1 January
to
31 March 2001

1 January
to
31 March 2000

(US$ million)       

OPERATING INCOME

Interest income

422 

386 

Interest expense

(307)

(281)

Net interest income

 115 

105 

Other operating income

 71 

75 

TOTAL OPERATING INCOME

186 

180 

Provision for losses on loans and advances, net of recoveries

(15)

(20)

NET OPERATING INCOME AFTER PROVISIONS

171 

160 

OPERATING EXPENSES

Staff

68 

67 

Premises and equipment

14 

13 

Other

27 

26 

Total operating expenses

109 

106 

PROFIT BEFORE TAXATION AND MINORITY INTERESTS

62 

54 

Taxation on foreign operations

(16)

(11)

Minority interests in subsidiaries

(10)

(10)

NET PROFIT FOR THE PERIOD

36 

33 

EARNINGS PER SHARE (expressed in US dollars)

0.38 

0.35