Development Bank of Ethiopia

Fiscal Year 2015 EC (2023/2024 GC)

Unmodified

Revenue

ETB 8.8B

Net Profit

ETB 5.7B

Total Assets

ETB 160.2B

Total Equity

ETB 37.1B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2015 EC

Item	Amount (ETB)
Interest Income and Expense
Interest income calculated using the effective interest method	11,808,029,000
Interest expense calculated using the effective interest method	-4,200,622,000
Net interest income	7,607,407,000
Non-Interest Income
Fee and commission income	708,910,000
Fee and commission expense	-3,759,000
Net fee and commission income	705,152,000
Other operating income	506,937,000
Total operating income	8,819,496,000
Impairment Reversals
Loan impairment reversal/(charge)	373,604,000
Other assets impairment reversal/(charge)	201,375,000
Net operating income/(loss)	9,394,475,000
Operating Expenses
Personnel expenses	-1,776,496,000
Depreciation of investment property	-3,000
Amortization of intangible assets	-17,483,000
Depreciation and impairment of property, plant and equipment	-112,467,000
Depreciation of right-of-use assets	-42,153,000
Interest expense on lease liability	-3,909,000
Other operating expenses	-978,471,000
Profit and Tax
Profit/(Loss) before tax	6,463,494,000
Income tax income/(expense)	-725,496,000
Profit/(loss) after tax	5,737,998,000
Other Comprehensive Income
Remeasurement gain/(loss) on retirement benefits obligations	-76,000,000
Net change in fair value of equity investments measured at FVOCI	45,526,000
Income tax related to the above	9,142,000
Total other comprehensive income/(loss) for the year, net of tax	-21,332,000
Total comprehensive income/(loss) for the year	5,716,666,000

As at end of FY 2015 EC

Item	Amount (ETB)
Assets
Cash and bank balances	33,085,405,000
Loans and advances to customers	67,646,196,000
Financial assets measured at FVOCI	103,822,000
Financial assets measured at amortized cost	46,456,966,000
Deferred day one loss on investment securities	7,565,882,000
Investment in subsidiary	9,999,000
Other assets	4,104,629,000
Rights-of-use assets	187,452,000
Investment property	145,000
Intangible assets	41,294,000
Property, plant and equipment	953,308,000
Total Assets	160,155,100,000
Liabilities
Deposits from customers	1,557,743,000
Current tax liabilities	523,916,000
Other liabilities	11,304,117,000
Lease liabilities	78,665,000
Debt securities issued	37,393,241,000
Borrowings	71,775,354,000
Retirement benefit obligations	294,968,000
Deferred tax liabilities	157,894,000
Total Liabilities	123,085,898,000
Equity
Capital	28,520,000,000
Legal reserve	3,882,899,000
Accumulated profit/(loss)	1,905,955,000
Regulatory credit risk reserve	2,783,613,000
Other reserves	-23,266,000
Total equity attributable to owner of the Bank	37,069,202,000
Total equity	37,069,202,000
Total Equity and Liabilities
Total equity and liabilities	160,155,100,000

FY 2015 EC

Item	Amount (ETB)
Operating Activities
Cash generated from operations	-1,200,342,000
(Realized) gain on foreign exchange dealing and fluctuation on cash & cash equivalents	449,592,000
Income tax paid	-263,716,000
Net cash (outflow)/inflow from operating activities	-1,014,366,000
Investing Activities
Proceeds from sale of property, plant and equipment	118,000
Purchase of property, plant and equipment	-149,244,000
Net cash (outflow)/inflow from investing activities	-149,125,000
Financing Activities
Proceeds from issue of debt securities	15,854,181,000
Repayment of debt securities	-1,150,759,000
Proceeds from borrowings	7,710,164,000
Repayment of principal borrowings	-1,003,195,000
Repayment of principal portion of lease payments	-14,840,000
Net cash (outflow)/inflow from financing activities	21,395,552,000
Net Change in Cash	20,232,061,000
Closing Cash & Equivalents	33,087,090,000

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