GFH Financial Group Interim Financial Information 1Q 2017

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CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION Three months ended CONDENSED CONSOLIDATED INCOME STATEMENT for the three months ended 31 March 2017 / US$ 000’s for the three months ended 31 March 2017 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 March 2017 / US$ 000’s ASSETS Cash and bank balances Placements with financial institutions Financing assets Investment securities Assets acquired-for-leasing Investment properties Development properties Equity-accounted investees Intangible assets Property, plant and equipment Other assets Total assets LIABILITIES Investors’ funds Placements from financial institutions, other entities and individuals Customer current accounts Financing liabilities Other liabilities Total liabilities Equity of investment account holders OWNERS’ EQUITY Share capital Treasury shares Capital adjustment account Statutory reserve Retained earnings Investment fair value reserve Share grant reserve Foreign currency translation reserve Total equity attributable to shareholders of the Bank Non-controlling interests Total owners’ equity Total liabilities, equity of investment account holders and owners’ equity CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN OWNERS’ EQUITY for the three months ended 31 March 2017 / (US$ 000’s) (reviewed) Balance at 1 January 2017 Profit for the period Total recognised income and expense Bonus shares issued Dividends to shareholders Transfer to zakah and charity fund Acquisition of additional interests in a subsidiary Changes in non-controlling interests Derecognition of a subsidiary Balance at 31 March 2017 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN OWNERS’ EQUITY (continued) for the three months ended 31 March 2017 / (US$ 000’s) (reviewed) Balance at 1 January 2016 Profit for the period Fair value changes Total recognised income and expense Purchase of treasury shares Sale of treasury shares Loss on sale of treasury shares, net Balance at 31 March 2016 31 March 2017 (reviewed) 31 December 2016 (audited) 31 March 2016 (reviewed) 126,432 183,577 975,542 560,801 244,703 485,758 280,972 113,408 143,031 126,023 3,240,247 156,448 213,898 961,490 527,203 246,257 488,436 280,972 79,010 54,891 169,153 125,643 3,303,401 84,378 143,641 897,057 582,979 200,229 311,395 179,453 81,399 25,472 196,296 2,702,299 39,259 595,127 183,533 174,774 190,517 1,183,210 992,005 44,565 570,515 192,783 168,992 182,649 1,159,504 1,022,190 13,541 376,069 174,526 169,400 103,946 837,482 965,168 657,794 (340) 24,320 95,475 110,108 862 (10,614) 877,605 187,427 1,065,032 3,240,247 597,995 (340) 24,320 93,768 201,993 902 (10,614) 908,024 213,683 1,121,707 3,303,401 597,995 (8,873) 22,392 72,055 12,645 806 893 697,913 201,736 899,649 2,702,299 Attributable to shareholders of the Bank Share capital 597,995 59,799 Capital Treasury adjustment shares account (340) 24,320 - 657,794 (340) 24,320 Treasury shares (4,053) (5,095) 275 (8,873) Capital adjustment account 22,420 (28) 22,392 Statutory reserve 93,768 1,707 95,475 Retained earnings 201,993 31,915 31,915 (59,799) (59,799) (3,509) 5,458 (6,151) 110,108 Foreign Share currency grant translation reserve reserve 902 (10,614) (40) 862 (10,614) Total 908,024 31,915 31,915 (59,799) (3,509) 7,125 (6,151) 877,605 Non – controlling interests 213,683 1,636 1,636 (25,186) 6,151 (8,857) 187,427 Total owners’ equity 1,121,707 33,551 33,551 (59,799) (3,509) (18,061) (8,857) 1,065,032 Total 695,661 6,064 1,036 7,100 (5,095) 275 (28) 697,913 Non – controlling interests 197,760 3,976 3,976 201,736 Total owners’ equity 893,421 10,040 1,036 11,076 (5,095) 275 (28) 899,649 Attributable to shareholders of the Bank Share capital 597,995 597,995 Statutory reserve 72,055 72,055 Retained earnings 6,581 6,064 6,064 12,645 Investment fair value Share grant reserve reserve (230) 893 1,036 1,036 806 893 The Board of Directors approved the condensed consolidated interim financial information on 2 May 2017, and signed on its behalf by: H.E. Shaikh Ahmed Bin Khalifa Al-Khalifa Chairman Ahmed Al Mutawa Vice Chairman Hisham Alrayes Chief Executive Officer & Board Member “The above Condensed Consolidated Balance Sheet, Income Statement, Statement of Cash Flow and the Changes in Owners’ Equity have been extracted from Condensed Consolidated Interim Financial Statements of GFH Financial Group B.S.C. for the three months ended 31st March 2017, which were reviewed by KPMG, who have expressed an Unqualified Opinion”. Income from investment banking services Fee and commission income Income from placements with financial institutions Income from financing assets and assets acquired-for-leasing Share of profits of equity-accounted investees, net Income from investment securities, net Gain on sale of a subsidiary Foreign exchange gain, net Other income Operating income before return to investment account holders and finance expenses Return to investment account holders before Group’s share as Mudarib Group’s share as Mudarib Return to investment account holders Less: Finance expense Operating income Income from settlement of litigations Total income Staff cost Investment advisory expenses Other operating expenses Total expenses Profit for the period before impairment Impairment allowances reversal / (charge) for the period PROFIT FOR THE PERIOD Profit for the period attributable to: Shareholders of the Bank Non-controlling interests Earnings per share Basic earnings per share (US cents) Diluted earnings per share (US cents) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the three months ended 31 March 2017 / US$ 000’s OPERATING ACTIVITIES Profit for the period Adjustments for: Fair value changes in investment securities Income from investment securities Share of profit of equity-accounted investees Foreign exchange (gain) / loss Gain on sale of a subsidiary Other income Finance expenses Impairment allowances reversal / (charge) Depreciation and amortisation Changes in: Placements with financial institutions (more than 3 months) Financing assets Assets acquired for leasing Other assets CBB Reserve balance Investors’ funds Placements from financial, other entities and individuals Customer current accounts Equity of investment account holders Other liabilities Net cash used in operating activities INVESTING ACTIVITIES Payment for purchase of equipment, net Purchase of investment securities Proceeds from sale of a subsidiary Proceeds from sale of investment securities Dividend income from investments Net cash generated from / (used in) investing activities FINANCING ACTIVITIES Financing liabilities, net Finance expense paid Dividend paid Acquisition of additional stake in a subsidiary Purchase of treasury shares Net cash used in financing activities Net decrease in cash and cash equivalents during the period Cash and cash equivalents at 1 January CASH AND CASH EQUIVALENTS AT 31 March Cash and cash equivalents comprise: Cash and balances with banks (excluding CBB Reserve balance) Placements with financial institutions (less than 3 months) 31 March 2017 (reviewed) 12,156 1,713 609 17,746 1,120 2,812 25,600 262 3,439 65,457 (11,016) 5,875 (5,141) (9,237) 51,079 51,079 10,619 2,550 10,204 23,373 27,706 5,845 33,551 31 March 2016 (reviewed) 8,747 469 16,165 125 1,232 417 6,396 33,551 (9,953) 5,703 (4,250) (3,972) 25,329 3,807 29,136 7,329 3,244 7,065 17,638 11,498 (1,458) 10,040 31,915 1,636 33,551 6,064 3,976 10,040 1.28 1.28 0.27 0.27 31 March 2017 (reviewed) 31 March 2016 (reviewed) 33,551 10,040 (2,812) (1,120) (262) (25,600) 9,237 (5,845) 413 7,562 1,734 (3,906) (125) (417) (9,789) 3,972 1,458 480 3,447 54 (4,952) 1,554 2,279 1,817 (5,306) 24,612 (9,250) (30,185) 9,067 (2,748) (37,636) (20,359) 20,703 305 (14,187) 35,979 20,474 20,253 (32,031) (3,052) (477) (45,840) 52,966 5,565 2,812 15,026 (40) (30,010) 20,594 3,658 (5,798) 10,042 (7,902) (59,799) (15,228) (72,887) (60,609) 312,572 251,963 (2,519) (4,820) (7,339) (16,189) 194,460 178,271 73,494 178,469 251,963 34,630 143,641 178,271