- Other income Other income totaled BAHT 267.65 million, rising BAHT 25.28 million or 10.43% from BAHT 242.37 million in 2012, due to an increase in gains on investments and dividend income. Other operating expenses In 2013, total other operating expenses was BAHT 1,689.03 million, up BAHT 380.38 million or 29.07% from BAHT 1,308.65 million in 2012. It was mainly from an increase in the subsidiaries’ employee’s expenses for business expansion and expenses related premises and equipment expenses following outlet expansion from 65 branches at the end of 2012 to 100 branches at the end of 2013. Table: Other operating expenses
Other operating expenses Employees’ expenses Directors’ remuneration Premises and equipment expenses Tax and duties Advertising and promotion expenses Amortization and Intangible assets Other expenses Total other operating expenses Total operating expenses to total operating income ratio
Consolidated Financial Statements Change (2013 compared to 2012) 31 December 31 December 31 December Addition (Reduction) 2013 2012 2011 Amount Amount Amount Amount Ratio (Million Baht) (Million Baht) (Million Baht) (Million Baht) (%) 767.73 9.53 512.91 172.31 81.69 57.17 87.69 1,689.03 50.95%
606.28 8.19 381.25 126.71 62.39 44.08 79.75 1,308.65 52.68%
463.65 7.16 273.44 82.25 40.20 31.39 59.44 957.53 51.07%
161.45 1.34 131.66 45.60 19.30 13.09 7.94 380.38 -
26.63 16.36 34.53 35.99 30.93 29.70 9.96 29.07 -
- Personnel expenses Employees’ expenses were BAHT 767.73 million, up BAHT 161.45 million or 26.63% from BAHT 606.28 million in 2012, resulting from an increase in salary, annual bonus and the number of employees for business expansion. As at 31 December 2013, the Company had 1 employee and its subsidiaries had 1,334 employees, up 177 employees compared to 1,157 employees in 2012, mainly due to an increase in the number of branches.
The number of employee Note Company/1 Bank/2
31 December 2013 Bank /2 Company/1 1 1,334
31 December 2012 Company /1 Bank /2 1 1,157
31 December 2011 Company/1 Bank/2 2 934
LH Financial Group Public Company Limited Land and Houses Bank Public Company Limited
ANNUAL REPORT 2013
67