profit and loss account for 1976
1976 1975
Interest mortgage loans 225,805,000 f 191,376,000
Interest securities, cash
loans, etc. 5,282,000 4,537,000
Commission and compensation
for accelerated redemption 16,120,000 10,742,000
247,207,000
Interest moneys raised f 183,735,000
Current account interest of
affiliated banks 4,459,000
Costs involved in moneys raised 3,331,000
Provision for loss of interest 3,000,000 Z194,525,000
f 206,655,000
f 154,846,000
2.675.000
3.595.000
161,116,000
f 52,682,000
General expenses f 10,310,000
Depreciation 501,000
Past service pensions 3,000,000 13,811,000
f 45,539,000
f 10,934,000
500,000
3,000,000 1 4,434,000
Gross result 38,871,000
Gross result of participations 11,719,000
f 31,105,000
12,916,000
Profit balance before company
income tax f 50,590,000
f 44,021,000
Company income tax f 22,959,000
Added to reserve for general
contingencies 3,104,000 26,063,000
f 19,542,000
2,644,000 22,186,000
Net Group profit f 24,527,000
Retained in participations 5,725,000
f 21,835,000
6,525,000
Profit available f 18,802,000
15,310,000
Appropriation of profit (in con
formity with Article 36 of the
Articles of Association):
Addition to open reserves f 14,000,000
Distribution of profit 4,802,000
f 11,000,000
4,310,000
f 18,802,000
f 15,310,000
46