Income Statement for XacBank


		2007	2008	2009	2010
Start date		2007-01-01	2008-01-01	2009-01-01	2010-01-01
As of date		2007-12-31	2008-12-31	2009-12-31	2010-12-31
Currency		USD	USD	USD	USD
Financial revenue		17,730,561	27,570,484	28,080,814	44,544,144
Interest and fee income		16,953,050	27,056,251	29,008,083	43,317,706
Revenue from interest		16,111,079	25,305,581	27,114,516	42,546,216
+ Interest income on loan portfolio		15,589,446	24,282,567	25,655,567	39,516,761
+ Products (credit)
Retail loans	—	—	—	—	—
Interest income from investments		521,633	1,023,014	1,458,949	3,029,454
Other interest income		—	—	—	—
Fee and commission income		841,972	1,750,670	1,893,567	771,491
Fee and commission income on loan portfolio		841,972	1,087,837	1,412,571	286,831
Income from penalty fees on loan portfolio		—	552	512	—
Fee and commission income from other financial services		—	662,281	339,199	431,112
Other fee and commission income		—	—	141,285	53,547
Other operating income		777,511	115,876	173,900	443,293
Gains (losses) on exchange differences on translation recognised in profit or loss		—	251,629	-1,101,169	763,935
Gains (losses) on disposals of property, plant and equipment		—	—	—	19,210
Gains (losses) on financial assets		—	—	—	—
Gains (losses) on financial liabilities at fair value through profit or loss		—	—	—	—
Gains (losses) on held-to-maturity investments		—	—	—	—
Gains (losses) on loans and receivables		—	—	—	—
Gains (losses) on available-for-sale financial assets		—	146,727	—	—
Gains (losses) on financial liabilities at amortised cost		—	—	—	—
Gains (losses) on net monetary position		—	—	—	—
Financial expense		7,469,864	12,713,387	14,911,184	23,210,367
Interest and fee expense		7,401,683	12,705,031	14,902,821	22,999,929
Interest expense		—	12,523,078	14,718,807	22,789,475
Interest expense on borrowings		—	6,142,031	6,701,499	2,531,013
+ Interest expense on deposits		—	6,381,047	8,017,308	19,657,567
+ Products (deposits)
Deposits from corporations	—	—	—	—	—
Deposits from financial institutions	—	—	—	—	—
Retail deposits	—	—	—	—	—
Interest expense on subordinated debt		—	—	—	600,895
Fee expense		—	181,953	184,014	210,455
Fee and commission expense on deposits		—	—	—	—
Fee and commission expense on borrowings		—	181,953	184,014	177,513
Other fee and commission expense		—	—	—	32,942
Other financial expense		68,181	8,356	8,363	210,438
Net impairment loss, gross loan portfolio		291,070	921,222	1,136,079	930,693
Impairment loss (reversal of impairment loss), gross loan portfolio		291,070	921,222	1,136,079	930,693
Recoveries on loans written off		0	0	0	0
Operating expense		7,198,394	10,536,016	9,979,137	14,204,025
Personnel expense		3,261,253	4,905,648	4,970,497	7,015,114
Depreciation and amortisation expense		625,530	862,866	1,235,547	1,573,327
Administrative expense		3,311,611	4,767,501	3,773,093	5,615,585
Net operating income		2,771,233	3,399,859	2,054,415	6,179,849
Non operating income		0	55,545	33,420	0
Net Income before taxes and donations		2,771,233	3,455,405	2,087,835	6,179,849
Tax expense		356,839	737,540	301,407	1,376,354
Net Income after taxes and before donations		2,414,395	2,717,865	1,786,428	4,803,495
Donations		59,105	0	0	0
Net income after taxes and donations		2,473,500	2,717,865	1,786,428	4,803,495

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