|
|
2024 |
2023 |
|
|
AED’000 |
AED’000 |
|
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
| Profit for the year before tax |
|
8,257 |
14,809 |
|
|
|
|
| Adjustments for: |
|
|
|
| Depreciation of property, fixtures and equipment |
|
10,417 |
6,568 |
| Gain on fair valuation of investment in property |
|
– |
(700) |
| Change in fair value of investment property |
|
– |
(1,417) |
| Share of profit/(loss) from equity accounted investees |
|
(1,301) |
399 |
| Dividend income from investments |
|
(23,602) |
(6,915) |
| (Profit)/loss on disposal of investments carried at fair value through profit or loss |
|
(1,376) |
1,478 |
| Net change in fair value of investments carried at fair value through profit or loss |
|
(39,244) |
240 |
| Net impairment loss on loans and advances |
|
46,600 |
23,668 |
| Impairment loss/(reversal) on Islamic financing and investing assets, net |
|
755 |
(1,436) |
| Net provision for employees’ end of service benefits |
|
1,624 |
1,986 |
|
|
|
|
|
|
2,130 |
38,680 |
| Changes in: |
|
|
|
| Islamic financing and investing assets |
|
2,060 |
9,932 |
| Loans and advances |
|
(235,357) |
101,810 |
| Interest receivable and other assets |
|
(18,381) |
8,212 |
| Insurance receivables and contract assets |
|
(20,546) |
5,275 |
| Customers’ deposits and margin accounts |
|
334,509 |
(497,985 |
| Interest payable and other liabilities |
|
(22,467) |
14,706 |
| Lease liabilities |
|
– |
(537) |
| Insurance and reinsurance contract liabilities |
|
15,971 |
(27,512) |
|
|
|
|
| Cash generated from/(used in) operating activities |
|
57,919 |
(347,419) |
| |
|
|
|
| Employees’ end of service benefits paid |
|
(364) |
(3,229) |
| Dividend received |
|
23,602 |
6,915 |
| Directors’ remuneration paid |
|
(3,598) |
(2,048) |
|
|
|
|
| Net cash generated from/(used in)generated from operating activities |
|
77,559 |
(345,781) |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
| Purchase of investments carried at fair value through other comprehensive income |
|
(11,124) |
(3,480) |
| Proceeds from sale of investments carried at fair value through other comprehensive income |
|
35,077 |
94,707 |
| Purchase of investments carried at fair value through profit or loss |
|
(44,439) |
(11,273) |
| Proceeds from sale of investments carried at fair value through profit or loss |
|
15,475 |
47,414 |
| Proceeds from redemption of fixed deposit |
|
– |
14,000 |
| Movement in investments carried at amortized cost |
|
(1) |
(44,916) |
| Purchase of investment property |
|
– |
(29,525) |
| Proceeds from disposal of investment property |
|
– |
4,800 |
| Purchase of property, fixtures and equipment |
|
(6,292) |
(30,149) |
| Proceeds from disposal of property, fixtures and equipment |
|
– |
11,786 |
|
|
|
|
| Net cash (used in)/generated from investing activities |
|
(11,304) |
53,365 |
