Financial Results

(US$ million)	2025	2024	2023	2022
For the year
Gross Operating and Other Income	313	321	277	169
Operating Expenses	52	55	53	47
Net Profit	230	239	203	131
At year end
Total Assets	3,504	3,446	3,690	3,331
Interest Bearing Securities and Funds	469	422	507	355
Equities and Managed Funds	859	793	744	608
Projects and Equity Participations	1,906	2,012	2,070	1,926
Deposits	444	409	792	431
Shareholders’ Equity	2,875	2,885	2,802	2,688
Selected Ratios (%) Profitability
Return on Paid-up Capital	11.0	11.4	9.7	6.2
Return on Adjusted Shareholders’ Equity	7.4	7.9	7.0	4.6
Capital BIS Ratio
– Total	32.5	33.0	33.4	30.7
– Tier 1	32.5	33.0	33.4	30.7
– Shareholders’ Equity as a % of Total Assets	82.0	83.7	75.9	80.7
Asset Quality
Marketable Securities as a % of Total Assets	27.3	25.1	23.8	19.6
GCC Country Risk as a % of Total Assets	66.6	67.9	68.1	71.5
Liquidity
Liquid Assets Ratio	63.5	40.4	42.4	39.6
Productivity
Operating Income as Multiple of Operating Expenses	6.0	5.8	5.2	3.6