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Statement of Income
For the year ended 31 December 2001 |
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2000
US$
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2001
US$ |
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2001
RO
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2000
RO
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|
| 297,720,888 |
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282,509,901 |
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Interest
income |
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108,766,312 |
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114,622,542 |
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(168,416,519)
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(137,431,400) |
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Interest expense on deposits from banks,
customers' deposits and certificates of deposit |
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(52,911,089) |
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(64,840,360)
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129,304,369 |
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145,078,501 |
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55,855,223 |
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49,782,182 |
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(5,803,247) |
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(16,009,530) |
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Interest
expense on subordinated liabilities |
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(6,163,669) |
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(2,234,250) |
| 123,501,122 |
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129,068,971 |
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Net
interest income |
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49,691,554 |
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47,547,932 |
| 26,415,496 |
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31,661,109 |
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Other
operating income |
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12,189,527 |
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10,169,966 |
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149,916,618 |
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160,730,080 |
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NET
OPERATING INCOME |
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61,881,081 |
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57,717,898 |
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(67,462,509) |
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(64,908,480) |
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Other
operating expenses |
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(24,989,765) |
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(25,973,066) |
| (7,391,343) |
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(6,206,865) |
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Depreciation
and amortisation |
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(2,389,643) |
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(2,845,667) |
| (74,853,852) |
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(71,115,345) |
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(27,379,408) |
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(28,818,733) |
| (4,060,276) |
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(825,842) |
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Provision
for impairment of investment
securities |
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(317,949) |
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(1,563,206) |
| (870,130) |
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(880,519) |
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Provision
for capital guarantee |
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(339,000) |
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(335,000) |
| (5,177,244) |
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- |
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Provision towards government assistance programme of brokerage companies |
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- |
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(1,993,239) |
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- |
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(2,931,990) |
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Provision
for collateral pending sale |
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(1,128,816) |
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- |
| (30,675,171) |
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(67,828,782) |
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Provision
for possible credit losses |
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(26,114,082) |
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(11,809,941) |
| 4,578,897 |
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6,694,868 |
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Recoveries
from provision for possible
credit losses |
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2,577,524 |
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1,762,875 |
| 9,090,909 |
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- |
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Net
gain from sale of branches |
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- |
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3,500,000 |
| (101,966,867) |
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(136,887,610) |
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NET
OPERATING EXPENSES |
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(52,701,731) |
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(39,257,244) |
| 47,949,751 |
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23,842,470 |
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PROFIT
FOR THE YEAR BEFORE TAXATION |
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9,179,350 |
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18,460,654 |
| (5,697,117) |
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(3,700,023) |
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Taxation |
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(1,424,509) |
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(2,193,390) |
| 42,252,634 |
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20,142,447 |
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NET
PROFIT FOR THE YEAR |
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7,754,841 |
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16,267,264 |
| 0.927 |
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0.442 |
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Basic
earnings per share |
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0.170 |
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0.357 |
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