Bahrain Development Bank: Consolidated Financial Statements - 31 March 2021

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INTERIM CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION For the three-month period ended 31 March 2021 (Reviewed) As at 31 March 2021 (Reviewed) (Audited) 31 March 31 December 2021 BD ’000 INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the three-month period ended 31 March 2021 (Reviewed) Three months ended 31 March 2021 2020 BD ’000 BD ’000 Income Islamic financing and interest income Islamic financing and interest expense Net islamic finance and interest income Fee and commission income Investment loss Rental income Other income Total operating income Expenses Staff costs Other operating expenses Total operating expenses Allowance for expected credit losses - net Net operating profit for the period Share of profit from associates Net profit for the period Profit attributable to: - Owners of the Bank - Non-controlling interest 2,044 (275) 2,034 (328) 1,769 76 (2) 323 18 2,184 1,706 125 (5) 351 18 2,195 (701) (1,020) (1,721) (171) 292 9 301 (1,056) (792) (1,848) 67 414 52 466 305 (4) 301 466 466 3,722 146,630 56,364 374 11,071 1,926 3,828 TOTAL ASSETS 226,483 230,038 2,568 LIABILITIES AND EQUITY Three months ended 31 March Three months ended 31 March 2020 BD ’000 ASSETS Cash and balances with Central Bank of Bahrain 2,936 Placements with banks and other financial institutions 6,707 Islamic financing and loans to customers 147,210 Investment securities 55,260 Investment in associates 383 Investment properties 10,943 Property and equipment 2,684 Other assets 3,915 Net profit for the period 2021 BD ’000 2020 BD ’000 301 466 Items that will be reclassified to profit or loss in subsequent periods: Net unrealized (loss) / gains in cash flow hedges Changes in fair value of investments classified as fair value through other comprehensive income - debt instruments Total comprehensive income (loss) for the period (40) 257 12 (1,945) 273 (1,222) 277 (4) (1,222) - 273 (1,222) Total comprehensive income (loss) attributable to: Liabilities Term loans Deposits Other liabilities 35,055 121,500 4,124 35,304 118,030 4,444 Total liabilities 160,679 157,778 Equity Share capital Statutory reserve Other capital contribution Other reserves Accumulated losses 65,000 1,186 4,048 1,118 (2,351) 65,000 1,186 4,048 1,146 (2,656) Equity attributable to owners of the Bank Non-controlling interest 69,001 358 68,724 (19) 69,359 230,038 68,705 226,483 Total equity TOTAL LIABILITIES AND EQUITY - Owners of the Bank - Non-controlling interest INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the three-month period ended 31 March 2021 (Reviewed) Equity attributable to owners of the bank Equity attributable to owners of the bank Other Share Statutory capital Other Accumulated capital reserve contribution reserves losses Total Non controlling Total interest equity Share capital Statutory reserve Other capital contribution Other reserves BD ‘000 BD ‘000 BD ‘000 BD ‘000 65,000 1,186 4,048 654 - - - 492 - - - - 65,000 1,186 4,048 1,146 (2,656) BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 65,000 1,186 4,048 1,146 (2,656) 68,724 (19) 68,705 Total comprehensive income for the period - - - (28) Minority interest movement - - - - As at 31 March 2021 (Reviewed) 65,000 1,186 4,048 1,118 As at 1 January 2021 305 277 - - (2,351) 69,001 As at 1 January 2020 (4) 273 381 381 Total comprehensive income for the year Recognition of modification loss net of government grant Minority interest movement 358 69,359 As at 31 December 2020 (Audited) INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS For the three-month period ended 31 March 2021 (Reviewed) Accumulated losses Total BD ‘000 BD ‘000 (1,544) Non controlling interest Total equity BD ‘000 BD ‘000 69,344 (18) 69,326 563 1,055 - 1,055 (1,675) - (1,675) - (1) (1,675) (1) 68,724 (19) 68,705 2021 BD ’000 2020 BD ’000 OPERATING ACTIVITIES Net profit for the period Adjustments for: Depreciation Allowance for expected credit losses - net Changes in fair value of investments classified as FVTPL Changes in revaluation of loans and deposits classified as FVTPL Share of profit from associates (Gain) loss on foreign currency translation 301 466 240 302 202 56 2 5 (5) (9) (10) (52) 20 Operating profit before changes in operating assets and liabilities Changes in operating assets and liabilities: Placements with banks and other financial institutions having original maturities of more than 90 days Islamic financing and loans to customers Other assets Deposits Other liabilities 821 697 (38) (855) (139) 3,856 (299) 7,342 (6,607) 5 16,267 (134) Net cash flow from operating activities 3,346 17,570 INVESTING ACTIVITIES Additions to property and equipment Purchase of investment securities Proceeds from sale and maturity of investment securities Net cash flow from (used in) investing activities (897) (321) (17) (10,601) 1,432 214 3,250 (7,368) FINANCING ACTIVITY Repayment of term loans (249) (252) Net cash flow used in financing activity (249) (252) NET CHANGE IN CASH AND CASH EQUIVALENTS 3,311 9,950 Cash and cash equivalents at 1 January 3,980 7,759 CASH AND CASH EQUIVALENTS AT 31 MARCH 7,291 17,709 Additional information: Islamic financing and interest received Islamic financing and interest paid 1,867 106 1,889 131 *The addition to property and equipment and other liabilities of BD nil thousand (31 March 2020: BD 714 thousand) is a non-cash item. These statements have been extracted from the interim condensed consolidated financial statements for the three months period ended 31 March 2021 which were reviewed by Ernst & Young who expressed an unqualified opinion on 12 May 2021. Khalid Al Rumaihi Chairman Sanjeev Paul Group Chief Executive Officer