Abridged Audited Financial Statement

Your Partner for Growth and Security
Royal Insurance Corporation of Bhutan Limited
Abridged Audited Financial Statement  for the year ended 31/12/2015
Income Statement  31/12/’1531/12/’14
IncomeNu. (Million)Nu. (Million)
Net earned premium1,453.032944.696
Net fees & commission income184.17388.414
Net interest income837.957573.265
Other operating income52.28414.386
Net benefits and claims(1,237.134)(829.143)
Other expenses(558.975)(221.235)
Profit before tax731.337570.383
Income tax expense(220.690)(169.093)
Profit for the year510.647401.290
Statement of Financial Position31/12/’1531/12/’14
 AssetsNu. (Million) Nu. (Million)
 Property, plant and equipment447.398448.762
 Investment properties357.768357.774
 Intangible assets26.36828.553
Loans and receivables11,521.0009,812.555
 Other assets969.969768.053
Cash and cash equivalents1,882.241916.964
Equity & Liabilities
Total equity3,068.6062,783.324
Contract liabilities4,222.4922,836.542
Debt issued and other borrowed funds4,853.6244,248.042
Other liabilities3,060.0222,464.753
The above results were adopted at the 41st Annual General Meeting of Shareholders of RICB held on 4th April, 2016.                                                                                           The Financial Statements have been prepared in line with International Financial Reporting Standards (IFRS).