Consolidated Statement of Changes in Equity
Consolidated statement of changes in equity
for the year ended 31 December
| ’ | ||||||||||||
| Employees share-based | Proposed | Attributable to 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 2021 | 310,050 | (21,402) | (1,750) | 150,123 | (76,998) | 19,324 | 1,957 | 279,850 | 15,000 | 676,154 | 93,582 | 769,736 |
| Gain on disposal of investment carried at fair | ||||||||||||
| value through other comprehensive income | – | – | – | – | -1,995 | 1,995 | – | – | – | – | – | – |
| Profit for the year | – | – | – | – | – | 15,484 | – | – | – | 15,484 | 7,274 | 22,758 |
| Net changes in fair value of investments | ||||||||||||
| carried at fair value through other comprehensive | – | – | – | – | 57,193 | – | – | – | – | 57,193 | 3,844 | 61,037 |
| income | ||||||||||||
| —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | |
| Total comprehensive income for the year | – | – | – | – | 57,193 | 15,484 | – | – | – | 72,677 | 11,118 | 83,795 |
| Directors remuneration paid | – | – | – | – | – | – | -1,957 | – | – | -1,957 | – | -1,957 |
| Proposed directors’ remuneration | – | – | – | – | – | -2,251 | 2,251 | – | – | – | – | – |
| Cash dividend paid | – | – | – | – | – | -5,749 | – | – | – | -5,749 | – | -5,749 |
| Transfer to statutory reserve | – | – | – | 1,548 | – | -1,548 | – | – | – | – | – | – |
| Movement in Tier 1 Sukuk | – | – | – | – | – | – | – | -3,650 | – | -3,650 | – | -3,650 |
| Write off Treasury shares | -7,212 | -8,421 | – | – | – | -6,630 | – | – | – | -22,263 | – | -22,263 |
| Tier 1 bonds coupon paid | – | – | – | – | – | -1,238 | – | – | – | -1,238 | – | -1,238 |
| Tier 1 SUKUK coupon paid | – | – | – | – | – | -17,008 | – | – | – | -17,008 | – | -17,008 |
| —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | |
| Balance at 31 December 2021 | 302,838 | (29,823) | (1,750) | 151,671 | (21,800) | 2,379 | 2,251 | 276,200 | 15,000 | 696,966 | 104,700 | 801,666 |
| ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | |
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 2022 | 302,838 | (29,823) | (1,750) | 151,671 | (21,800) | 2,379 | 2,251 | 276,200 | 15,000 | 696,966 | 104,700 | 801,666 |
| Gain on disposal of investment carried at fair | ||||||||||||
| value through other comprehensive income | – | – | – | – | (5,324) | 5,324 | – | – | – | – | – | – |
| Profit for the year | – | – | – | – | – | 16,562 | – | – | – | 16,562 | 4,223 | 20,785 |
| Net changes in fair value of investments | ||||||||||||
| carried at fair value through other comprehensive | – | – | – | – | (29,844) | – | – | – | – | (29,844) | (312) | (30,156) |
| income | ||||||||||||
| —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | |
| Total comprehensive income for the year | – | – | – | – | (29,844) | 16,562 | – | – | – | (13,282) | 3,911 | (9,371) |
| Directors’ remuneration paid | – | – | – | – | – | – | (2,251) | – | – | (2,251) | – | (2,251) |
| Proposed director’s remuneration | – | – | – | – | – | (2,048) | 2,048 | – | – | – | – | – |
| Purchase of treasury shares | – | (16,712) | – | – | – | – | – | – | – | (16,712) | – | (16,712) |
| Tier 1 bonds coupon paid | – | – | – | – | – | (1,238) | – | – | – | (1,238) | – | (1,238) |
| Tier 1 SUKUK coupon paid | – | – | – | – | – | (16,907) | – | – | – | (16,907) | – | (16,907) |
| —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | —————————————– | |
| Balance at 31 December 2022 | 302,838 | (46,535) | (1,750) | 151,671 | (56,968) | 4,072 | 2,048 | 276,200 | 15,000 | 646,576 | 108,611 | 755,187 |
| ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== | ============== |
The notes on pages 15 to 113 are an integral part of this consolidated financial statements.
