Annual Report - Ahli United Bank

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Annual Report - Ahli United Bank

ConsolidatedStatement of IncomeYear ended 31 December 20092009 2008Note US$ ’000 US$ ’000Interest income 4 934,283 1,240,072Interest expense 5 467,698 836,967Net interest income 466,585 403,105Fees and commissions - net 6 138,530 150,630Trading income - net 7 39,439 24,896Net loss on available-for-sale investments 8 (14,064) (12,391)Share of profit from associates 40,744 66,455Dividend income 13,275 20,032Other operating income 11,877 12,806229,801 262,428OPERATING INCOME 696,386 665,533Provision for loan losses and contingencies - net 10f 228,136 98,625NET OPERATING INCOME 468,250 566,908Staff costs 142,151 152,689Depreciation 20,233 16,834Other operating expenses 75,466 90,930OPERATING EXPENSES 237,850 260,453PROFIT BEFORE TAX 230,400 306,455Income tax expense (credit) 22 4,314 (3,287)NET PROFIT FOR THE YEAR 226,086 309,742Attributable to:Bank’s equity shareholders 200,718 255,723Non-controlling interests 25,368 54,019226,086 309,742EARNINGS PER SHARE ATTRIBUTABLE TOBANK’S EQUITY SHAREHOLDERS FOR THE YEAR:Basic earnings per share (US cents) 23 4.2 5.3Diluted earnings per share (US cents) 23 4.2 5.3The attached notes 1 to 38 form part of these consolidated financial statements46 AUB Annual Report 2009

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