"The three other banks followed, with Bank Audi's ROACE
at 14 percent and ROAA at 1.10 percent; Bank of Beirut's ROACE
at 13.08 percent and ROAA at 1.13 percent; and Byblos Bank's ROACE
at 8.76 percent and ROAA at 0.70 percent," BLOMINVEST said.
Oil prices were at an all time record for a full year in 2011, yet the big oil companies failed to match the headline profit figures, or ROACE
rates, they were reporting several years ago when oil prices were much lower.
``I saw that she was riding a road roace
bike so she probably lost a bit of time on the flatter part of the course.'' But Cooke insisted that bike selection was not a factor in her below-par performance.
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Targets set out three years ago, including pounds 3.4bn of cost savings, and 14pc return on average capital employed (ROACE
) - a measure of how well a company uses its capital and assets - were expected to be exceeded in 2001.
Targets set out three years ago, including pounds 3.4 billion of cost savings, and 14 per cent return on average capital employed (ROACE
) -- a measure of how well a company uses its capital and assets -- were expected to be exceeded in 2001.
Meeting analysts in Milan, company Secretary Vittorio Mincato also announced measures to improve profitability by 2002, with a return on average capital employed (ROACE
) of 13%, compared with 10.7% in 1998, on the basis of oil trading at USD15 a barrel.
2Ex-PGAAP operating income (loss), ex-PGAAP operating income (loss) per diluted common share and annualized ex-PGAAP operating return on average common equity ('ex-PGAAP operating ROACE
') are non-GAAP financial measures as defined in SEC Regulation G.
The return on average assets ("ROAA") was 0.73%, return on average tangible assets ("ROATA") was 0.74%, return on average common equity ("ROACE
") was 7.68% and the return on average tangible common equity ("ROATCE") was 8.14%.
"The profit performance of the four banks can also be seen by looking at profitability ratios, namely the rate of return on average common equity (ROACE
) and on average assets (ROAA), which measure the productivity to generate earnings from equity and assets."
For the sequential quarter, ROAA was 0.94%, ROATA was 0.95%, ROACE
was 13.39% and ROATCE was 15.11%.