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Statement of Income
Page Content
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Three months ended
31 March |
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2003
(US$ million) |
2002
(US$ million) |
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OPERATING INCOME |
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Interest income |
275 |
291 |
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Interest expense |
(159) |
(172) |
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Net interest income |
116 |
119 |
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Other operating income |
84 |
63 |
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TOTAL OPERATING INCOME |
200 |
182 |
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Provision for losses on loans and advances, net of recoveries |
(30) |
(15) |
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NET OPERATING INCOME AFTER PROVISIONS |
170 |
167 |
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OPERATING EXPENSES |
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Staff |
72 |
68 |
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Premises and equipment |
16 |
14 |
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Other |
30 |
29 |
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Total operating expenses |
118 |
111 |
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PROFIT BEFORE TAXATION AND MINORITY INTERESTS |
52 |
56 |
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Taxation on foreign operations |
(14) |
(13) |
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Minority interests in subsidiaries |
(11) |
(9) |
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NET PROFIT FOR THE PERIOD |
27 |
34 |
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EARNINGS PER SHARE (expressed in US dollars) |
0.29 |
0.36 |
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