BMB Investment Bank: Financial Statements - 30 September 2017

Transcription

1. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 September 2017 (Reviewed) Reviewed 30 September 2017 US$ '000 Audited 31 December 2016 US$ '000 ASSETS Balances with banks and financial institutions Treasury bills and placements with banks Investments at fair value through profit or loss Loans and advances Available-for-sale investments Held-to-maturity investment Other assets 16,710 28,708 9,173 129,606 3,369 3,451 40,374 4,207 1,149 123,958 5,021 179 2,464 TOTAL ASSETS 191,017 177,352 LIABILITIES AND EQUITY Due to financial institutions Due to customers Other liabilities 143,900 3,129 1,328 126,567 8,405 2,443 Total liabilities 148,357 137,415 EQUITY Share capital Accumulated losses Fair value reserve 60,501 (17,841) - Total equity TOTAL LIABILITIES AND EQUITY 60,501 (21,481) 917 42,660 39,937 191,017 177,352 Share capital Accumulated Fair value losses reserve US$ '000 US$ '000 US$ '000 US$ '000 60,501 (21,481) 917 39,937 2017 US$ '000 2016 US$ '000 OPERATING INCOME Interest income Interest expense 2,926 (82) 2,747 (244) 8,708 (209) 8,051 (837) Net interest income Investment banking income Other income Foreign exchange gain (loss) 2,844 59 63 22 2,503 177 70 (17) 8,499 26 150 97 7,214 478 300 (66) Total operating income 2,988 2,733 8,772 7,926 Staff expenses Premises expenses Other operating expenses 454 130 221 772 59 220 2,005 304 789 2,313 229 574 Total operating expenses 805 1,051 3,098 3,116 OPERATING ACTIVITIES Net profit for the period 3,640 4,633 Adjustments for: Impairment provisions - net Depreciation 2,034 57 177 34 (8,024) (7,398) 635 (5) (1,044) 17,333 (5,276) (1,115) (1,102) (1,801) 3,207 27 300 11,406 2,411 (1,210) Net cash from operating activities 837 18,082 NET CHANGE IN CASH AND CASH EQUIVALENTS 837 18,082 Changes in operating assets and liabilities: Investments at fair value through profit or loss Loans and advances Available-for-sale investments Held-to-maturity investment Other assets Due to financial institutions Due to customers Other liabilities NET PROFIT FOR THE PERIOD BEFORE IMPAIRMENT PROVISIONS 2,183 1,682 5,674 4,810 Cash and cash equivalents at 1 January 44,581 48,371 Impairment provisions - net (750) (139) (2,034) (177) CASH AND CASH EQUIVALENTS AT 30 SEPTEMBER 45,418 66,453 NET PROFIT FOR THE PERIOD 1,433 1,821 3,640 4,633 CASH AND CASH EQUIVALENTS COMPRISE: Balances with banks and financial institutions 16,710 14,052 0.59 0.75 1.50 1.91 Treasury bills and placements with banks with original maturities of three months or less 28,708 52,401 45,418 66,453 BASIC AND DILUTED EARNINGS PER SHARE (IN US$ CENTS) Three-month period ended 30 September - 3,640 (917) 2,723 (17,841) - 42,660 Balance at 1 January 2016 60,501 (26,554) 1,315 35,262 - 4,633 (380) 4,253 60,501 (21,921) 935 39,515 Nine-month period ended 30 September 2017 US$ '000 2016 US$ '000 2017 US$ '000 2016 US$ '000 1,433 1,821 3,640 4,633 NET PROFIT FOR THE PERIOD 60,501 Balance at 30 September 2016 2016 US$ '000 Total equity Balance at 30 September 2017 Total comprehensive income (loss) for the period 2017 US$ '000 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS For the nine-month period ended 30 September 2017 (Reviewed) Nine-month period ended 30 September 2017 2016 US$ '000 US$ '000 INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the nine-month period ended 30 September 2017 (Reviewed) INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the nine-month period ended 30 September 2017 (Reviewed) Total comprehensive income (loss) for the period Nine-month period ended 30 September OPERATING EXPENSES LIABILITIES Balance at 1 January 2017 INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME For the nine-month period ended 30 September 2017 (Reviewed) Three-month period ended 30 September These Interim condensed consolidated financial statements were approved by the Board of Directors on 23 October 2017 and signed on its behalf by: Wilson S Benjamin Chairman Murat Solak Vice Chairman Gaurav Baid Acting Chief Executive Officer Other comprehensive income (loss): Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods: Fair value reserves (available-for-sale investments): Net amount transferred to statement of income on sale/impairment - - - 21 Net changes in fair value during the period - 28 (917) (401) These interim condensed consolidated financial statements were extracted from reviewed interim condensed consolidated financial statements on which Ernst and Young issued an unqualified review report. Total other comprehensive income (loss) for the period - 28 (917) (380) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1,433 1,849 2,723 4,253 Please refer to interim condensed consolidated financial statements available on the Bank’s website: www.bmb.com.bh Bahrain Middle East Bank B.S.C. is licensed as conventional wholesale bank by the Central Bank of Bahrain