Page 80 - 86395_CCB - 2024 Annual Report (web)

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FINANCIAL STATEMENTS

Income Statement and Statement of Comprehensive Income

For the year ended 31 December 2024

Income Statement

£’000 Note 2024 2023

Interest income calculated using the effective interest rate 6 128,313 116,023
Interest expense 6 (54,838) (40,172)

Net interest income 73,475 75,851

Other income 7 126 553
Total operating income 73,601 76,404

Administrative expenses 9 (31,772) (27,287)
Depreciation and amortisation 18,19 (1,077) (944)

Operating profit before impairment losses 40,752 48,173

Impairment losses on loans and advances to customers 16 (4,932) (7,263)
Profit before tax 35,820 40,910

Taxation charge 12 (8,157) (9,620)
Profit after tax 27,663 31,290

Statement of Comprehensive Income

£’000 Note 2024 2023
Other comprehensive income

Items that are or may be reclassified subsequently to the income
statement

Fair value through other comprehensive income

Fair value movements taken to reserves 27 150 1,111
Taxation 27 (48) (278)

Total other comprehensive income, net of tax 102 833

Total comprehensive income attributable to owners of the Bank 27,765 32,123

All profit for the year arises from continuing operations.
The Notes on pages 86 to 123 are an integral part of these Financial Statements.