Reserve Bank of Australia Annual Report – 1981 Financial Statements Aggregate Operating Earnings (and Net Profits)

Notes to and forming part of the Financial Statements — 30 June 1981

Note 1 Aggregate operating earnings (and net profits)

Aggregate operating earnings in 1980/81 were $383.9 million, some $109.8 million higher than in 1979/80. Details of operating earnings are:

  1980/81
$'000		 1979/80
$'000		   1980/81
$'000		 1979/80
$'000
Interest paid/accrued on deposit liabilities 96,662 133,423 Net earnings on overseas investments 177,797 121,181
Other expenses* 91,046
 		 77,262
 		 Interest received/accrued on Australian government securities 328,693 305,683
      Interest received/accrued on loans, advances, etc. 55,240 56,370
Operating earnings 383,851 274,081 Other income 9,829 1,532
  571,559 484,766   571,559 484,766
      Operating earnings 383,851 274,081
Amounts written off premises 1,761 1,200      
Transfer to Reserves for contingencies and general purposes 118,454 21,894      
Net profits 263,636 250,987      
  383,851 274,081   383,851 274,081
*Includes staff costs of $65.9 million ($57.3 million in 1979/80)

Net valuation surplus arising from fluctuations in exchange rates (see Note 6) was not included in the above figures but taken to Reserves for contingencies and general purposes (see Note 5). The reduction in the valuation of gold and dealing gains/losses in Commonwealth government securities were also taken direct to Reserves for contingencies and general purposes.