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Statement of Income
(Unaudited)
For the six months ended 30 June 2003 |
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6 months
ended
30
June 2003
RO'000
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6 months
ended
30
June 2002
RO'000
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| Interest
income |
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51,244 |
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50,089 |
| Interest
expense |
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(12,987) |
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(17,770) |
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38,257 |
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32,319 |
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Interest expense on tier
II capital |
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(3,658) |
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(3,915) |
| Net interest
income |
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34,599 |
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28,404 |
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| Investment
income |
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437 |
|
403 |
| Other
operating
income |
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9,030 |
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7,512 |
| Net operating
income |
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44,066 |
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36,319 |
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| Other
operating expenses |
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(18,510) |
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(15,644) |
| Depreciation |
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(1,492) |
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(1,304) |
| Total operating
expenses |
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(20,002) |
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(16,948) |
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| Operating Profit |
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24,064 |
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19,371 |
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| Provision
for possible credit losses |
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(12,029) |
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(6,292) |
| Recoveries
from provision for loan losses |
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3,322 |
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1,198 |
| Net profit before tax |
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15,357 |
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14,277 |
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| Taxation |
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(2,166) |
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(2,098) |
| Net profit after tax
for the period |
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13,191 |
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12,179 |
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