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How is the amount of loot calculated at the end of each battle, is it based on the number of kills? In which case when victory is announced should I be continuing the battle and chasing down as many of the routing enemy as possible?

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  • You should in most cases try to chase down routing units at the end of a battle because if a small fraction (10%?) of the unit is still alive, the unit won't be disbanded, you then have to attack a second (or more) time to finish the enemy. Not relevant in quest and siege battles where all defenders die if the battle is won. Note that the Undead will raise back some of their losses even in case of defeat.
    – Autar
    Jun 1, 2016 at 11:51

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It is calculated on the number of kill and your casualties.
More kills means more money and also if you get less kills you'll get a few money because your people don't die which means you don't need to wait more time to recruit or wait to get full health-points (HP).

Also I recommended, when you won a battle and you know you can chase them and totally kill them, to pick the option "rescue of captives" or "release captives". You will get money and then you can chase their army again and then choose, if you want, extra leadership for a few turns or less money than before. I recommend choose the first if you want to fight more in the next turns.

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