31 March
2004
Unaudited
(US$ million)

31 December
   2003
Audited
(US$ million)

ASSETS

Liquid funds

279 

709 

Trading securities

99 

86 

Non-trading securities

2,325 

5,204 

Placements with banks and other financial institutions

4,655 

6,651 

Loans and advances

5,323 

15,921 

Interest receivable

84 

134 

Investments in associates

25 

51 

Other assets

351 

828 

Premises and equipment

142 

484 

TOTAL ASSETS

13,283 

30,068 

LIABILITIES

Deposits from customers

3,110 

14,434 

Deposits from banks and other financial institutions

5,767 

9,932 

Certificates of deposit

140 

423 

Interest payable

55 

92 

Taxation

329 

69 

Other liabilities

469 

1,171 

TERM NOTES, BONDS AND OTHER TERM FINANCING

1,328 

1,850 

11,198 

27,971 

MINORITY INTERESTS

35 

512 

EQUITY

Share capital

1,000 

1,000 

Treasury stock

(74)

(74)

Reserves and retained earnings

1,124 

659 

2,050 

1,585 

TOTAL LIABILITIES, MINORITY INTERESTS AND EQUITY

 13,283 

30,068 

The above Consolidated Balance Sheet has been extracted from the interim condensed consolidated financial statements of Arab Banking Corporation (B.S.C.) for the period ended 31 March 2004, reviewed by Ernst & Young, Kingdom of Bahrain.