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Statement of Income
Page Content
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1 January to 30 June 1999 |
1 January to 30 June 1998 |
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(US$ million) |
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OPERATING INCOME |
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Interest income |
721 |
854 |
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Interest expense |
(496) |
(649) |
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Net interest income |
225 |
205 |
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Other operating income |
128 |
185 |
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TOTAL OPERATING INCOME |
353 |
390 |
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Provision for losses on loans and advances, net of recoveries |
(48) |
(91) |
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NET OPERATING INCOME AFTER PROVISIONS |
305 |
299 |
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OPERATING EXPENSES |
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Staff |
124 |
128 |
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Premises and equipment |
26 |
27 |
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Other |
55 |
49 |
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Total operating expenses |
205 |
204 |
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PROFIT BEFORE TAXATION AND MINORITY INTERESTS |
100 |
95 |
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Taxation on foreign operations |
(23) |
(23) |
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Minority interests in subsidiaries |
(17) |
(23) |
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NET PROFIT FOR THE PERIOD |
60 |
49 |
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EARNINGS PER SHARE (expressed in US dollars) |
0.64 |
0.52 |
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