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Statement of Income
Page Content
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1 January
to
31 March 1999 |
1 January
to
31 March 1998 |
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(US$ million) |
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OPERATING INCOME |
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Interest income |
371 |
424 |
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Interest expense |
(257) |
322 |
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Net interest income |
114 |
102 |
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Other operating income |
63 |
113 |
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TOTAL OPERATING INCOME |
177 |
215 |
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Provision for losses on loans and advances, net of recoveries |
(19) |
(53) |
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NET OPERATING INCOME AFTER PROVISIONS |
158 |
162 |
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OPERATING EXPENSES |
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Staff |
63 |
65 |
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Premises and equipment |
13 |
13 |
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Other |
28 |
26 |
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Total operating expenses |
104 |
104 |
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PROFIT BEFORE TAXATION AND MINORITY INTERESTS |
54 |
58 |
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Taxation on foreign operations |
(16) |
(11) |
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Minority interests in subsidiaries |
(9) |
(12) |
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NET PROFIT FOR THE PERIOD |
29 |
35 |
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EARNINGS PER SHARE (expressed in US dollars) |
0.31 |
0.37 |
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