(US$ million)

Three months
1 July to 30 September

Nine months
1 January to 30 September

2003

2002

2003

2002

OPERATING INCOME

Interest income

253 

287 

781 

879 

Interest expense

(147)

(185)

(453)

(542)

Net interest income

106 

102 

328 

337 

Other operating income

91 

81 

277 

205 

TOTAL OPERATING INCOME

197 

183 

605 

542 

Provision for losses on loans and advances, net of recoveries

(26)

(44)

(91)

(90)

NET OPERATING INCOME AFTER PROVISIONS

171 

139 

514 

452 

OPERATING EXPENSES

Staff

77 

71 

231 

207 

Premises and equipment

17 

15 

51 

44 

Other

35 

36 

98 

95 

Total operating expenses

129 

122 

380 

346 

PROFIT BEFORE TAXATION AND MINORITY INTERESTS

42 

17 

134 

106 

Taxation on foreign operations

(13)

(5)

(41)

(29)

Minority interests in subsidiaries

(7)

(8)

(24)

(22)

NET PROFIT FOR THE PERIOD

22 

4 

69 

55 

EARNINGS PER SHARE (expressed in US dollars)

0.23 

0.04 

0.73 

0.58