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Development Bank of Mongolia Interim Statement of Comprehensive Income

Period ended 30 June 2013

The accompanying notes are an integral part of these financial statements.

Development Bank of Mongolia Interim Statement of Comprehensive Income


Period ended 30 June 2013 1 January 2013 1 January 2012 to 30 June 2013 to 30 June 2012 40,580,655 (27,655,733) 600,573 (406,668)

In thousands of Mongolian Tugriks Interest income Interest expense

Note 17 18

Net interest income

12,924,922

193,905

Net interest income after provision for loan impairment Gains less losses from trading in foreign currencies Foreign exchange gains less losses Administrative and other operating expenses

12,924,922 770,852 (1,966,848) (2,149,512)

193,905 (2,500,419) (755,243)

19 20

Profit/(loss) before tax Income tax (expenses)/benefit

21

9,579,414 (2,124,726)

(3,061,757) 829,757

Profit/(loss) for the period

7,454,688

(2,232,000)

Total comprehensive income/(loss) for the period

7,454,688

(2,232,000)

The accompanying notes are an integral part of these financial statements.

Development Bank of Mongolia Interim Statement of Changes in Equity


Period ended 30 June 2013

In thousands of Mongolian Tugrik s Balance at 1 January 2012

Note

Share capital

Retained earnings (602,190)

Total equity

16

49,700,000

49,097,810

Loss for the period Total comprehensive loss

(2,232,000) (2,232,000)

(2,232,000) (2,232,000)

Balance at 30 June 2012

16

49,700,000

(2,834,190)

46,865,810

Balance at 1 January 2013

16

73,300,000

(6,308,151)

66,991,849

Profit for the period Total comprehensive income

7,454,688 7,454,688

7,454,688 7,454,688

Balance at 30 June 2013

16

73,300,000

1,146,535

74,446,535

The accompanying notes are an integral part of these financial statements.

Development Bank of Mongolia Interim Statement of Cash Flows


Period ended 30 June 2013 In thousands of Mongolian Tugriks Cash flows from operating activities Profit / (loss) before tax Adjustments to: Depreciation, amortization Interest income Interest expense on borrowings FX (gain)/loss -Unrealized Other non-cash operating expenses 1 January 2013 1 January 2012 to 30 June 2013 to 30 June 2012

9,579,414 84,927 (40,580,655) 27,655,733 1,638,772 233,569

(3,061,757) 75,207 (600,573) 406,668 186,086 114,775

Cash flows from operating activities before changes in operating assets and liabilities Net (increase)/decrease in loans and advances to customers Net (increase)/decrease in other financial assets Net increase/ (decrease) in other financial liabilities

(1,388,240) (616,987,426) 30,917,488 38,701,826

(2,879,594) (27,225,665) (26,133,092) (1,138,514)

Net cash (used in)/from operating activities before tax and interest received and paid Income taxes paid Interest received Interest paid on borrowings

(548,756,352)

(57,376,865)

(686,593) 22,014,073 (24,357,996)

391,657 (738,049)

Net cash (used in)/from operating activities

(551,786,868)

(57,723,257)

The accompanying notes are an integral part of these financial statements.

Development Bank of Mongolia Interim Statement of Cash Flows


Period ended 30 June 2013 In thousands of Mongolian Tugriks Net cash (used in)/from operating activities 1 January 2013 1 January 2012 to 30 June 2013 to 30 June 2012 (551,786,868) (57,723,257)

Cash flows from investing activities Purchase of property, plant, equipment and intangible assets Net cash used in investing activities Cash flows from financing activities Proceeds from borrowings Proceeds from bonds

(297,283) (297,283)

(110,026) (110,026)

433,553,076 147,045,342

769,007,622

Net cash from/(used in) financing activities

580,598,418

769,007,622

Effect of exchange rate changes on cash and cash equivalents

914,183

6,200,770

Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period

29,428,450 216,468,206

717,375,109 75,817,745

Cash and cash equivalents at the end of the period

245,896,656

793,192,854

The accompanying notes are an integral part of these financial statements.