Consolidated Statement of Financial Position

Consolidated Statement of Financial Position

as at 31 December

  2019   2018
Note AED’000   AED’000
Assets
Cash balances 18 16,134 17,599
Due from banks 18 499,808 512,179
Investment securities 19 439,328 723,799
Loans and advances 20 2,452,030 2,300,504
Islamic financing and investing assets 21 90,850 142,614
Investment in equity accounted investees 22 90,095 50,485
Interest receivable and other assets 23 107,532 142,027
Insurance receivables and contract assets 24 111,265 94,462
Property, fixtures and equipment 25 102,261 24,532
Intangibles 26 6,705 6,705
Investment properties 27 7,925 79,478
  ——————————————— ———————————————-
Total assets   3,923,933 4,094,384
    ========== ==========
     
Liabilities and Equity    
Liabilities    
Customers’ deposits and margin accounts 28 2,470,807 2,746,891
Due to banks and other financial institutions 18 13,459 15,014
Short term borrowings 29 173,100 27,600
Medium term loan 29 100,003 183,335
Unearned premiums   94,890 88,938
Gross claims outstanding   58,851 63,352
Lease liabilities   8,374
Interest payable and other liabilities 30 195,392 187,001
Provision for employees’ end of service benefits 31 14,573 14,080
  ——————————————— ———————————————
Total liabilities   3,129,449 3,326,211
    ========== ==========
  2019   2018
Note AED’000   AED’000
     
Equity    
Share capital 32 310,050 310,050
Treasury shares 33 (21,402) (21,402)
Employees’ share-based payment scheme 34 (1,750) (1,750)
Statutory reserve 35 148,726 147,367
Fair value reserve   (41,525) (44,690)
Retained earnings 15,980 20,146
Tier 1 Sukuk 36 280,400 281,500
Tier 1 Bonds 36 15,000
Proposed directors’ remuneration   1,223 1,064
  ——————————————— ———————————————
  706,702 692,285
Non-controlling interests 87,782 75,888
  ——————————————— ———————————————
Total equity   794,484 768,173
  ——————————————— ———————————————
Total liabilities and equity   3,923,933 4,094,384
    ========== ==========
       
Commitments and contingent liabilities 37 1,114,002 1,544,002
  ——————————————— ———————————————

 

The notes on pages 15 to 106 are an integral part of this consolidated financial statements.



These consolidated financial statements were authorized and approved for issue by the Board of Directors on 16 February 2020 and signed on their behalf by:

………………………………                                                                                                 ………………………………

Mr. Mohammed Alqubaisi                                                                   Mr. Hamid Taylor

CHAIRMAN                                                                                            GENERAL MANAGER