6.2.12 Gross carrying amount
Gross carrying amount
The following table further explains the changes in the gross carrying amount from 1 January to 31 December 2021:
| 2021 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Loans and advances | ||||
| Gross carrying amount as at 1 January 2021 | 1,522,765 | 515,139 | 509,501 | 2,547,405 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (2,910) | 11,570 | – | 8,660 |
| Transfer from Stage 1 to Stage 3 | – | – | – | – |
| Transfer from Stage 2 to Stage 3 | – | (77,161) | 77,186 | 25 |
| Transfer from Stage 3 to Stage 2 | – | – | – | – |
| Transfer from Stage 2 to Stage 1 | 21,863 | (22,782) | – | (919) |
| New financial assets originated | 18,715 | – | – | 18,715 |
| Repayments during the year | (31,073) | (13,246) | – | (44,319) |
| Other movements | (2,763) | 948 | (32,606) | (34,421) |
| Reversal of no longer required impairment charges | – | (757) | (573) | (1,330) |
| Gross carrying amount as at 31 December 2021 |
1,526,597 |
413,711 |
553,508 |
2,493,816 |
| Islamic financing and investing activities | ||||
| Gross carrying amount as at 1 January 2021 | 39,686 | 14,770 | 66,794 | 121,250 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (691) | 757 | – | 66 |
| Transfer from Stage 1 to Stage 3 | – | – | – | – |
| Transfer from Stage 2 to Stage 3 | – | (3,804) | 4,102 | 298 |
| Transfer from Stage 3 to Stage 2 | – | – | – | – |
| Transfer from Stage 2 to Stage 1 | – | – | – | – |
| New financial assets originated | – | – | – | – |
| Repayments during the year | (5,714) | (4,674) | – | (10,388) |
| Other movements / Write offs | (16,967) | (2,387) | 1,392 | (17,962) |
| Reversal of no longer required impairment charges | – | – | – | – |
| Gross carrying amount as at 31 December 2021 |
16,314 |
4,662 |
72,288 |
93,264 |
| 2021 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Cash and balances with the UAE Central Bank | 157,844 | – | – | 157,844 |
| Due from banks at investment grade | 444,043 | – | – | 444,043 |
| Financial assets measured at amortised cost at investment grade | 1,847 | – | – | 1,847 |
603,734 |
– |
603,734 |
There were no transfers between the stages during the year ended 31 December 2021.
| 2021 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Off-balance sheet items | ||||
| Gross carrying amount as at 1 January 2021 | 722,668 | 13,344 | 32,130 | 768,142 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | – | – | – | – |
| Transfer from Stage 2 to Stage 3 | – | – | – | – |
| New financial assets originated | 15,962 | – | – | 15,962 |
| Repayments during the year | (150,348) | (15) | – | (150,363) |
| Other Movement | (13,434) | (7,558) | (31,292) | (52,284) |
| Gross carrying amount as at 31 December 2021 |
574,848 |
5,771 |
838 |
581,457 |
| 2020 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Loans and advances | ||||
| Gross carrying amount as at | 2,168,117 | 238,206 | 551,816 | 2,958,139 |
| 1 January 2020 | ||||
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (356,550) | 338,313 | – | (18,237) |
| Transfer from Stage 1 to Stage 3 | (52,414) | – | 58,667 | 6,253 |
| Transfer from Stage 2 to Stage 3 | 41,435 | (45,845) | – | (4,410) |
| Transfer from Stage 3 to Stage 2 | – | (32,415) | 33,747 | 1,332 |
| Transfer from Stage 2 to Stage 1 | 199 | – | – | 199 |
| New financial assets originated | – | 6,871 | (12,172) | (5,301) |
| Repayments during the year | 123,831 | 10,173 | 2,855 | 136,859 |
| Other movements | (205,005) | (4,812) | (93,062) | (302,879) |
| Reversal of no longer required impairment charges | ||||
(196,848) |
4,648 | (32,350) | (224,550) | |
| Gross carrying amount as at 31 December 2020 |
1,522,765 |
515,139 |
509,501 |
2,547,405 |
| Islamic financing and investing activities | ||||
| Gross carrying amount as at 1 January 2020 | 78,208 | 3,401 | 70,223 | 151,832 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (16,069) | 14,209 | – | (1,860) |
| Transfer from Stage 1 to Stage 3 | – | – | (2) | (2) |
| Transfer from Stage 2 to Stage 3 | 1,381 | (1,802) | – | (421) |
| Transfer from Stage 3 to Stage 2 | – | (134) | 71 | (63) |
| Transfer from Stage 2 to Stage 1 | – | – | – | – |
| New financial assets originated | – | – | – | – |
| Repayments during the year | – | – | – | – |
| Other movements / Write offs | (23,834) | (904) | (3,498) | (28,236) |
| Reversal of no longer required impairment charges | – | – | – | – |
| Gross carrying amount as at 31 December 2020 |
39,686 |
14,770 |
66,794 |
121,250 |
| 2020 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Cash and balances with the UAE Central Bank | 39,267 | – | – | 39,267 |
| Due from banks at investment grade | 468,961 | – | – | 468,961 |
| Financial assets measured at amortised cost at investment grade | 3,673 | – | – | 3,673 |
511,901 |
– |
– |
511,901 |
|
There were no transfers between the stages during the year ended 31 December 2020.
| 2,020 | ||||
| Stage 1 | Stage 2 | Stage 3 | ||
| 12-month ECL | Lifetime ECL | Lifetime ECL | Total | |
| AED’000 | AED’000 | AED’000 | AED’000 | |
| Off-balance sheet items | ||||
| Gross carrying amount as at 1 January 2020 | 1,053,826 | 14,795 | 57,383 | 1,126,004 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (17,387) | 3,184 | – | (14,203) |
| Transfer from Stage 2 to Stage 3 | – | – | – | – |
| New financial assets originated | 16,267 | – | – | 16,267 |
| Repayments during the year | (330,038) | (4,635) | (25,253) | (359,926) |
| Gross carrying amount as at31 December 2020 |
722,668 |
13,344 |
32,130 |
768,142 |
