Ibdar Bank: Condensed Consolidated Interim Financial Information - 30 September 2017

Transcription

1. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2017 CONDENSED CONSOLIDATED INCOME STATEMENT US $ 000’s for the nine months ended 30 September 2017 31 December 2016 (audited) 5,628 5,025 91,907 9,844 5,938 92,034 97,974 518 28,257 5,151 7,902 70,881 6,915 15,185 87,680 68,602 107,264 4,742 13,603 INCOME Income from investment banking services Income from sukuk Income from investment in equity securities Income from assets acquired for leasing, net Gain on sale of assets acquired for leasing Finance income Share of profit of equity-accounted investees Gain on sale of equity-accounted investees Gain on sale of investment in real estate Other income 337,125 387,925 Total income LIABILITIES Placements from financial institutions Financing liabilities Liabilities related to assets acquired for leasing Other liabilities 2,002 75,465 17,768 6,503 73,273 52,181 13,963 Total liabilities 95,235 145,920 OWNERS’ EQUITY Share capital Statutory reserve Retained earnings/(Accumulated losses) Property fair value reserve General reserve 233,000 676 498 302 4,618 300,000 676 (66,634) 610 4,618 Equity attributable to shareholders of Bank 239,094 239,270 2,796 2,735 Total owners’ equity 241,890 242,005 Total liabilities and owner’s equity 337,125 387,925 ASSETS Cash and balances with banks Placements with financial institutions Investment in sukuk Financing receivables Receivable from Ijarah investors Investment in equity securities Assets acquired for leasing Investment in real estate Equity-accounted investees Other assets Total assets Non-controlling interests US$ 000’s Nine months ended Three months ended 30 September 30 September 30 September 30 September 2017 2017 2016 2016 (reviewed) (reviewed) (reviewed) (reviewed) 30 September 2017 (reviewed) 702 3,892 1,847 776 2,173 728 196 300 623 853 5,243 (261) 5,759 284 948 196 2,434 205 659 79 57 290 125 288 2,041 444 1,776 382 5 116 12,090 14,603 1,703 4,764 EXPENSES Staff cost Finance expense on placements and financing liabilities Depreciation and amortization Other operating expenses 4,879 828 67 3,690 3,911 987 126 2,845 1,546 336 22 1,100 1,261 393 29 927 Total operating expenses 9,464 7,869 3,004 2,610 Profit/(loss) before fair value changes and impairment allowances 2,626 6,734 (1,301) 2,154 367 (963) 183 (15) 67 (500) (2,367) - (8,815) (1,514) (26,572) (1,216) (2,100) (14) - 141 - PROFIT/(LOSS) FOR THE PERIOD 193 (34,446) (1,132) 2,280 Attributable to: Shareholders of Bank Non-controlling interests 132 61 (36,043) 1,597 (1,160) 28 1,764 516 193 (34,446) (1,132) 2,280 Net fair value changes on investement securities Impairment allowances: (charge)/reversal: - Financing receivables - Investment in Sukuk - Investment securities - Investment in real estate - Equity accoumted investees CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN OWNERS’ EQUITY for the nine months ended 30 September 2017 US$ 000’s Equity attributable to shareholders of the Bank 30 September 2017 (reviewed) Balance at 1 January 2017 Profit for the period Fair value changes, net Total recognised income and expense for the period Adjustment of losses Balance at 30 September 2017 Share capital Statutory reserve Retained earnings/ (Accumulated losses) Investment fair value reserve Property fair value reserve General reserve Total 300,000 (67,000) 233,000 676 676 (66,634) 132 132 67,000 498 - 610 (308) (308) 302 4,618 4,618 239,270 132 (308) (176) 239,094 Non-controlling interests Total owners’ equity 2,735 61 61 2,796 242,005 193 (308) (115) 241,890 Equity attributable to shareholders of the Bank 30 September 2016 (reviewed) Balance at 1 January 2016 (Loss)/Profit for the period Cumulative changes in fair value Total recognised income and expense for the period Distribution to non-controlling interests Balance at 30 September 2016 Share capital 300,000 300,000 Statutory reserve 676 676 Retained earnings/ (Accumulated losses) (17,249) (36,043) (36,043) (53,292) Investment fair value reserve (107) 107 107 - Property fair value reserve 1,826 (149) (149) 1,677 General reserve 4,618 4,618 Total 289,764 (36,043) (42) (36,085) 253,679 Non-controlling interests 13,816 1,597 1,597 (177) 15,236 Total owners’ equity 303,580 (34,446) (42) (34,488) (177) 268,915 CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION 30 September 2017 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the nine months ended 30 September 2017 US$ 000’s Nine months ended 30 September 30 September 2017 2016 (reviewed) (reviewed) OPERATING ACTIVITIES Profit/(loss) for the period Adjustment for: Depreciation and amortization Net fair value changes on investment securities Share of profit of equity-accounted investees Gain on sale of equity-accounted investees Gain on sale of investment in sukuk Gain on sale of investment in real estate Impairment allowances Excess legal provision written back Other income Amortisation of discount, net Operating profit before changes in operating assets and liabilities 193 (34,446) 67 (367) (196) (300) (1,101) (623) 2,800 (200) 44 317 126 963 (196) (1,767) 40,076 (1,597) (207) 78 3,030 Changes in operating assets and liabilities: Financing receivables Receivables from ijarah investors Other assets Other liabilities Net cash generated from/(used in) operating activities (2,861) 9,247 8,796 4,065 19,564 220 (9,383) (2,780) (8,913) (177,989) 127,817 (1,584) 11,139 4,683 (141) 16,421 (101,214) 110,276 (297) 5,461 (19) 4,062 INVESTING ACTIVITIES Purchase of investment securities Proceeds from sale of investment securities Purchase of investment in real estate Proceeds from sale of investment in real estate Proceeds from sale of equity-accounted investees Payment for purchase of equipment Assets acquired for leasing, net Net cash (used in)/generated from investing activities (19,654) 18,269 FINANCING ACTIVITIES Placements from financial institutions Financing liabilities Non-controlling interests related to assets acquired for leasing, net (4,502) 2,193 - (4,163) 4,117 (177) Net cash used in financing activities (2,309) (223) NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS (2,399) 9,133 Cash and cash equivalents at 1 January 13,052 15,221 CASH AND CASH EQUIVALENTS AT 30 September 10,653 24,354 5,628 24,354 CASH AND CASH EQUIVALENTS comprise: Cash and bank balances Placements with financial institutions (with original maturity of 90 days or less) 5,025 - 10,653 24,354 The above has been extracted from 30 September condensed consolidated interim financial statements reviewed by KPMG. The financials have been approved by Board of Directors.