Annexes

Income Statement (US $)

	GROUP			BANK
For the year ended December 31,	2013	2012	Change	2013	2012	Change
	US $ ’000	US $ ’000	%	US $ ’000	US $ ’000	%
Gross income	558,026	495,107	12.71	558,470	495,274	12.76
Interest income	474,637	411,429	15.36	474,710	411,605	15.33
Less: interest expenses	281,337	232,901	20.80	281,517	233,050	20.80
Net interest income	193,300	178,528	8.27	193,193	178,555	8.20
Fees and commission income	37,253	32,397	14.99	37,225	32,395	14.91
Less: fees and commission expenses	4,788	4,286	11.71	4,788	4,286	11.71
Net fees and commission income	32,465	28,111	15.49	32,437	28,109	15.40
Net gain/(loss) from trading	(12,412)	19,487	(163.69)	(12,412)	19,487	(163.69)
Net gain/(loss) from financial instruments designated at fair value through profit or loss	–	–	–	–	–	–
Net gain/(loss) from financial investments	10,302	246	4,087.80	10,302	246	4,087.80
Other income (net)	48,246	31,548	52.93	48,645	31,541	54.23
Total operating income	271,901	257,920	5.42	272,165	257,938	5.52
Impairment charges for loans and other losses	35,117	24,674	42.32	35,323	24,975	41.43
Net operating income	236,784	233,246	1.52	236,842	232,963	1.67
Less: Expenses
Personnel expenses	63,099	61,228	3.06	62,490	60,701	2.95
Other expenses	46,550	44,770	3.98	48,554	45,054	7.77
Operating profit before value added tax (VAT)	127,135	127,248	(0.09)	125,798	127,208	(1.11)
Less: Value added tax (VAT) on financial services	15,030	15,526	(3.19)	15,030	15,526	(3.19)
Operating profit after value added tax (VAT)	112,105	111,722	0.34	110,768	111,682	(0.82)
Share of profits/(losses) of associates	54	97	(44.33)	–	–	–
Profit before income tax	112,159	111,819	0.30	110,768	111,682	(0.82)
Less: Income tax expense	31,445	33,061	(4.89)	31,031	32,789	(5.36)
Profit for the year	80,714	78,758	2.48	79,737	78,893	1.07

Profit attributable to:
Equity holders of the Bank	80,637	78,748	2.40	79,737	78,893	1.07
Non-controlling interest	77	10	670.00	–	–	–
	80,714	78,758	2.48	79,737	78,893	1.07

Basic earnings per share (US $)	0.10	0.09	11.11	0.09	0.09	–
Diluted earnings per share (US $)	0.09	0.09	–	0.09	0.09	–
Dividend per ordinary share (US $)	–	–	–	0.05	0.05	–

US $ Accounts

The Income Statement and the Statement of Financial Position are solely for the convenience of shareholders, investors, bankers and other users of Financial Statements and do not form part of the Financial Statements.