|
Amount
in U.S. $.'000 |
| |
2002 |
|
2001 |
|
2000 |
|
1999 |
|
1998 |
|
1997 |
|
1996 |
|
1995 |
|
1994 |
|
1993 |
| Statement of Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
271,348 |
|
282,510 |
|
297,721 |
|
162,704 |
|
150,607 |
|
112,434 |
|
78,460 |
|
66,621 |
|
54,021 |
|
49,909 |
| Interest expense |
(108,896) |
|
(153,441) |
|
(174,222) |
|
(94,551) |
|
(89,745) |
|
(59,904) |
|
(40,712) |
|
(32,971) |
|
(24,405) |
|
(25,434) |
| Net interest income |
162,452 |
|
129,069 |
|
123,501 |
|
68,153 |
|
60,862 |
|
52,530 |
|
37,748 |
|
33,650 |
|
29,616 |
|
24,475 |
| Other operating income |
44,047 |
|
31,661 |
|
26,416 |
|
16,236 |
|
15,296 |
|
14,844 |
|
8,990 |
|
8,003 |
|
5,205 |
|
5,148 |
| Net Operating Income |
206,499 |
|
160,730 |
|
149,917 |
|
84,389 |
|
76,158 |
|
67,374 |
|
46,738 |
|
41,653 |
|
34,821 |
|
29,623 |
| Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other operating expenses |
(89,577) |
|
(64,908) |
|
(67,462) |
|
(32,800) |
|
(31,509) |
|
(27,351) |
|
(23,366) |
|
(19,486) |
|
(17,543) |
|
(14,564) |
| Depreciation |
(7,514) |
|
(6,207) |
|
(7,392) |
|
(3,457) |
|
(3,179) |
|
(2,777) |
|
(2,621) |
|
(2,317) |
|
(2,099) |
|
(2,085) |
|
(97,091) |
|
(71,115) |
|
(74,855) |
|
(36,257) |
|
(34,688) |
|
(30,128) |
|
(25,987) |
|
(21,803) |
|
(19,642) |
|
(16,649) |
Unrealised gain (loss)
on
investment securities |
676 |
|
(826) |
|
(4,060) |
|
(2,831) |
|
(779) |
|
- |
|
- |
|
- |
|
- |
|
- |
Release of (provision
for)
capital guarantee |
787 |
|
(880) |
|
(870) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision towards government assistance
programme of brokerage companies |
- |
|
- |
|
(5,178) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision for collateral pending sale |
(374) |
|
(2,932) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Provision for possible credit losses
(net) |
(41,348) |
|
(61,134) |
|
(26,096) |
|
(9,228) |
|
(6,841) |
|
(4,706) |
|
(1,096) |
|
(4,065) |
|
(1,958) |
|
(4,636) |
|
(137,350) |
|
(136,887) |
|
(111,058) |
|
(48,316) |
|
(42,308) |
|
(34,834) |
|
(27,083) |
|
(25,868) |
|
(21,600) |
|
(21,285) |
| Profit Before Discontinuing
Operations |
69,148 |
|
23,843 |
|
38,859 |
|
36,073 |
|
33,850 |
|
32,540 |
|
19,655 |
|
15,785 |
|
13,221 |
|
8,338 |
| Net gain from discontinuing operations |
- |
|
- |
|
9,091 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Net Profit Before Taxation |
69,148 |
|
23,843 |
|
47,950 |
|
36,073 |
|
33,850 |
|
32,540 |
|
19,655 |
|
15,785 |
|
13,221 |
|
8,338 |
| Taxation |
(9,635) |
|
(3,700) |
|
(5,697) |
|
(4,761) |
|
- |
|
- |
|
(593) |
|
- |
|
- |
|
- |
| Net Profit for the year |
59,513 |
|
20,143 |
|
42,253 |
|
31,312 |
|
33,850 |
|
32,540 |
|
19,062 |
|
15,785 |
|
13,221 |
|
8,338 |
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Statement of Retained
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retained earnings at 1
January |
2,164 |
|
26,304 |
|
11,808 |
|
8,953 |
|
4,423 |
|
4,179 |
|
1,522 |
|
1,039 |
|
91 |
|
1,719 |
| Retained earnings - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial Bank of Oman |
- |
|
- |
|
11,239 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Adjustment arising from the
application of IAS 39 |
- |
|
(18,627) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
Convertible bonds
adjustment |
(5) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| Net Profit for the year |
59,513 |
|
20,143 |
|
42,253 |
|
31,312 |
|
33,850 |
|
32,540 |
|
19,062 |
|
15,785 |
|
13,221 |
|
8,338 |
| Transfer to legal reserve |
- |
|
- |
|
- |
|
- |
|
|
|
(3,252) |
|
(1,906) |
|
(1,577) |
|
(1,322) |
|
(834) |
| Directors' remuneration |
- |
|
- |
|
- |
|
(506) |
|
(506) |
|
(473) |
|
(213) |
|
(218) |
|
(171) |
|
(171) |
| Transfer to general
reserve |
(10,390) |
|
- |
|
(5,195) |
|
(2,597) |
|
(2,597) |
|
(2,597) |
|
(1,299) |
|
(1,299) |
|
(1,429) |
|
(1,169) |
| Proposed issue of bonus shares |
(6,368) |
|
- |
|
- |
|
- |
|
- |
|
(12,987) |
|
- |
|
(5,195) |
|
- |
|
(7,792) |
| Proposed dividend |
(19,105) |
|
(12,738) |
|
(23,655) |
|
(15,584) |
|
(19,481) |
|
(12,987) |
|
(12,987) |
|
(7,013) |
|
(9,351) |
|
- |
| Transfer to subordinated loan reserve |
- |
|
(12,618) |
|
(9,502) |
|
(9,502) |
|
(6,701) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
Profit (Loss) arising on translation of the overseas
branch assets and liabilities |
44 |
|
(300) |
|
(644) |
|
(268) |
|
(34) |
|
- |
|
- |
|
- |
|
- |
|
- |
| Retained earnings at 31 December |
25,853 |
|
2,164 |
|
26,304 |
|
11,808 |
|
8,953 |
|
4,423 |
|
4,179 |
|
1,522 |
|
1,039 |
|
91 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet as at 31 December