2000

1999

(US$ million)       

OPERATING INCOME

Interest income

1673 

1472 

Interest expense

(1240)

(1038)

Net interest income

433 

434 

Other operating income

280 

256 

TOTAL OPERATING INCOME

713 

690 

Provision for losses on loans and advances, net of recoveries

(66)

(97)

NET OPERATING INCOME AFTER PROVISIONS

647 

593 

OPERATING EXPENSES

Staff

281 

265 

Premises and equipment

54 

54 

Other

116 

110 

Total operating expenses

451 

429 

PROFIT BEFORE TAXATION AND MINORITY INTERESTS

196 

164 

Taxation on foreign operations

(33)

(31)

Minority interests in subsidiaries

(36)

(21)

NET PROFIT FOR THE PERIOD

127 

112 

EARNINGS PER SHARE (expressed in US dollars)

1.35 

1.19