Financial Statements

For the year ended 31 December 2017

	Note	31 December 2017 AFN ‘000’	31 December 2016 AFN ‘000’
Interest income	21	1,141,357	1,071,271
Interest expense	22	(60,009)	(13,346)
Net interest income		1,081,348	1,057,925
Fee and commission income	23	940,467	788,349
Fee and commission expense	24	(16,601)	(31,492)
Net fee and commission income		923,866	756,857
Income from dealing in foreign currencies		172,609	144,023
		2,177,823	1,958,805
Other income	25	55,964	55,717
Gain (loss)/on sale of securities		36,472	(477)
Reversal/(provision) on placements		52,444	(65,222)
Provision on investments		(64,366)	(1,788)
Provision against loan losses	9.4	48,091	(79,818)
General provision on:
Guarantees	17.2	(65,310)	–
Other assets	14.2	(5,747)	–
Commercial letter of credit	17.2	(2,928)	–
General and administrative expenses	26	(1,586,985)	(1,299,302)
PROFIT BEFORE INCOME TAX		645,458	567,915
Taxation	27	(287,513)	(48,843)
PROFIT FOR THE YEAR		357,945	519,072
OTHER COMPREHENSIVE INCOME
Items that may be classified to profit and loss subsequently
Net changes in fair value of available for sale financial instruments		(15,382)	36,554
Related tax		13,366	(7,215)
Other comprehensive income/(loss), net of tax		(2,016)	29,339
TOTAL COMPREHENSIVE INCOME FOR THE YEAR		355,929	548,411
Earnings per share	30	11.93	17.30

Chief Executive Officer

Chief Financial Officer

Chairman