Development Bank of Ethiopia

Fiscal Year 2014 EC (2022/2023 GC)

Unmodified

Revenue

ETB 7.3B

Net Profit

ETB 3.4B

Total Assets

ETB 127.3B

Total Equity

ETB 35.4B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2014 EC

Item	Amount (ETB)
Interest Income and Expense
Interest income calculated using the effective interest method	7,282,356,000
Interest expense calculated using the effective interest method	-3,119,783,000
Net interest income	4,162,573,000
Fee and Commission Income
Fee and commission income	378,961,000
Fee and commission expense	-3,334,000
Net fee and commission income	375,627,000
Operating Income
Other operating income	504,497,000
Total operating income	5,042,697,000
Impairment
Loan impairment reversal/(charge)	-499,221,000
Other assets impairment reversal/(charge)	755,467,000
Net operating income/(loss)	5,298,943,000
Operating Expenses
Personnel expenses	-1,153,434,000
Depreciation of investment property	-3,000
Amortization of intangible assets	-17,647,000
Depreciation and impairment of property, plant and equipment	-98,840,000
Depreciation of right-of-use assets	-26,296,000
Interest expense on lease liability	-2,968,000
Other operating expenses	-573,555,000
Profit and Tax
Profit/(Loss) before tax	3,426,199,000
Income tax income/(expense)	-15,433,000
Profit/(loss) after tax	3,410,767,000
Other Comprehensive Income (OCI), Net of Income Tax
Remeasurement gain/(loss) on retirement benefits obligations	16,307,000
Net change in fair value of equity investments measured at FVOCI	6,664,000
Income tax related to the above	-6,891,000
Total other comprehensive income/(loss) for the year, net of tax	16,080,000
Total comprehensive income/(loss) for the year	3,426,846,000

As at end of FY 2014 EC

Item	Amount (ETB)
Assets
Cash and bank balances	12,864,983,000
Loans and advances to customers	53,960,766,000
Investment securities - Financial assets measured at FVOCI	52,531,000
Investment securities - Financial assets measured at amortized cost	45,983,126,000
Deferred day one loss on investment securities	8,206,923,000
Investment in subsidiary	9,999,000
Other assets	5,221,032,000
Rights-of-use-assets	52,307,000
Investment property	149,000
Intangible assets	58,777,000
Property, plant and equipment	916,635,000
Total Assets	127,327,227,000
Liabilities
Deposits from customers	656,568,000
Current tax liabilities	31,182,000
Other liabilities	4,791,539,000
Lease liabilities	33,238,000
Debt securities issued	20,896,751,000
Borrowings	65,128,490,000
Retirement benefit obligations	184,159,000
Deferred tax liabilities	179,156,000
Total Liabilities	91,901,083,000
Equity
Capital	28,520,000,000
Legal reserve	2,448,605,000
Accumulated profit/(loss)	623,188,000
Regulatory credit risk reserve	3,836,285,000
Other reserves	-1,934,000
Total equity attributable to owner of the Bank	35,426,144,000
Total Equity and Liabilities
Total equity and liabilities	127,327,227,000

FY 2014 EC

Item	Amount (ETB)
Operating Activities
Cash generated from operations	-1,034,172,000
Defined benefits paid	-11,602,000
(Realized) gain on foreign exchange dealing and fluctuation on cash & cash equivalents	574,016,000
Income tax paid	-986,362,000
Net cash (outflow)/inflow from operating activities	-1,458,120,000
Investing Activities
Purchase of intangible assets	-1,559,000
Proceeds from sale of property, plant and equipment	269,000
Purchase of property, plant and equipment	-83,940,000
Net cash (outflow)/inflow from investing activities	-85,230,000
Financing Activities
Proceeds from issue of debt securities	11,277,399,000
Repayment of debt securities	-1,749,555,000
Proceeds from borrowings	4,496,184,000
Repayment of principal borrowings	-12,531,337,000
Repayment of principal portion of lease payments	-11,932,000
Net cash (outflow)/inflow from financing activities	1,480,759,000
Net Change in Cash	-62,591,000
Closing Cash & Equivalents	12,865,624,000

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