 |
|
|
|
For the year ended 31 December 2002 |
2001
US$ |
|
2002
US$ |
|
|
Notes |
|
2002
RO |
|
2001
RO |
| |
|
|
|
|
|
|
|
|
|
|
282,509,901 |
|
271,348,494 |
|
Interest
income |
|
|
104,469,170 |
|
108,766,312 |
|
(137,431,400)
|
|
(88,706,400) |
|
Interest expense on deposits from banks,
customers' deposits and certificates of deposit |
|
|
(34,151,964) |
|
(52,911,089) |
|
145,078,501 |
|
182,642,094 |
|
|
|
|
70,317,206 |
|
55,855,223 |
|
(16,009,530) |
|
(20,188,899) |
|
Interest
expense on Tier II Capital |
|
|
(7,772,726) |
|
(6,163,669) |
|
129,068,971 |
|
162,453,195 |
|
Net
interest income |
|
|
62,544,480 |
|
49,691,554 |
|
31,661,109 |
|
44,047,161 |
|
Other
operating income |
21 |
|
16,958,157 |
|
12,189,527 |
|
160,730,080 |
|
206,500,356 |
|
OPERATING INCOME |
|
|
79,502,637 |
|
61,881,081 |
|
(64,908,480) |
|
(89,576,395) |
|
Other
operating expenses |
22 |
|
(34,486,912) |
|
(24,989,765) |
|
(6,206,865) |
|
(7,513,847) |
|
Depreciation
and amortisation |
|
|
(2,892,831) |
|
(2,389,643) |
|
(71,115,345) |
|
(97,090,242) |
|
|
|
|
(37,379,743) |
|
(27,379,408) |
|
(825,842) |
|
676,449 |
|
Unrealised gain (loss)
on investments available for sale |
|
|
260,433 |
|
(317,949) |
|
(880,519) |
|
786,639 |
|
Release of (provision
for) capital guarantee |
20 |
|
302,856 |
|
(339,000) |
|
(2,931,990) |
|
(375,216) |
|
Provision for
collateral pending sale |
|
|
(144,458) |
|
(1,128,816) |
|
(67,828,782) |
|
(53,750,379) |
|
Provision for possible
credit losses |
6 |
|
(20,693,896) |
|
(26,114,082) |
|
6,694,868 |
|
12,401,031 |
|
Recoveries from
provision for possible credit losses |
|
|
4,774,397 |
|
2,577,524 |
|
(136,887,610) |
|
(137,351,718) |
|
OPERATING EXPENSES |
|
|
(52,880,411) |
|
(52,701,731) |
|
|
|
|
|
|
|
|
|
|
|
23,842,470 |
|
69,148,638 |
|
PROFIT
FOR THE YEAR FROM OPERATIONS BEFORE
TAXATION |
|
|
26,622,226 |
|
9,179,350 |
|
(3,700,023) |
|
(9,635,221) |
|
Income tax expense |
13 |
|
(3,709,560)
|
|
(1,424,509) |
|
|
|
|
|
|
|
|
|
|
|
|
20,142,447 |
|
59,513,417
|
|
NET
PROFIT FOR THE YEAR |
|
|
22,912,666 |
|
7,754,841 |
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
Earnings per share |
31 |
|
|
|
|
|
0.444 |
|
1.235 |
|
- Basic |
|
|
0.476 |
|
0.171 |
|
|
|
|
|
|
|
|
|
|
|
|
0.444 |
|
1.181 |
|
- Diluted |
|
|
0.455 |
|
0.171 |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
The
attached notes 1 to 38 form part of these financial
statements |
|
|
|
|
|
|
|
|
|
|
