Consolidated Statement of Changes in Equity

Consolidated statement of changes in equity

for the year ended 31 December

Employees’ Attributable to
share-based Proposed shareholders Non
Share Treasury payment Statutory Fair value Retained directors’ Tier 1 Tier 1 of the controlling
Capital shares scheme reserve reserve earnings remuneration Sukuk Bonds parent interest Total
AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000
Balance at 1 January 2018 310,050 -21,402 -1,750 146,185 -6,305 117,349 3,090 283,550 830,767 72,432 903,199
Changes on initial application of IFRS 9 -66,361 -66,361 -66,361
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Restated balance at 1 January 2018 310,050 -21,402 -1,750 146,185 -6,305 50,988 3,090 283,550 764,406 72,432 836,838
Loss on disposal of investments carried at
   Fair value through other comprehensive
   income 2,780 -2,780 93 93
Profit for the year 11,825 11,825 6,015 17,840
Net change in fair value of investments
   carried at fair value through other
   comprehensive income -41,165 -41,165 -1,264 -42,429
Directors remuneration paid -3,090 -3,090 -3,090
—————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————–
Total comprehensive income for the year -41,165 11,825 -3,090 -32,430 -4,751 -27,679
Proposed directors’ remuneration -1,064 1,064
Cash dividend paid -15,141 -15,141 -15,141
Transfer to statutory reserve 1,182 -1,182
Elimination of Tier I Sukuk -2,050 -2,050 -2,050
Decrease in non-Treasury shares -1,388 -1,388
Tier 1 SUKUK coupon paid -22,500 -22,500 -22,500
—————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————–
Balance at 31 December 2018 310,050 -21,402 -1,750 147,367 -44,690 20,146 1,064 281,500 692,285 75,888 768,173
Adjustment on initial application of
   IFRS 16 (see note 3d)
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Employees’ Attributable to
share-based Proposed shareholders Non
Share Treasury payment Statutory Fair value Retained directors’ Tier 1 Tier 1 of the controlling
Capital shares scheme reserve reserve earnings remuneration Sukuk Bonds parent interest Total 
AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000
Balance at 1 January 2019 310,050 -21,402 -1,750 147,367 -44,690 20,146 1,064 281,500 692,285 75,888 768,173
Profit on disposal of investment carried at fair 
  value through other comprehensive income  -15,735 15,735
Profit for the year 13,592 13,592 8,853 21,777
Net changes in fair value of investments 
   carried at fair value through other comprehensive 
   income 18,900 18,900 3,041 21,941
Directors remuneration paid  -1,064 -1,064 -1,064
—————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————–
Total comprehensive income for the year 18,900 29,327 -1,064 31,428 11,894 43,322
Proposed director’s remuneration -1,223 1,223
Cash dividend paid -8,873 -8,873 -8,873
Transfer to statutory reserve 1,359 -1,359
Elimination of Tier I Sukuk 
Movement in Tier 1 Sukuk / Bonds -1,100 15,000 13,900 13,900
Tier 1 SUKUK coupon paid  -22,038 -22,038 -22,038
—————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————– —————————————–
Balance at 31 December 2019 310,050 -21,402 -1,750 148,726 -41,525 15,980 1,223 280,400 15,000 706,702 87,782 794,484
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The notes on pages 15 to 106 are an integral part of this consolidated financial statements.