1 April to
30 June 2001

1 January to
30 June 2000

(US$ million)

2001

2000

2001

2000

OPERATING INCOME

Interest income

399 

402 

821 

788 

Interest expense

(281)

(297)

(588)

(578)

Net interest income

118 

105 

233 

210 

Other operating income

83 

77 

154 

152 

TOTAL OPERATING INCOME

201 

182 

387 

362 

Provision for losses on loans and advances, net of recoveries

(19)

(19)

(34)

(39)

NET OPERATING INCOME AFTER PROVISIONS

182 

163 

353 

323 

OPERATING EXPENSES

Staff

77 

72 

145 

139 

Premises and equipment

15 

14 

29 

27 

Other

27 

26 

54 

52 

Total operating expenses

119 

112 

228 

218 

PROFIT BEFORE TAXATION AND MINORITY INTERESTS

63 

51 

125 

105 

Taxation on foreign operations

(15)

(9)

(31)

(20)

Minority interests in subsidiaries

(10)

(8)

(20)

(18)

NET PROFIT FOR THE PERIOD

38 

34 

74 

67 

EARNINGS PER SHARE (expressed in US dollars)

0.40 

0.36 

0.78

0.71