Clarification

The article Banking Sector Developments, in the business supplement of The Times (September 2) stated that "...BOV staggered the (BD/09) exercise starting in 2001 and completed it by the end of 2003". BOV wishes to clarify that the exercise was, in...

The article Banking Sector Developments, in the business supplement of The Times (September 2) stated that "...BOV staggered the (BD/09) exercise starting in 2001 and completed it by the end of 2003". BOV wishes to clarify that the exercise was, in fact, completed by December 2003, i.e. the first quarter of the current financial year.

The results for the year ending September 30, 2004 will therefore include the charge arising on the last part of the exercise.

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