Aggregate Operating Earnings (and Net Profits) | Financial Statements | Reserve Bank of Australia Annual Report - 1982

Reserve Bank of Australia Annual Report – 1982 Financial Statements Aggregate Operating Earnings (and Net Profits)

Note 2 Aggregate operating earnings (and net profits)

Aggregate operating earnings in 1981/82 were $552.7 million, some $168.8 million higher than in 1980/81. Details of operating earnings are:

	1981/82 $'000	1980/81 $'000		1981/82 $'000	1980/81 $'000
Interest on deposit liabilities	101,479	96,662	Net earnings on overseas investments	215,117	177,797
Staff costs	78,791	65,923	Interest on Australian government securities	448,771	328,693
Other expenses	25,196	25,123	Interest on loans, advances, etc.	84,485	55,240
Operating earnings	552,662	383,851	Other income	9,755	9,829
	758,128	571,559		758,128	571,559
Amounts written off premises	2,657	1,761	Operating earnings	552,662	383,851
Transfer to Reserves for contingencies and general purposes	107,864	118,454
Net profits	442,141	263,636
	552,662	383,851		552,662	383,851

Net valuation surplus arising from fluctuations in exchange rates (see Note 7) was not included in the above figures but taken to Reserves for contingencies and general purposes (see Note 6). 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.