Development Bank of Ethiopia

Fiscal Year 2016 EC (2024/2025 GC)

Unmodified

Revenue

ETB 7.0B

Net Profit

ETB 5.3B

Total Assets

ETB 182.1B

Total Equity

ETB 39.8B

Key income statement items

Net cash from each activity

Breakdown of total assets

FY 2016 EC

Item	Amount (ETB)
Interest Income and Expense
Interest income calculated using the effective interest method	12,004,685,000
Interest expense calculated using the effective interest method	-6,838,655,000
Net interest income	5,166,030,000
Non-Interest Income
Fee and commission income	843,492,000
Fee and commission expense	-4,551,000
Net fee and commission income	838,940,000
Other operating income	1,012,526,000
Total operating income	7,017,496,000
Impairment Reversals/(Charges)
Loan impairment reversal/(charge)	1,720,903,000
Other assets impairment reversal/(charge)	192,765,000
Net operating income/(loss)	8,931,163,000
Operating Expenses
Personnel expenses	-2,526,696,000
Depreciation of investment property	-3,000
Amortization of intangible assets	-29,212,000
Depreciation and impairment of property, plant and equipment	-124,738,000
Depreciation of right-of-use assets	-69,929,000
Interest expense on lease liability	-6,728,000
Other operating expenses	-894,401,000
Profit and Tax
Profit/(Loss) before tax	5,279,456,000
Income tax income/(expense)	16,175,000
Profit/(Loss) after tax	5,295,630,000
Other Comprehensive Income
Remeasurement gain/(loss) on retirement benefits obligations	-78,626,000
Net change in fair value of equity investments measured at FVOCI	37,895,000
Income tax related to the above	12,219,000
Total other comprehensive income/(loss) for the year, net of tax	-28,512,000
Total comprehensive income/(loss) for the year	5,267,118,000

As at end of FY 2016 EC

Item	Amount (ETB)
Assets
Cash and bank balances	33,145,305,000
Loans and advances to customers	88,996,376,000
Financial assets measured at FVOCI	154,007,000
Financial assets measured at amortized cost	46,003,057,000
Deferred day one loss on investment securities	6,892,770,000
Investment in subsidiary	9,999,000
Other assets	5,589,927,000
Rights-of-use-assets	190,628,000
Investment property	142,000
Intangible assets	29,815,000
Property, plant and equipment	1,112,057,000
Total Assets	182,124,083,000
Liabilities
Deposits from customers	630,690,000
Current tax liabilities	35,210,000
Other liabilities	10,872,891,000
Lease liabilities	84,886,000
Debt securities issued	53,323,972,000
Borrowings	76,799,750,000
Retirement benefit obligations	432,864,000
Deferred tax liabilities	124,169,000
Total Liabilities	142,304,431,000
Equity
Capital	28,520,000,000
Legal reserve	5,207,709,000
Accumulated profit/(loss)	3,267,882,000
Regulatory credit risk reserve	2,875,839,000
Other reserves	-51,777,000
Total equity attributable to owner of the Bank	39,819,652,000
Total equity	39,819,652,000
Total Liabilities and Equity
Total equity and liabilities	182,124,083,000

FY 2016 EC

Item	Amount (ETB)
Operating Activities
Cash generated from operations	-17,143,453,000
(Realized) gain on foreign exchange dealing and fluctuation on cash & cash equivalents	122,871,000
Income tax paid	-522,045,000
Net cash (outflow)/inflow from operating activities	-17,542,627,000
Investing Activities
Purchase of additional Equity Investment	-12,290,000
State Dividend Paid	-1,679,071,000
Purchase of intangible assets	-17,732,000
Proceeds from sale of property, plant and equipment	22,390,000
Purchase of property, plant and equipment	-283,664,000
Net cash (outflow)/inflow from investing activities	-1,970,367,000
Financing Activities
Proceeds from issue of debt securities	16,145,973,000
Repayment of debt securities	-1,633,186,000
Proceeds from borrowings	9,829,286,000
Repayment of principal borrowings	-4,744,203,000
Repayment of principal portion of lease payments	-23,747,000
Net cash (outflow)/inflow from financing activities	19,574,123,000
Net Change in Cash	61,128,000
Closing Cash & Equivalents	33,147,208,000

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