Ithmaar Bank: Condensed Consolidated Interim Financial Information - 31 September 2017

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1. INTERIM CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2017 INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION INTERIM CONDENSED CONSOLIDATED INCOME STATEMENT (All amounts expressed in thousands of Bahraini Dinars unless otherwise stated) (All amounts expressed in thousands of Bahraini Dinars unless otherwise stated) At 30 September 2017 (Reviewed) Nine months ended 30 September 2017 (Reviewed) ASSETS INCOME Cash and balances with banks and central banks Income from unrestricted investment accounts 218,329 Three months ended 30 September 2017 (Reviewed) 44,914 15,595 (25,351) (8,987) Less: return to unrestricted investment accounts and Commodity and other placements with banks, financial and other institutions 100,937 Murabaha and other financings 1,807,581 Musharaka financing 130,926 Investment in associates 95 Sukuk and investment securities 686,100 Restricted investment accounts 27,183 Assets acquired for leasing 110,103 Investment in real estate 3,869 Other assets 72,798 Fixed assets 22,421 Intangible assets 62,749 Total assets 3,243,091 impairment provisions Group’s share of income from unrestricted investment accounts as a Mudarib 19,563 6,608 Income from murabaha and other financings 46,448 15,438 Income from other investments 34,386 9,698 Other income 12,302 4,512 Total income 112,699 36,256 Less: profit paid to banks, financial and other institutions – net (46,829) (16,148) Operating income 65,870 20,108 (43,773) (15,377) EXPENSES Administrative and general expenses Depreciation and amortization Total expenses Net income before provision for impairment and overseas taxation LIABILITIES, EQUITY OF UNRESTRICTED INVESTMENT ACCOUNTHOLDERS, MINORITY INTEREST AND OWNERS’ EQUITY Provision for impairment – net (6,834) (2,177) (50,607) (17,554) 15,263 2,554 (444) 1,030 Net income before overseas taxation 14,819 3,584 461,575 Overseas taxation (9,026) (2,172) 729,571 NET INCOME FOR THE PERIOD 5,793 1,412 Other liabilities 140,155 Attributable to: Total liabilities 1,974,490 Customers’ current accounts 643,189 Due to banks, financial and other institutions Due to investors Equity of unrestricted investment accountholders 1,064,738 Equity holders of the Bank 1,733 190 Minority interests 4,060 1,222 Basic and diluted earnings per share Minority interest 5,793 1,412 Fils 1.73 Fils 0.19 45,559 Total liabilities, equity of unrestricted investment accountholders and minority interest 3,084,787 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (All amounts expressed in thousands of Bahraini Dinars unless otherwise stated) 100,000 Nine months ended Reserves 35,294 Retained earnings 23,010 30 September 2017 (Reviewed) Share capital Total owners’ equity 158,304 OPERATING ACTIVITIES Net income before overseas taxation 14,819 Adjustments for: Total liabilities, equity of unrestricted investment accountholders, minority interest and owners’ equity 3,243,091 Depreciation and amortization 6,834 Share of loss after tax from associates 70 Provision for impairment – net 444 Gain on sale of fixed assets (61) Operating income before changes in operating assets and liabilities INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN OWNERS’ EQUITY including with central banks relating to minimum reserve (All amounts expressed in thousands of Bahraini Dinars unless otherwise stated) requirement Share capital Investments Investment in fair value real estate fair reserve value reserve Foreign currency translation (15,771) (Increase)/decrease in operating assets: Reserves 22,106 Balances with banks maturing after ninety days and Other reserves Total reserves Retained Earnings Total owners’ equity Murabaha and other financings (5,271) Musharaka financing (43,403) Other assets (3,622) Increase/(decrease) in operating liabilities: At 1 January 2017 (Reviewed) - - - - - - - - Balances transferred as part of reorganization (1 January 2017) Customers’ current accounts 50,412 Due to banks, financial and other institutions 32,933 Due to investors 18,124 Other liabilities 100,000 Net income for the period - 5,428 - 797 - (8,823) 40,280 - - 37,682 - 21,277 1,733 158,959 1,733 839 Decrease in equity of unrestricted investment accountholders 22,916 Taxes paid (7,100) Net cash provided by operating activities 72,163 INVESTING ACTIVITIES Net (increase)/decrease: Movement in fair value of sukuk and investment securities - (1,729) - - - (1,729) - (1,729) Assets acquired for leasing (13,514) Sukuk and Investment securities (75,104) Purchase of fixed assets Net cash used in investing activities Foreign currency translation adjustments - At 30 September 2017 (Reviewed) 100,000 (5) 3,694 (6) 791 (648) - (9,471) 40,280 (659) 35,294 - 23,010 (659) 158,304 (2,253) (90,871) Foreign currency translation adjustments 252 Net decrease in cash and cash equivalents (18,456) Cash and cash equivalents at the beginning of the period 260,993 Cash and cash equivalents at the end of the period 242,537 The above Interim Condensed Consolidated Statement of Financial Position, Interim Condensed Consolidated Income Statement, Interim Condensed Consolidated Statement of Changes in Owners’ Equity and Interim Condensed Consolidated Statement of Cash Flows have been extracted from the Interim Condensed Consolidated Financial Information of Ithmaar Bank B.S.C.(c) for the nine month period ended 30 September 2017, which were approved for issue by the Board of Directors and reviewed by PricewaterhouseCoopers ME Limited, Kingdom of Bahrain, who expressed an unqualified review conclusion on 13 November 2017. HRH Prince Amr Mohamed Al Faisal Chairman Dr. Amani Khaled Bouresli Director Ithmaar Bank B.S.C.(c), C.R.: 99336-1, P.O. Box 2820, Seef Tower, Seef District, Kingdom of Bahrain. Tel: (+973) 17585000, Fax: (+973) 17585151, Email: info@ithmaarbank.com, Website: www.ithmaarbank.com Licensed as an Islamic retail bank by the Central Bank of Bahrain Ahmed Abdul Rahim CEO