BankMuscat: Leading International Bank in Oman

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Nine Years' Summary of Results
Statement of Income and Retained Earnings

	Amounts in RO'000
	2001	2000	1999	1998	1997	1996	1995	1994	1993

Statement of Income

Interest income

108,766

114,622

62,641

57,984

43,287

30,207

25,649

20,798

19,215

Interest expense

59,075

67,075

36,402

34,552

23,063

15,674

12,694

9,396

9,792

Net interest income

49,691

47,547

26,239

23,432

20,224

14,533

12,955

11,402

9,423

Other operating income

12,190

10,170

6,251

5,889

5,715

3,461

3,081

2,004

1,982

Net Operating Income

61,881

57,717

32,490

29,321

25,939

17,994

16,036

13,406

11,405

Operating Expenses

Other operating expenses

24,990

25,973

12,628

12,131

10,530

8,996

7,502

6,754

5,607

Depreciation and amortisation

2,390

2,846

1,331

1,224

1,069

1,009

892

808

803

27,380

28,819

13,959

13,355

11,599

10,005

8,394

7,562

6,410

Provision for decline in the value of investment securities other than
temporary

318

1,563

1,090

300

Provision for capital guarantee

339

335

Provision towards government assistance
programme of brokerage companies

1,993

Provision for collateral pending sale

1,129

Provision for possible credit losses

23,536

10,047

3,553

2,634

1,812

422

1,565

754

1,785

52,702

42,757

18,602

16,289

13,411

10,427

9,959

8,316

8,195

Profit Before Discontinuing
Operations

9,179

14,960

13,888

13,032

12,528

7,567

6,077

5,090

3,210

Net gain from discontinuing operations

3,500

Net Profit Before Taxation

9,179

18,460

13,888

13,032

12,528

7,567

6,077

5,090

3,210

Taxation

1,424

2,193

1,833

228

Net Profit for the year

7,755

16,267

12,055

13,032

12,528

7,339

6,077

5,090

3,210

Statement of Retained Earnings

Retained earnings at 1 January

10,127

4,546

3,447

1,703

1,609

586

400

662

Retained earnings -

Commercial Bank of Oman

4,327

Adjustment arising from the application of IAS 39

(7,172)

Net Profit for the year

7,755

16,267

12,055

13,032

12,528

7,339

6,077

5,090

3,210

Transfer to legal reserve

(1,252)

(734)

(607)

(509)

(321)

Directors' remuneration

(195)

(182)

(82)

(84)

(66)

Transfer to general reserve

(2,000)

(1,000)

(500)

(550)

(450)

Proposed issue of bonus shares

(5,000)

(2,000)

(3,000)

Proposed dividend

(4,904)

(9,107)

(6,000)

(7,500)

(5,000)

(2,700)

(3,600)

Transfer to subordinated loan reserve

(4,858)

(3,658)

(2,580)

Loss arising on translation of the overseas branch assets and liabilities

(115)

(248)

(103)

(13)

Retained earnings at 31 December

833

10.127

4,546

3,447

1,703

1,609

586

400