|
|
Statement of Income
Page Content
|
US$ MILLION Three months ended 31 March |
|
|
|
2004 |
2003* Restated |
2003** Restated |
OPERATING INCOME |
Interest income |
115 |
148 |
275 |
Interest expense |
(81) |
(102) |
(159) |
|
|
Net interest income |
(81) |
46 |
116 |
Other operating income |
43 |
42 |
95 |
TOTAL OPERATING INCOME |
77 |
88 |
211 |
Provision for losses on loans and advances, net of recoveries |
77 |
(6) |
(23) |
|
|
NET OPERATING INCOME AFTER PROVISIONS |
70 |
82 |
188 |
|
|
|
|
|
|
OPERATING EXPENSES |
|
|
|
Staff |
27 |
29 |
72 |
Premises and equipment |
6 |
6 |
16 |
Other |
13 |
10 |
30 |
|
|
Total operating expenses |
46 |
45 |
118 |
|
|
|
|
|
|
PROFIT BEFORE TAXATION AND MINORITY INTERESTS |
24 |
37 |
70 |
|
|
|
|
Taxation on foreign operations |
(4) |
(6) |
(14) |
Minority interests in subsidiaries |
2 |
(2) |
(11) |
|
|
|
|
|
|
NET PROFIT FROM CONTINUING OPERATIONS |
22 |
29 |
|
|
|
Discontinued operations (subsidiaries sold in 2004) |
|
|
|
Profit from discontinued operations - net of tax 2004: US$ 303 million; 2003: US$ 8 million |
455 |
25 |
|
Minority interests |
-- |
(9) |
|
|
|
|
|
|
|
NET PROFIT FROM DISCOUNTINUED OPERATIONS |
455 |
16 |
|
|
|
|
|
|
|
NET PROFIT FOR THE PERIOD |
477 |
45 |
45 |
|
|
EARNINGS PER SHARE (expressed in US dollars) |
5.07 |
0.48 |
|
|
|
* 2003 comparatives split between continuing and discontinued operations (the subsidiaries sold in 2004). ** 2003 comparatives incorporating the results of the subsidiaries sold in 2004
The above Consolidated Statement of Income 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. |
|
|
|
|
|
|
Virtual Annual General Meeting and Extraordinary General Meeting MORE |
| Bank ABC Announces 2020 Results MORE |
| Bank ABC enters agreement to acquire Blom Bank Egypt MORE |
|
|
|
|
|
|
|
|