5.2.12 Gross carrying amount
Gross carrying amount
The following table further explains the changes in the gross carrying amount from 1 January to 31 December 2023:
| 2023 | |||||||
| 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 2023 |
1,546,402 | 373,019 | 525,766 | 2,445,187 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | (44,170) | 44,170 | – | – | |||
| Transfer from Stage 1 to Stage 3 | (6,030) | – | 6,030 | – | |||
| Transfer from Stage 2 to Stage 1 | 4,323 | (4,323) | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | (3,185) | 3,185 | – | |||
| Transfer from Stage 3 to Stage 1 | 2,262 | – | (2,262) | – | |||
| Transfer from Stage 3 to Stage 2 | – | 4,068 | (4,068) | – | |||
| New financial assets originated | 152,226 | 15,101 | 3,097 | 170,424 | |||
| Repayments during the year | (212,992) | (38,371) | (20,871) | i. | (272,234) | ||
| Reversal of no longer required impairment charges | – | – | (252) | (252) | |||
| Gross carrying amount as at 31 December 2023 |
1,442,021 | 390,479 | 510,625 | 2,343,125 | |||
| Islamic financing and investing activities | |||||||
| Gross carrying amount as at 1 January 2023 |
10,764 | 3,034 | 69,454 | 83,252 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | (7) | 7 | – | – | |||
| Transfer from Stage 1 to Stage 3 | (91) | – | 91 | – | |||
| Transfer from Stage 2 to Stage 1 | 21 | (21) | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | (2,770) | 2,770 | – | |||
| Transfer from Stage 3 to Stage 1 | – | – | – | – | |||
| Transfer from Stage 3 to Stage 2 | – | 10 | (10) | – | |||
| New financial assets originated | |||||||
| Repayments during the year | (6,933) | (256) | (2,743) | (9,932) | |||
| Gross carrying amount as at 31 December 2023 |
3,754 | 4 | 69,562 | 73,320 | |||
The following table further explains the changes in the gross carrying amount from 1 January to 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 | |||||||
| 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 |
||||||
| 2023 | |||||||
| 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 | 220,670 | – | – | 220,670 | |||
| Due from banks at investment grade | 74,670 | – | – | 74,670 | |||
| Financial assets measured at amortised cost at investment grade | 44,916 | – | – | 44,916 | |||
| 340,365 | – | – | 340,365 |
There were no transfers between the stages during the year ended 31 December 2023.
| 2023 | |||||||
| 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 2023 |
497,706 | 6,578 | 945 | 505,229 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | (4,770) | 4,770 | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | – | – | – | |||
| New financial assets originated | 10,511 | – | – | 10,511 | |||
| Repayments during the year | (64,428) | (1,506) | – | (65,934) | |||
| Other Movement | – | – | – | – | |||
| Gross carrying amount as at 31 December 2023 |
439,019 | 9,842 | 945 | 449,806 | |||
| 2022 | |||||||
| 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) | i. | (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 | |||
