Page 36 - Ecobank Gambia Annual Report 2020
P. 36
Financial Statements & Annual Report
Statement of Profit or Loss
for the year ended 31 December 2020 (in Thousands of Gambian Dalasis)
Note 2020 2019
Interest income 11.13 526,520 452,030
Interest expense 11.13 ( 77,205) ( 91,071)Net
Net interest income 449,315 360,959
Fee and commission income 11.14 241,810 300,938
Fee and commission expense 11.14 ( 2,677) ( 3,948)
239,133 296,990
Net trading income 11.15 192,402 144,173
Other operating income 11.16 18,978 1,837
Operating profit before impairment losses and taxation 899,829 803,959
IImpairment losses on :
- loans and advances 11.26 ( 12,954) 3,353
( 236) ( 23,768)
Write-off on Overdrawn Accounts 11.26 ( 20,415)
( 13,190) 783,544
Impairment losses on financial assets 11.26 886,639 ( 115,554)
( 148,607) ( 26,478)
Operating income after impairment loss ( 28,620) ( 233,059)
( 221,763) ( 375,092)
Personnel Expenses 11.17 ( 398,990) 408,452
487,649 ( 119,648)
Depreciation and Amortisation 11.29/30 ( 137,896) 288,804
349,753
Other operating expenses 11.18
Operating expenses
Profit before income tax
Taxation 11.19
Profit for the year
The notes are an integral part of these financial statements. www.ecobank.com
34 Ecobank Gambia Annual Report 2020
