| Royal Insurance Corporation of Bhutan Limited | ||
| Abridged Audited Financial Statement for the year ended 31/12/2015 | ||
| Income Statement | 31/12/’15 | 31/12/’14 |
| Income | Nu. (Million) | Nu. (Million) |
| Net earned premium | 1,453.032 | 944.696 |
| Net fees & commission income | 184.173 | 88.414 |
| Net interest income | 837.957 | 573.265 |
| Other operating income | 52.284 | 14.386 |
| Total | 2,527.446 | 1,620.761 |
| Expenses | ||
| Net benefits and claims | (1,237.134) | (829.143) |
| Other expenses | (558.975) | (221.235) |
| Total | (1,796.109) | (1,050.378) |
| Profit before tax | 731.337 | 570.383 |
| Income tax expense | (220.690) | (169.093) |
| Profit for the year | 510.647 | 401.290 |
| Statement of Financial Position | 31/12/’15 | 31/12/’14 |
| Assets | Nu. (Million) | Nu. (Million) |
| Property, plant and equipment | 447.398 | 448.762 |
| Investment properties | 357.768 | 357.774 |
| Intangible assets | 26.368 | 28.553 |
| Loans and receivables | 11,521.000 | 9,812.555 |
| Other assets | 969.969 | 768.053 |
| Cash and cash equivalents | 1,882.241 | 916.964 |
| 15,204.744 | 12,332.661 | |
| Equity & Liabilities | ||
| Total equity | 3,068.606 | 2,783.324 |
| Contract liabilities | 4,222.492 | 2,836.542 |
| Debt issued and other borrowed funds | 4,853.624 | 4,248.042 |
| Other liabilities | 3,060.022 | 2,464.753 |
| 15,204.744 | 12,332.661 | |
| 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). | ||
| MANAGEMENT |