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 2022:
| 2,022 | ||||
| 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 2022 | 1,526,597 | 413,711 | 553,508 | 2,493,816 |
| Transfers | ||||
| Transfer from Stage 1 to Stage 2 | (3,758) | 3,758 | – | – |
| Transfer from Stage 1 to Stage 3 | (25,217) | – | 25,217 | – |
| Transfer from Stage 2 to Stage 3 | – | (17,126) | 17,126 | – |
| Transfer from Stage 3 to Stage 2 | – | 52,808 | (52,808) | – |
| Transfer from Stage 2 to Stage 1 | 7,959 | (7,959) | – | – |
| New financial assets originated | 214,753 | 8,567 | – | 223,320 |
| Repayments during the year | (173,932) | (80,740) | (14,195) | (268,867) |
| Reversal of no longer required impairment charges | – | – | (3,082) | (3,082) |
| Gross carrying amount as at 31 December 2022 |
1,546,402 |
373,019 |
525,766 |
2,445,187 |
| Islamic financing and investing activities | ||||
| Gross carrying amount as at 1 January 2022 | 16,314 | 4,662 | 72,288 | 93,264 |
| Transfers | – | – | – | – |
| Transfer from Stage 1 to Stage 2 | – | – | – | – |
| Transfer from Stage 1 to Stage 3 | – | – | – | – |
| Transfer from Stage 2 to Stage 3 | – | (138) | 138 | – |
| Transfer from Stage 3 to Stage 2 | – | – | – | – |
| Transfer from Stage 2 to Stage 1 | – | – | – | – |
| New financial assets originated | – | – | – | – |
| Repayments during the year | (5,550) | (1,490) | (2,972) | (10,012) |
| Gross carrying amount as at 31 December 2022 |
10,764 |
3,034 |
69,454 |
83,252 |
| 2022 | |||||
| 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 | 370,699 | – | – | 370,699 | |
| Due from banks at investment grade | 395,788 | – | – | 395,788 | |
| Financial assets measured at amortised cost at investment grade | – | – | – | – | |
766,487 |
– |
– |
766,487 |
||
There were no transfers between the stages during the year ended 31 December 2022.
| 2022 | ||||
| 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 2022 |
589,529 | 5,771 | 838 | 596,138 |
| Transfers | – | – | – | – |
| Transfer from Stage 1 to Stage 2 | – | – | – | – |
| Transfer from Stage 2 to Stage 3 | – | – | – | – |
| New financial assets originated | 8,655 | 973 | 108 | 9,736 |
| Repayments during the year | (100,478) | (166) | (1) | (100,645) |
| Other Movement | – | – | – | – |
| Gross carrying amount as at 31 December 2022 |
497,706 |
6,578 |
945 |
505,229 |
| 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 / write offs | (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.
| 2,021 | ||||
| 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 | (135,667) | (15) | – | (135,682) |
| Other Movement | (13,434) | (7,558) | (31,292) | (52,284) |
| Gross carrying amount as at 31 December 2021 |
589,529 |
5,771 |
838 |
596,138 |
