Page 147 - Annual Report 2022

85 Banka Kombëtare Tregtare Annual Report 2022

Banka Kombëtare Tregtare Sh.a.
Notes to the Consolidated Financial Statements for the year ended
31 December 2022 (Amounts in USD, unless otherwise stated)

27. 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 loss
on the share capital revaluation for the year ended 31 December 2022 is USD 1,353,623 (year ended 31 December 2021 loss:
USD 16,520,143).

28. Other (expense) / income, net
Other income and expenses are composed as follows:

Year ended Year ended
31 December 2022 31 December 2021
Other income
Dividend income from equity investments 2,795,904 3,685,663
Gain on recovery of written off loans to customers 1,151,425 4,464,043
Income from market value of held-for-trading securities 1,040,371 -
Reversal of provisions on assets acquired through legal process 729,932 814,670
Gain on sale of assets acquired through legal process 348,875 489,057
Gain on sale of property and equipment 215,549 112,006
Income from operating lease 153,283 72,157
Reversal of staff pension fund 12,914 5,451
Reversal of other debtors - 210,517
Sundry 12,757 190,619
6,461,010 10,044,183
Other expense
Write off of loans to customers, net (110,054) (1,567,197)
Provisions on assets acquired through legal process (74,334) (844,489)
Loss on sale or write off of fixed assets and repossessed assets (14,060) (127,422)
Expense from market value of HFT - (2,061,195)
Sundry (429,371) (311,781)
(627,819) (4,912,084)
Other (expense) / income, net 5,833,191 5,132,099
A reconciliation of expenses related to write off of loans to customers is as follows:
Year ended Year ended
31 December 2022 31 December 2021
Write off of loans to customers, gross (894,256) (4,423,578)
Provision reversal of written off loans 784,202 2,856,381
Write off of loans to customers, net (110,054) (1,567,197)

29. Personnel expenses
Personnel expenses are composed as follows:

Year ended Year ended
31 December 2022 31 December 2021
Salaries 18,162,155 17,405,392
Performance bonus 3,440,519 3,306,747
Social insurance 1,895,621 1,832,562
Training 248,327 189,902
Life insurance 254,093 141,699
Other 3,682,705 2,540,633
27,683,420 25,416,935