Annual Report - Ahli United Bank

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Annual Report - Ahli United Bank

Notes to theConsolidated Financial Statements (Contd.)30 SEGMENT INFORMATIONFor management purposes the Group is organised into three major business segments:Retail bankingCorporate banking, treasury and investmentsPrivate banking and wealth managementprincipally handling individual customers’ deposit and current accounts,providing consumer loans, residential mortgages, overdrafts, credit cards andfund transfer facilities.principally handling loans and other credit facilities, and deposit and currentaccounts for corporate and institutional customers and providing money market,trading and treasury services, as well as management of the Group’s funding.principally servicing high net worth clients through a range of investmentproducts, funds, credit facilities, trusts and alternative investments.These segments are the basis on which the Group reports its primary segment information. Transactions between segments areconducted at approximate market rates on an arm’s length basis. Interest is charged/credited to business segments based on a poolrate which approximates the cost of funds.Segmental information for the period was as follows:Year ended 31 December 2009:RetailbankingCorporatebanking,treasury andinvestmentsPrivatebankingand wealthmanagementTotalUS$ ’000 US$ ’000 US$ ’000 US$ ’000Net interest income 142,088 292,972 31,525 466,585Intersegment interest (5,352) 10,716 (5,364) -Fees and commisions - net 50,138 64,381 24,011 138,530Other operating income 4,044 86,902 325 91,271OPERATING INCOME 190,918 454,971 50,497 696,386Provision for loan losses and contingencies - net 36,784 191,261 91 228,136NET OPERATING INCOME 154,134 263,710 50,406 468,250Operating expenses 104,276 109,264 24,310 237,850PROFIT BEFORE TAX 49,858 154,446 26,096 230,400Income tax expense (credit) 1,882 (390) 2,822 4,314NET PROFIT FOR THE YEAR 47,976 154,836 23,274 226,086Less : Attributable to non-controlling interests 25,368NET PROFIT ATTRIBUTABLE TO THE BANK'S EQUITY SHAREHOLDERS 200,718Segment assets 3,116,103 17,346,689 1,438,000 21,900,792Goodwill (note 15) 177,912 215,392 111,947 505,251Investment in associates and joint venture 537,099Unallocated assets 630,841TOTAL ASSETS 23,573,983Segment liabilities 2,901,758 15,684,112 1,813,731 20,399,601Unallocated liabilities - - - 592,951TOTAL LIABILITIES 20,992,55288 AUB Annual Report 2009

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