1 January to 30 September   2000

1 January to 30 September   1999

(US$ million)

OPERATING ACTIVITIES

Net profit for the period

98 

85 

Items not involving cash flow:

     Loan loss provisions

54 

65 

     Depreciation

19 

18 

Items considered separately:

     Gains less losses on investment securities

(11)

(6)

Changes in operating assets and liabilities:

     Trading securities

(285)

25 

     Placements with banks and other financial institutions

(385)

(73)

     Loans and advances

(1123)

(440)

     Other assets

102 

(189)

     Deposits from customers

1494 

173 

     Deposits from banks and other financial institutions

(180)

437 

     Other liabilities

69 

219 

Other non-cash movements

(51)

(389)

Net cash inflow (outflow) from operating activities

(199)

(75)

INVESTING ACTIVITIES  

Purchase of investment securities

(1325)

(593)

Sale of investment securities

1160 

882 

Purchase of investments

(2)

(17)

Sale of investments

47 

30 

Purchase of premises and equipment

(31)

(34)

Sale of premises and equipment

(15)

21 

Net cash (outflow) inflow  from investing activities

(136)

289 

FINANCING ACTIVITIES

(Repayment) issue of certificates of deposit - net

(2)

88 

Issue of term notes, bonds and other term financing

790 

9 

Repayment of term notes, bonds and other term financing

(520)

(232)

Dividend paid

(56)

- 

Net cash (outflow) inflow  from financing activities

212 

(135)

(Decrease) increase in liquid funds

(123)

79 

Foreign exchange translation differences

(71)

(16)

Liquid funds at beginning of the year *

587 

295 

Liquid funds at end of the period *

393 

358 

* Liquid funds comprise cash, nostro balances and balances with central banks.