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The basic lesson of this approach is that the current system does not raise the cost of capital for all types of investment, but does raise the cost of capital for investment financed from retained profits. This suggests introducing an investment allowance which specifically benefits investment financed by retentions, rather than the blunter implement of an across-the-board increase in investment allowances.
assets and total equity in the ratio to retained profits for the period under review.
With bank interest of pounds 4.84m taken into account - up from pounds 1.4m - and the Sporting Options slice taken off, Betfair's pretax profit was pounds 23.1m, compared with pounds 18.28m, while the retained profit for the year amounted to pounds 17.1m, against pounds 10.5m.
Capital ratios grew on the back of strong retained profit. The Impaired Loan ratio improved further to 7.4 per cent as the bank actively managed its existing stock of impaired loans whilst the Impaired Loan Coverage ratio increased to 109.8 per cent.
In Jan-Sept 2013 the retained profit of Armenia's banks made up 35.3bln AMD or $87mln (21% more than in Q3 2012 and
Bank of Communications will be more reliant on its retained profit to finance its capital base,' Yu Yali said.
The Chamber is a not-for-profit organisation with retained profit being transferred to members' funds, which stood at pounds 2.88m at the year end.
The results - which don't include the pounds 9m for the sale of Alan Hutton to Spurs - also demonstrated a pounds 10m uplift in turnover to pounds 33.1m, while retained profit increased by pounds 3.8m to pounds 2.3m.
Capital Ratios reduced slightly in Q1 as the annual dividend payment more than offset retained profit in the quarter.
The bank will use retained profit to strengthen its core capital and prioritise subordinated debt or hybrid bonds for possible fund-raising in the capital markets, Lin reportedly said at an online roadshow for Everbright Bank's Shanghai IPO.
The group expects to report first-half revenues to June 31 of at least pounds 32.8m and retained profit of more than pounds 2m.