E:We've seen the income before our coffee break; now let's look at the outgoings.
V:What is the largest amount of money you spent in 1994?
E:Obviously, the largest of these is staff costs.
It increased from fifty-five million dollars in the fiscal 1993 to sixty-five million dollars at theend of 1994.
It covers forty-two per cent in the total group outgoings.
V:Why is the increase as large as eighteen per cent?
E:It is partly because of the increase in staff numbers required to deal with the expansion ofthe bank's fee-generating activities which I have just mentioned in the income section.
V:How about doubtful debt provision and depreciation?
E:Provisions for doubtful debts amounted to eight million dollars,
an increase of sixty per cent;
while depreciation on leased assets and on premises and equipment decreased from sixteenmillion dollars to fifteen million dollars.
V:Is depreciation calculated on a straight line basis?
E:Yes, that' how we calculate depreciation.
V:Besides the largest of outgoings, staff costs, as well as provision for doubtful debts anddepreciation,
how about expenses, on tax, dividends?
E:Tax, not much to say really. We paid five million dollars more than in 1993.