Three months
1 July to
30 September

Nine months
1 January to
30 September

(US$ million)

1999

1998

1999

1998

OPERATING INCOME

Interest income

370 

437 

1091 

1291 

Interest expense

(265)

(334)

(761)

(983)

Net interest income

105 

103 

330 

308 

Other operating income

55 

80 

183 

265 

TOTAL OPERATING INCOME

160 

183 

513 

573 

Provision for losses on loans and advances, net of recoveries

(17)

(45)

(65)

(136)

NET OPERATING INCOME AFTER PROVISIONS

143 

138 

448 

437 

OPERATING EXPENSES

Staff

70 

65 

194 

193 

Premises and equipment

13 

13 

39 

40 

Other

24 

27 

79 

76 

Total operating expenses

107 

105 

312 

309 

PROFIT BEFORE TAXATION AND MINORITY INTERESTS

36 

33 

136 

128 

Taxation on foreign operations

(5)

(13)

(28)

(36)

Minority interests in subsidiaries

(6)

(6)

(23)

(29)

NET PROFIT FOR THE PERIOD

25 

14 

85 

63 

EARNINGS PER SHARE (expressed in US dollars)

0.27 

0.15 

0.90 

0.67