BIS Review 50/2004  1  The 2003 dividend At the Board meeting on 30 June 2004, the Board endorsed the Bank’s final and audited accounts for 2003, which was audited by the Auditor General’s office. The audit confirmed that the operating profit for 2003 was K68 million, which is the highest level recorded in the Bank’s history.
The Board also approved that the net profit available for payment as dividend to the Government is K50 million after a transfer of K18 million to the reserve funds of the Bank of PNG.