Bank ABC Islamic: Third Quarter Financial Results - 30 September 2021

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Third Quarter Financial Results 30 September 2021 (Reviewed) Interim Consolidated Statement of Financial Position Interim Consolidated Statement of Income As at 30 September 2021 (Reviewed) Nine-months period ended 30 September 2021 (Reviewed) All Figures in US$ Thousand Reviewed 30 September 2021 Audited 31 December 2020 All Figures in US$ Thousand Reviewed Reviewed Three months ended 30 September Nine months ended 30 September 2021 2020 2021 2020 24 27 73 106 Income from investments 3,888 4,391 11,647 17,224 Income from Murabaha receivables 4,775 6,556 15,825 22,415 Ijarah income - net 1,192 1,687 3,725 6,080 9,879 45,825 ASSETS Bank balances Due from financial institutions 25,361 12,212 4,966 4,942 Investments 787,795 892,901 Murabaha receivables 735,009 1,234,588 Ijarah 142,264 159,219 222 174 5,876 9,493 1,701,493 2,313,529 Equipment Other assets TOTAL ASSETS LIABILITIES, EQUITY OF INVESTMENT ACCOUNT HOLDERS AND OWNERS’ EQUITY Liabilities Murabaha and other payables Other liabilities EQUITY OF INVESTMENT ACCOUNT HOLDERS 239,629 463,835 36,132 68,955 275,761 532,790 1,132,068 1,487,855 Reserves TOTAL LIABILITIES, EQUITY OF INVESTMENT ACCOUNT HOLDERS AND OWNERS’ EQUITY 132,500 12,661 31,270 (588) (1,827) (1,740) (4,177) (1,747) (2,407) (5,574) (15,550) Profit on Murabaha and other payables Return on equity of investment account holders 7,544 8,427 23,956 26,098 Gain on sale of investments - net 802 2,223 3,164 2,962 Fee and commission income - net 1,386 1,251 4,069 6,197 Total operating income 9,732 11,901 31,189 35,257 (Charge for) / reversal of expected credit losses - net NET OPERATING INCOME 132,500 Staff costs 161,164 160,384 Depreciation 293,664 292,884 1,701,493 2,313,529 Interim Consolidated Statement of Cash Flows Nine-months period ended 30 September 2021 (Reviewed) Income from financial institutions (370) 914 (2,544) (7,614) 9,362 9,357 32,103 27,643 1,333 961 3,641 3,486 28 22 71 66 OPERATING EXPENSES Owners’ equity Share capital OPERATING INCOME All Figures in US$ Thousand Reviewed 440 418 1,421 1,453 Total operating expenses 1,801 1,401 5,133 5,005 INCOME FOR THE PERIOD BEFORE ZAKAH 7,561 7,956 26,970 22,638 Other expenses (102) Zakah 7,459 NET INCOME FOR THE PERIOD (306) (99) 26,664 7,857 (297) 22,341 Nine months ended 30 September 2021 2020 Interim Consolidated Statement Of Changes In Owners’ Equity Nine-months period ended 30 September 2021 (Reviewed) Reserves OPERATING ACTIVITIES Net income for the period 26,664 22,341 Share capital Statutory reserve Investments fair value reserve Retained earnings Total reserves Total owners’ equity 132,500 34,209 408 125,767 160,384 292,884 Net income for the period - - - 26,664 26,664 26,664 Cumulative changes in fair value of equity investment - - (133) - Total comprehensive income for the period - - (133) 26,664 26,531 26,531 Dividend paid - - - (25,751) (25,751) (25,751) Adjustments for: Depreciation Gain on sale of investments - net (Reversal of) / charge for expected credit losses - net Operating income before changes in operating assets and liabilities 71 (3,164) (914) 22,657 66 (2,962) 7,614 27,059 Changes in operating assets and liabilities: Murabaha receivables All Figures in US$ Thousand 501,850 (55,965) As at 1 January 2021 (133) (133) 16,925 20,343 Other assets 3,628 1,918 Other liabilities (4,735) 34,354 At 30 September 2021 (Reviewed) 132,500 34,209 275 126,680 161,164 293,664 Murabaha and other payables (224,206) 158,396 As at 1 January 2020 132,500 31,348 1,087 200,016 232,451 364,951 Equity of investment account holders (355,787) (40,503) Net cash (used in) from operating activities (39,668) 145,602 Net income for the period - - - 22,341 22,341 22,341 Cumulative changes in fair value of equity investment - - (438) - Total comprehensive income for the period - - (438) 22,341 Dividend paid - - - 132,500 31,348 649 Ijarah INVESTING ACTIVITIES Purchase of investments Proceeds from sale / redemption of investments Purchase of equipment Net cash from (used in) investing activities (190,000) (284,411) 268,687 229,914 (119) 78,568 (7) (54,504) At 30 September 2020 (Reviewed) (438) 21,903 (100,000) (100,000) 122,357 154,354 (438) 21,903 (100,000) 286,854 FINANCING ACTIVITY Dividend paid to the shareholder (25,751) (100,000) Cash used in financing activity (25,751) (100,000) NET CHANGE IN CASH AND CASH EQUIVALENTS 13,149 (8,902) Cash and cash equivalents at the beginning of the period 12,212 16,683 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 25,361 7,781 T +973 1754 3000 F +973 1753 6379 www.bank-abc.com The above Interim Consolidated Statement of Financial Position, Interim Consolidated Statement of Income, Interim Consolidated Statement of Cash Flows and Interim Consolidated Statement of Changes in Owners’ Equity have been extracted from the Interim Condensed Consolidated Financial Statements of ABC Islamic Bank (E.C.) for the period ended 30th September 2021, which were approved by the Board of Directors and on which an unqualified review conclusion was issued by Ernst & Young, Kingdom of Bahrain, on 11 November 2021. P.O. Box 2808, Manama, Kingdom of Bahrain Bank ABC Islamic (ABC Islamic Bank (E.C.)) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain