Development Bank of Ethiopia

Fiscal Year 2012 EC (2020/2021 GC)

Unmodified

Revenue

ETB 6.8B

Net Profit

ETB 1.9B

Total Assets

ETB 95.9B

Total Equity

ETB 7.5B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2012 EC

Item	Amount (ETB)
Interest Income and Expense
Interest income calculated using the effective interest method	6,839,977,000
Interest expense calculated using the effective interest method	-2,657,601,000
Net interest income	4,182,375,000
Non-Interest Income
Fee and commission income (net)	270,563,000
Other operating income	424,052,000
Total operating income	4,876,990,000
Impairment Charges
Loan impairment charge	-1,355,014,000
Impairment losses on other assets	-507,056,000
Net operating income / (loss)	3,014,920,000
Operating Expenses
Personnel expenses	-685,690,000
Depreciation of investment property	-8,819,000
Amortization of intangible assets	-10,426,000
Depreciation and impairment of property, plant and equipment	-83,349,000
Depreciation of right-of-use assets	-23,472,000
Interest expense on lease liability	-1,596,000
Other operating expenses	-359,500,000
Profit and Tax
Profit / (Loss) before tax	1,842,068,000
Income tax income/(expense)	27,675,000
Profit / (loss) after tax	1,869,744,000
Other Comprehensive Income (OCI) net of income tax
Remeasurement gain/(loss) on retirement benefits obligations	31,763,000
Net change in fair value of equity investments measured at FVOCI	11,909,000
Deferred tax expense/(income) on remeasurement gain or loss on retirement benefits and change in fair value	-13,101,000
Total other comprehensive income/(loss) for the year (net of tax)	30,570,000
Total comprehensive income/(loss) for the year	1,900,314,000

As at end of FY 2012 EC

Item	Amount (ETB)
Assets
Cash and bank balances	13,277,888,000
Loans and advances to customers	43,265,674,000
Financial assets measured at FVOCI	37,930,000
Financial assets measured at amortized cost	32,354,893,000
Investment in subsidiary	9,999,000
Other assets	5,852,829,000
Rights-of-use-assets	30,397,000
Investment property	210,264,000
Intangible assets	107,889,000
Property, plant and equipment	731,429,000
Total Assets	95,879,192,000
Liabilities
Deposits from customers	729,664,000
Current tax liabilities	200,458,000
Other liabilities	6,691,541,000
Lease liabilities	15,200,000
Debt securities issued	9,435,473,000
Borrowings	70,963,000,000
Retirement benefit obligations	92,097,000
Deferred tax liabilities	219,133,000
Total Liabilities	88,346,567,000
Equity
Capital	7,500,000,000
Legal reserve	643,963,000
Retained earnings	-3,477,325,000
Regulatory credit risk reserve	2,839,613,000
Other reserves	26,375,000
Total equity	7,532,626,000
Total Equity and Liabilities
Total equity and liabilities	95,879,192,000

FY 2012 EC

Item	Amount (ETB)
Operating Activities
Cash generated from operations	-2,803,835,000
Income tax paid	-5,968,000
Retirement benefit paid	-3,247,000
Net cash (outflow)/inflow from operating activities	-2,814,297,000
Investing Activities
Purchase of equity investment	-632,000
Purchase of intangible assets	-111,670,000
Proceeds from sale of property, plant and equipment	787,000
Purchase of property, plant and equipment	-45,654,000
Net cash (outflow)/inflow from investing activities	-157,169,000
Financing Activities
Proceeds from issue of debt securities	619,120,000
Repayment of debt securities	-983,651,000
Proceeds from borrowings	13,974,022,000
Accrued effective interest and rate fluctuation	2,267,804,000
Repayment of borrowings	-7,594,460,000
Repayment of principal portion of lease payments	-11,945,000
Net cash (outflow)/inflow from financing activities	8,270,890,000
Net Change in Cash	5,299,423,000
Closing Cash & Equivalents	13,278,548,000

Extracted from audited financial statements via OCR. Figures in Ethiopian Birr.