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*Consolidated Income Statement** as at December 31, 2004 (Audited)
(LL thousands)
Income Statement		31-Dec-2004	31-Dec-2003
Interest and similar income		765,092,838	640,434,746
	Lebanese Treasury bills and other government bills	179,052,583	284,145,968
	Deposits and similar accounts in banks and financial institutions	387,704,608	205,550,115
	Deposits in head office, branches and affiliates
	Bonds and financial instruments with fixed income	31,468,146	21,046,492
	Loans and advances to customers	153,164,817	119,883,103
	Loans and advances to related parties	7,564,522	7,169,265
	Other interest and similar income	6,138,162	2,639,803
	Interest on leasing contracts
Interest and similar charges		535,749,339	428,448,160
	Deposits and similar accounts from banks and financial institutions	26,314,806	15,010,319
	Deposits from head office, branches and affiliates
	Deposits from customers and other creditor accounts	482,897,966	387,308,590
	Deposits from related parties	4,874,629	2,369,834
	Cash contribution to capital and subordinated loans
	Certificates of deposit	16,250,024	16,833,045
	Bonds and financial instruments with fixed income	2,283,318	6,417,048
	Other interest and similar charges	3,128,596	509,324
	Interest on leasing contracts
Net provisions and recoveries on doubtful loans		24,022,985	43,008,672
	Provisions for doubtful loans Of which: provision setup related to commercial loans(granted by leasing companies)	40,112,409	51,476,852
	Recoveries of provisions for doubtful loans Of which: provision write-back related to commercial loans(granted by leasing companies) Of which: provision write-back related to leasing contracts	(16,089,424)	(8,468,180)
	Provision related to leasing contracts
Net interest income D=A-(B+C)		205,320,514	168,977,914
Revenues from marketable securities and instruments with variable income		4,753,387	4,387,022
Net commissions		84,131,304	51,357,422
	Commissions received Of which: commission related to leasing contracts	126,005,100	69,290,711
	Commissions paid Of which: commission related to leasing contracts	(41,873,796)	(17,933,289)
Profit on financial operations		94,700,009	70,677,893
	Profit on marketable securities	3,807,692	4,023,984
	Profit on financial fixed assets	11,534,894	3,106,410
	Profit on foreign exchange position	19,514,043	15,183,057
	Profit on financial instruments	59,843,380	48,364,442
Loss on financial operations		8,017,691	12,775,364
	Loss on marketable securities	796,827	2,878,790
	Loss on financial fixed assets	655,270	1,736,404
	Loss on foreign exchange position	3,680,127	4,066,465
	Loss on financial instruments	2,885,467	4,093,705
Net income from financial operations I=G-H		86,682,318	57,902,529
Other operating income		7,961,467	4,837,616
Other operating expenses		3,416,266	3,011,742
General and administrative expenses		227,016,597	152,336,618
	Salaries wages and related charges	136,156,412	89,133,661
	General operating expenses	90,860,185	63,202,957
Amortization and depreciation		21,545,497	22,511,296
Provision on investments and marketable securities and financial instruments with variable income		(285,589)	(4,005,917)
Provisions on contingent accounts
Profit from operations before taxation P=D+E+F+I+J-K-L-M+N+O		136,585,041	105,596,930
Net extraordinary income		(6,103,059)	(3,046,129)
	Extraordinary income	4,208,103	2,862,658
	Extraordinary expenses	(10,311,162)	(5,908,787)
Income tax		22,393,386	20,809,801
Our part in affiliates under equity method
	Non financial institutions
	Financial institutions
Net profit for the year		108,088,596	81,741,000
	Group share	107,608,641	81,909,402
	Minority share	479,955	(168,402)
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