financial instruments | 8 | (158,697) | (54,211) |
| Net profit on disposal of loans and property assets; and surplus income | 9 | 284,813 | 505,411 |
| Total operating income | 804,476 | 1,408,545 | |
| Administration expenses | 10 | (135,116) | (121,460) |
| Foreign exchange losses | 11 | (21,634) | (89,336) |
| Total operating expenses | (156,750) | (210,796) | |
| Operating profit before impairment | 647,726 | 1,197,749 | |
| Impairment charges on loans and receivables | 12 | (137,371) | (914,345) |
| Operating profit after impairment | 510,355 | 283,404 | |
| Tax charge | 13 | (52,075) | (69,802) |
| Profit for the year | 458,280 | 213,602 | |
| Profit attributable to: Owners of the Group |
458,280 |
213,602 |
The accompanying notes form an integral part of these consolidated financial statements.
On behalf of the Board
28 April 2015
Brendan McDonagh
Chief Executive Officer
Frank Daly
Chairman