Consolidated Statement of Financial Position
as at 31 December
|
|
31 December |
31 December |
|
|
2024 |
2023 |
|
Note |
AED’000 |
AED’000 |
|
|
|
|
| Assets |
|
|
|
| Cash on hand |
17 |
8,521 |
7,033 |
| Due from banks |
17 |
388,583 |
288,416 |
| Investment securities |
18 |
212,443 |
172,346 |
| Loans and advances |
19 |
2,064,427 |
1,875,670 |
| Islamic financing and investing assets |
20 |
11,325 |
14,140 |
| Investment in equity accounted investees |
21 |
83,515 |
82,214 |
| Interest receivable and other assets |
22 |
81,641 |
63,260 |
| Insurance and reinsurance contract assets |
|
127,878 |
107,332 |
| Property, fixtures and equipment |
23 |
113,339 |
117,464 |
| Intangibles |
24 |
6,705 |
6,705 |
| Investment properties |
25 |
30,942 |
30,942 |
| Total assets |
|
3,129,319 |
2,765,522 |
| |
|
|
|
| Liabilities and equity |
|
|
|
| Liabilities |
|
|
|
| Customers’ deposits and margin accounts |
26 |
1,897,198 |
1,562,689 |
| Due to banks and other financial institutions |
17 |
42,863 |
32,795 |
| Short term borrowings |
27.1 |
295,000 |
215,000 |
| Medium-term loan |
27.2 |
– |
33,333 |
| Insurance and reinsurance contract liabilities |
|
188,997 |
173,026 |
| Interest payable and other liabilities |
28 |
51,927 |
73,625 |
| Provision for employees’ end of service benefits |
29 |
14,388 |
13,128 |
| Total liabilities |
|
2,490,373 |
2,103,596 |
|
|
31 December |
31 December |
|
|
2024 |
2023 |
| |
Note |
AED’000 |
AED’000 |
| |
|
|
|
| Equity |
|
|
|
| Share capital |
30 |
302,838 |
302,838 |
| Treasury shares |
31 |
(54,272) |
(51,196) |
| Employees’ share-based payment scheme |
32 |
(1,750) |
(1,750) |
| Statutory reserve |
33 |
73,179 |
151,671 |
| Fair value reserve |
|
19,692 |
(56,061) |
| Impairment reserve not available for distribution |
|
30,000 |
– |
| Accumulated losses |
|
(55,677) |
(18,844) |
| Tier 1 Sukuk |
34 |
276,100 |
276,100 |
| Tier 1 Bonds |
34 |
15,000 |
15,000 |
| Proposed directors’ remuneration |
|
1,412 |
3,598 |
| |
|
606,522 |
621,356 |
| Non-controlling interests |
|
32,424 |
40,570 |
| |
|
|
|
| Total equity |
|
638,946 |
661,926 |
|
|
|
|
| Total liabilities and equity |
|
3,129,319 |
2,765,522 |
| |
|
|
|
| Commitments and contingent liabilities |
35 |
420,723 |
404,935 |
To the best of our knowledge, the consolidated financial statements present fairly in all material respects the consolidated financial position, consolidated financial performance and consolidated cash flows of the Group as of, and for, the periods presented therein.
