|
Amounts
in RO'000 |
| |
2002 |
|
2001 |
|
2000 |
|
1999 |
|
1998 |
|
1997 |
|
1996 |
|
1995 |
|
1994 |
|
1993 |
| Statement of Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
104,469 |
|
108,766 |
|
114,622 |
|
62,641 |
|
57,984 |
|
43,287 |
|
30,207 |
|
25,649 |
|
20,798 |
|
19,215 |
| Interest expense |
(41,925) |
|
(59,075) |
|
(67,075) |
|
(36,402) |
|
(34,552) |
|
(23,063) |
|
(15,674) |
|
(12,694) |
|
(9,396) |
|
(9,792) |
| Net interest income |
62,544 |
|
49,691 |
|
47,547 |
|
26,239 |
|
23,432 |
|
20,224 |
|
14,533 |
|
12,955 |
|
11,402 |
|
9,423 |
| Other operating income |
16,958 |
|
12,190 |
|
10,170 |
|
6,251 |
|
5,889 |
|
5,715 |
|
3,461 |
|
3,081 |
|
2,004 |
|
1,982 |
| Net Operating Income |
79,502 |
|
61,881 |
|
57,717 |
|
32,490 |
|
29,321 |
|
25,939 |
|
17,994 |
|
16,036 |
|
13,406 |
|
11,405 |
| Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other operating expenses |
(34,487) |
|
(24,990) |
|
(25,973) |
|
(12,628) |
|
(12,131) |
|
(10,530) |
|
(8,996) |
|
(7,502) |
|
(6,754) |
|
(5,607) |
| Depreciation and amortisation |
(2,893) |
|
(2,390) |
|
(2,846) |
|
(1,331) |
|
(1,224) |
|
(1,069) |
|
(1,009) |
|
(892) |
|
(808) |
|
(803) |
|
(37,380) |
|
(27,380) |
|
(28,819) |
|
(13,959) |
|
(13,355) |
|
(11,599) |
|
(10,005) |
|
(8,394) |
|
(7,562) |
|
(6,410) |
Unrealised gain (loss)
on
investment securities |
260 |
|
(318) |
|
(1,563) |
|
(1,090) |
|
(300) |
|
- |
|
- |
|
- |
|
- |
|
- |
Release of (provision
for)
capital guarantee |
303 |
|
(339) |
|
(335) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision towards government assistance
programme of brokerage companies |
- |
|
- |
|
(1,993) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision for collateral pending sale |
(144) |
|
(1,129) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision for possible credit losses
(net) |
(15,919) |
|
(23,536) |
|
(10,047) |
|
(3,553) |
|
(2,634) |
|
(1,812) |
|
(422) |
|
(1,565) |
|
(754) |
|
(1,785) |
|
(52,880) |
|
(52,702) |
|
(42,757) |
|
(18,602) |
|
(16,289) |
|
(13,411) |
|
(10,427) |
|
(9,959) |
|
(8,316) |
|
(8,195) |
| Profit Before Discontinuing
Operations |
26,622 |
|
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 |
26,622 |
|
9,179 |
|
18,460 |
|
13,888 |
|
13,032 |
|
12,528 |
|
7,567 |
|
6,077 |
|
5,090 |
|
3,210 |
| Taxation |
(3,709) |
|
(1,424) |
|
(2,193) |
|
(1,833) |
|
- |
|
- |
|
(228) |
|
- |
|
- |
|
- |
| Net Profit for the year |
22,913 |
|
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 |
833 |
|
10,127 |
|
4,546 |
|
3,447 |
|
1,703 |
|
1,609 |
|
586 |
|
400 |
|
35 |
|
662 |
| Retained earnings - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial Bank of Oman |
- |
|
- |
|
4,327 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Adjustment arising from the
application of IAS 39 |
- |
|
(7,172) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
Convertible bonds
adjustment |
(2) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Net Profit for the year |
22,913 |
|
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) |
|
(195) |
|
(182) |
|
(82) |
|
(84) |
|
(66) |
|
(66) |
| Transfer to general
reserve |
(4,000) |
|
- |
|
(2,000) |
|
(1,000) |
|
(1,000) |
|
(1,000) |
|
(500) |
|
(500) |
|
(550) |
|
(450) |
| Proposed issue of bonus shares |
(2,452) |
|
- |
|
- |
|
- |
|
- |
|
(5,000) |
|
- |
|
(2,000) |
|
- |
|
(3,000) |
| Proposed dividend |
(7,356) |
|
(4,904) |
|
(9,107) |
|
(6,000) |
|
(7,500) |
|
(5,000) |
|
(5,000) |
|
(2,700) |
|
(3,600) |
|
- |
| Transfer to subordinated loan reserve |
- |
|
(4,858) |
|
(3,658) |
|
(3,658) |
|
(2,580) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
Profit (Loss) arising on translation of the overseas branch
assets and liabilities |
17 |
|
(115) |
|
(248) |
|
(103) |
|
(13) |
|
- |
|
- |
|
- |
|
- |
|
- |
| Retained earnings at 31 December |
9,953 |
|
833 |
|
10.127 |
|
4,546 |
|
3,447 |
|
1,703 |
|
1,609 |
|
586 |
|
400 |
|
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet as at 31 December