Page 141 - BKT Annual Report 2023 EN

ANNUAL REPORT 2023 72
Notes to the Consolidated Financial Statements for the year ended 31 December 2023
(amounts in USD, unless otherwise stated)

27. FEES AND COMMISSIONS, NET
Fee and commission revenue and expense are comprised of the following items:

Year ended Year ended
31 December 2023 31 December 2022
Fee and commission income
Electronic banking transactions 15,209,267 10,964,620
Payment services to clients 8,999,534 7,704,236
Customer accounts’ maintenance 6,551,449 5,257,416
Inter-bank transactions 1,874,476 4,357,706
Cash transactions with clients 954,691 849,981
Lending activity 930,839 892,430
Other fees and commissions 570,337 518,912
35,090,593 30,545,301
Fee and commission expense
Inter-bank transactions (1,024,941) (1,177,503)
Payment services to clients 167,021) (138,313)
Customer accounts’ maintenance (82,306) (80,631)
Transactions with clients (29,465) (15,228)
Other fees and commissions (11,596) (2,888)
(1,315,329) (1,414,563)
Fees and commissions, net
33,775,264 29,130,738

28. FOREIGN EXCHANGE REVALUATION GAIN/(LOSS), NET

Foreign exchange revaluation gain/(loss) represents the net revaluation of the Bank’s foreign currency monetary assets and liabilities.
In addition, as described in Note 3(b) it also includes the revaluation of the Bank’s share capital. The revaluation gain on the share
capital revaluation for the year ended 31 December 2023 is USD 39,087,657 (year ended 31 December 2022 loss: USD 1,353,623).

29. OTHER (EXPENSE) / INCOME, NET

Other income and expenses are composed as follows:

Year ended Year ended
31 December 2023 31 December 2022
Other income
Gain on recovery of written off loans to customers 1,592,015 1,151,425
Gain on sale of assets acquired through legal process 876,725 348,875
Reversal of provisions on assets acquired through legal process 560,095 729,932
Dividend income from equity investments 468,267 2,795,904
Income from operating lease 113,019 153,283
Gain on sale of property and equipment 40,699 215,549
Reversal of staff pension fund 26,250 12,914
Income from market value of held-for-trading securities 26,112 1,040,371
Sundry 836,186 12,757
4,539,368 6,461,010
Other expense
Provisions on assets acquired through legal process (1,870,764) (74,334)
Provision of other debtors (1,210,986) -
Loss on sale or write off of fixed assets and repossessed assets (66,160) (14,060)
Write off of loans to customers, net (33,504) (110,054)
Sundry (263,560) (429,371)
(3,444,974) (627,819)
Other (expense) / income, net
1,094,394 5,833,191