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 2024:
| 2024 | |||||||
| 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 2024 | 1,442,021 | 390,479 | 510,625 | 2,343,125 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | (8,989) | 8,989 | – | – | |||
| Transfer from Stage 1 to Stage 3 | (5,811) | 5,811 | |||||
| Transfer from Stage 2 to Stage 1 | 4,499 | (4,499) | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | (4,330) | 4,330 | – | |||
| Transfer from Stage 3 to Stage 1 | 1 | – | (1) | – | |||
| Transfer from Stage 3 to Stage 2 | – | 33 | (33) | – | |||
| New financial assets originated | 414,411 | 19,025 | 1,959 | 435,395 | |||
| Repayments during the year | (93,664) | (93,281) | (27,101) | i. | (214,048) | ||
| Reversal of no longer required impairment charges | – | – | – | – | |||
| Gross carrying amount as at 31 December 2024 | 1,752,466 | 316,416 | 495,590 | 2,564,472 | |||
| Islamic financing and investing activities | |||||||
| Gross carrying amount as at 1 January 2024 | 3,754 | 4 | 69,562 | 73,320 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | – | – | – | – | |||
| Transfer from Stage 1 to Stage 3 | (2) | – | 2 | – | |||
| Transfer from Stage 2 to Stage 1 | – | – | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | (1) | 1 | – | |||
| Transfer from Stage 3 to Stage 1 | – | – | – | – | |||
| Transfer from Stage 3 to Stage 2 | – | – | – | – | |||
| New financial assets originated | – | – | – | – | |||
| Repayments during the year | (1,029) | (2) | (1,029) | (2,060) | |||
| Gross carrying amount as at 31 December 2024 | 2,723 | 1 | 68,536 | 71,260 | |||
| 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 | (6,931) | (256) | (2,745) | (9,932) | |||
| Gross carrying amount as at 31 December 2023 | 3,756 | 4 | 69,560 | 73,320 | |||
| 2024 | |||||||
| 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 | 229,312 | – | – | 229,312 | |||
| Due from banks at investment grade | 167,792 | – | – | 167,792 | |||
| Financial assets measured at amortised cost at investment grade | 64,917 | – | – | 64,917 | |||
| 462,021 | – | – | 462,021 |
There were no transfers between the stages during the year ended 31 December 2024.
| 2024 | |||||||
| 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 | 439,019 | 8,842 | 945 | 448,806 | |||
| Transfers | |||||||
| Transfer from Stage 1 to Stage 2 | – | – | – | – | |||
| Transfer from Stage 2 to Stage 3 | – | – | – | – | |||
| New financial assets originated | 47,145 | 611 | – | 47,756 | |||
| Repayments during the year | (84,682) | – | (9) | (84,691) | |||
| Other Movement | – | – | – | – | |||
| Gross carrying amount as at 31 December 2023 | 401,482 | 9,453 | 936 | 411,871 | |||
| 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 | 74,779 | – | – | 74,779 | |||
| 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 | |||
