Public Islamic Fund Interim Financial Statements - 1Q 2017

Transcription

1. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2017 Note ASSETS Cash and balances with banks Financial assets held-for-trading Derivative financial assets Financial investments available-for-sale Financial investments held-to-maturity Financing and advances Other assets Statutory deposits with Bank Negara Malaysia Deferred tax assets Collective investment Investment in an associated company Property and equipment A8 A9 A10 A11 A12 TOTAL ASSETS LIABILITIES Deposits from customers Deposits from banks Bills and acceptances payable Recourse obligations on financing sold to Cagamas Derivative financial liabilities Subordinated Sukuk Murabahah Other liabilities Provision for zakat and taxation A13 A14 A15 TOTAL LIABILITIES 31 March 2017 RM’000 31 December 2016 RM’000 2,085,765 2,317,866 14,282 5,795,264 2,993,112 38,405,042 77,698 1,522,950 7,699 501,426 30,000 1,216 651,382 495,364 18,153 6,140,438 2,985,266 37,235,682 85,913 1,518,000 4,242 497,836 30,000 1,250 53,752,320 49,663,526 46,981,286 1,753,544 679 500,016 25,893 499,437 333,909 47,679 42,473,074 2,322,128 1,675 500,016 23,356 499,374 215,490 43,251 50,142,443 46,078,364 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 1
2. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2017 Note EQUITY Share capital Reserves TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 31 March 2017 RM’000 31 December 2016 RM’000 2,432,717 1,177,160 3,609,877 219,217 3,365,945 3,585,162 53,752,320 49,663,526 10,991,077 11,222,116 COMMITMENTS AND CONTINGENCIES A28 CAPITAL ADEQUACY Before deducting interim dividend * Common Equity Tier I Capital Ratio Tier I Capital Ratio Total Capital Ratio A27 A27 A27 10.623% 10.623% 13.189% 11.138% 11.138% 13.746% After deducting interim dividend * Common Equity Tier I Capital Ratio Tier I Capital Ratio Total Capital Ratio A27 A27 A27 10.623% 10.623% 13.189% 10.923% 10.923% 13.531% Net assets per share attributable to ordinary equity holder of the Bank (RM) 16.47 16.35 * Refers to interim dividend declared subsequent to the financial period / year end. The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 2
3. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF PROFIT OR LOSS FOR THE 1ST QUARTER ENDED 31 MARCH 2017 Note Income derived from investment of depositors' funds and others Income derived from investment of shareholder's funds Allowance for impairment on financing and advances Writeback of impairment / (Impairment) on other assets Profit Equalisation Reserves Total distributable income Income attributable to depositors and others Total net income Personnel expenses Other overheads and expenditures Three Months Ended 31 March 31 March 2017 2016 RM’000 RM’000 A16 554,556 503,976 554,556 503,976 A17 42,784 41,879 42,784 41,879 A18 (17,633) (13,033) (17,633) (13,033) A19 47 579,754 (346,072) 233,682 (4,554) (96,554) (34) (38) 532,750 (316,778) 215,972 (4,214) (84,119) 47 579,754 (346,072) 233,682 (4,554) (96,554) (34) (38) 532,750 (316,778) 215,972 (4,214) (84,119) 132,574 (65) (31,118) 101,391 127,639 (53) (30,492) 97,094 132,574 (65) (31,118) 101,391 127,639 (53) (30,492) 97,094 A20 A21 Profit before zakat and taxation Zakat Taxation Profit for the period Earnings per share - basic / diluted (sen) 1st Quarter Ended 31 March 31 March 2017 2016 RM’000 RM’000 A22 46.3 45.0 46.3 45.0 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 3
4. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE 1ST QUARTER ENDED 31 MARCH 2017 1st Quarter Ended 31 March 31 March 2017 2016 RM’000 RM’000 Profit for the period 101,391 97,094 Three Months Ended 31 March 31 March 2017 2016 RM’000 RM’000 101,391 97,094 Other comprehensive loss : Items that may be reclassified to profit or loss: Revaluation reserves: - Net loss on revaluation of financial investments available-for-sale Hedging reserves: - Net change in cash flow hedges (6,212) (3,826) (6,212) (3,826) (8,145) (14,357) (92,579) (96,405) (8,145) (14,357) (92,579) (96,405) 1,491 1,955 3,446 918 22,219 23,137 1,491 1,955 3,446 918 22,219 23,137 (10,911) (73,268) (10,911) (73,268) 90,480 23,826 90,480 23,826 Income tax relating to components of other comprehensive loss : - Revaluation reserves - Hedging reserves Other comprehensive loss for the period, net of tax Total comprehensive income for the period The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 4
5. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE 1ST QUARTER ENDED 31 MARCH 2017 Share Capital RM’000 At 1 January 2017 Profit for the period Other comprehensive loss for the period Total comprehensive (loss) / income for the period Transactions with owner / other equity movements: Transfer pursuant to Companies Act 2016 Transfer from Profit Equalisation Reserves of the Bank Transfer to regulatory reserves Dividends paid At 31 March 2017 <------------------------------------------------ Non-distributable ----------------------------------------------------> Distributable Reserve Reserves Profit Defined Share Statutory Revaluation Equalisation Hedging Benefit Regulatory Retained Premium Reserves Reserves Reserves Reserves Reserves Reserves Profit RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM'000 RM’000 Total Equity RM’000 219,217 2,213,500 239,546 (13,832) 173 (1,999) 4,706 148,815 775,036 - - - (4,721) (4,721) - (6,190) (6,190) - - 101,391 101,391 101,391 (10,911) 90,480 2,213,500 (2,213,500) - - - - - - - - 2,213,500 (2,213,500) - - (1) (1) - - 15,501 15,501 1 (15,501) (65,765) (81,265) (65,765) (65,765) 2,432,717 - 239,546 (18,553) 4,706 164,316 795,162 172 (8,189) The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 5 3,585,162 3,609,877
6. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED STATEMENT OF CHANGES IN EQUITY FOR THE 1ST QUARTER ENDED 31 MARCH 2017 Share Capital RM’000 At 1 January 2016 Profit for the period Other comprehensive loss for the period Total comprehensive (loss) / income for the period Transactions with owner / other equity movements: Transfer to Profit Equalisation Reserves of the Bank Transfer to regulatory reserves Increase in share capital At 31 March 2016 <------------------------------------------------ Non-distributable --------------------------------------------------> Reserves Profit Defined Share Statutory Revaluation Equalisation Hedging Benefit Regulatory Premium Reserves Reserves Reserves Reserves Reserves Reserves RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM'000 207,217 1,925,500 227,546 - - - 12,000 12,000 288,000 288,000 - 219,217 2,213,500 227,546 21,879 (2,908) (2,908) 87 45,709 Retained Profit RM’000 Total Equity RM’000 2,963,706 4,293 68,739 462,736 97,094 97,094 97,094 (73,268) 23,826 300,000 300,000 - (70,360) (70,360) - - - 63 63 - - 25,539 25,539 (63) (25,539) (25,602) 18,971 150 (24,651) 4,293 94,278 534,228 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 6 Distributable Reserve 3,287,532
7. PUBLIC ISLAMIC BANK BERHAD (14328 - V) (Incorporated in Malaysia) CONDENSED INTERIM FINANCIAL STATEMENTS UNAUDITED CONDENSED STATEMENT OF CASH FLOWS FOR THE 1ST QUARTER ENDED 31 MARCH 2017 31 March 2017 RM'000 Profit before zakat and taxation Adjustments for non-cash items Operating profit before working capital changes Changes in working capital: Net changes in operating assets Net changes in operating liabilities Cash generated from operations Zakat and tax paid Net cash generated from operating activities Net cash generated from / (used in) investing activities Net cash (used in) / generated from financing activities Net change in cash and cash equivalents Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period 132,574 15,985 148,559 (3,011,959) 4,057,051 1,193,651 (26,766) 1,166,885 333,263 (65,765) 1,434,383 651,382 2,085,765 31 March 2016 RM'000 127,639 903 128,542 (278,243) 556,849 407,148 (18,213) 388,935 (127,749) 300,000 561,186 3,225,149 3,786,335 The Unaudited Condensed Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the year ended 31 December 2016. 7
8. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) Part A - Explanatory Notes Pursuant to Malaysian Financial Reporting Standard ("MFRS") 134 and Policy Document on Financial Reporting for Islamic Banking Institutions Issued by Bank Negara Malaysia A1. Basis of Preparation The unaudited condensed interim financial statements for the 1st quarter ended 31 March 2017 have been prepared under the historical cost convention except for the following assets and liabilities which are stated at fair values: financial assets held-for-trading, financial investments available-for-sale and derivative financial instruments. The unaudited condensed interim financial statements have been prepared in accordance with MFRS 134: Interim Financial Reporting issued by the Malaysian Accounting Standards Board (“MASB”). The unaudited condensed interim financial statements should be read in conjunction with the audited annual financial statements of the Bank for the financial year ended 31 December 2016. The explanatory notes attached to the unaudited condensed interim financial statements provide an explanation of events and transactions that are significant to an understanding of the changes in the financial position and performance of the Bank since the year ended 31 December 2016. The significant accounting policies and methods of computation applied in the unaudited condensed interim financial statements are consistent with those adopted in the most recent annual financial statements for the year ended 31 December 2016, except for the adoption or early adoption of the following Amendments to MFRSs during the current financial period: - Amendments to MFRSs contained in the document entitled "Annual Improvements to MFRS Standards 2014 - 2016 Cycle" Effective for annual periods commencing on or after 1 January 2017 Amendments to MFRS 12 Disclosure of Interests in Other Entities Effective for annual periods commencing on or after 1 January 2018 (Early adoption) Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards Amendments to MFRS 128 Investments in Associates and Joint Ventures Amendments to MFRSs contained in the document entitled "Annual Improvements to MFRS Standards 2014 2016 Cycle". The Annual Improvements consist of the following amendments: (i) Amendments to MFRS 12 Disclosure of Interests in Other Entities These amendments clarify that an entity is not required to disclose summarised financial information for subsidiary, joint venture or associate when it is classified as held for sale in accordance with MFRS 5. (ii) Amendments to MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards The amendments remove certain provisions from the Standard that have served their intended purposes and are no longer required. (iii) Amendments to MFRS 128 Investments in Associates and Joint Ventures The amendments clarify that when an investment in an associate or a joint venture is held by an entity which is a venture capital organisation, or a mutual fund, unit trust or similar entities, the entity may elect to measure that investment at fair value on an investment by investment basis in accordance with the Standard. The adoption of Annual Improvements to MFRS Standards 2014 - 2016 Cycle did not have any financial impact on the financial statements of the Bank. 8
9. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A1. Basis of Preparation (continued) Companies Act 2016 The Companies Act 2016 (“New Act”) was enacted to replace the Companies Act 1965 with the objectives to create a legal and regulatory structure that will facilitate business, and promote accountability as well as protection of corporate directors and shareholders, taking into consideration the interest of other stakeholders. The New Act was passed on 4 April 2016 by the Dewan Rakyat (House of Representative) and gazetted on 15 September 2016. On 26 January 2017, the Minister of Domestic Trade, Co-operatives and Consumerism announced that the date on which the New Act comes into operation, except section 241 and Division 8 of Part III of the New Act, will be 31 January 2017. Amongst the key changes introduced in the New Act which will affect the financial statements of the Bank upon the commencement of the New Act on 31 January 2017 includes: (a) removal of the authorised share capital; (b) shares of the Bank will cease to have par or nominal value; and (c) the Bank’s share premium account will become part of the Bank’s share capital. During the period, the Bank had transferred a total of RM2,213,500,000 from its share premium account to the share capital pursuant to the New Act. The adoption of the New Act did not have any financial impact on the Bank for the current financial year as any accounting implications will only be applied prospectively, if applicable, and the effect of adoption mainly will be on disclosures to the financial statements for the financial year ending 31 December 2017. Capital Adequacy Framework for Islamic Banks (Risk-Weighted Assets) On 2 March 2017, Bank Negara Malaysia reissued the Capital Adequacy Framework for Islamic Banks (RiskWeighted Assets) ("the Framework") with the date of application to be effective immediately. The Framework sets out the requirements on the computation of the risk-weighted assets developed based on the Basel Committee on Banking Supervision (''BCBS'') and the Islamic Financial Services Board (''IFSB'') papers entitled “International Convergence of Capital Measurement and Capital Standards: A Revised Framework” and “Capital Adequacy Standard (''CAS'')” issued in June 2006 and December 2005 respectively. As the updates to the Framework focused mainly on the Internal Rating Based Approach whilst the Bank adopts the Standardised Approach for credit and market risk, therefore, the application of this Framework did not have any impact on the capital adequacy ratios of the Bank. The following MFRSs, Amendments to MFRSs and IC Interpretation have been issued by MASB but are not yet effective to the Bank: Effective for annual periods commencing on or after 1 January 2018 - MFRS 15 Revenue from Contracts with Customers - MFRS 9 Financial Instruments (2014) - Transfers of Investment Property (Amendments to MFRS 140) - IC Interpretation 22 Foreign Currency Transactions and Advance Consideration - Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts (Amendments to MFRS 4) Effective for annual periods commencing on or after 1 January 2019 - MFRS 16 Leases 9
10. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A1. Basis of Preparation (continued) A brief description of the new MFRSs, Amendments to MFRSs and IC Interpretation above that have been issued but not yet effective to the Bank is set out below: (a) MFRS 15 Revenue from Contracts with Customers - MFRS 15 establishes principles that an entity shall apply to report useful information about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with customers. The core principle of MFRS 15 is that an entity recognises revenue in a manner which reflects the consideration an entity expects to be entitled in exchange for goods or services. The adoption of MFRS 15 is not expected to have any material impact on the financial statements of the Bank. (b) MFRS 9 Financial Instruments (2014) - This final version of MFRS 9 replaces all previous versions of MFRS 9. Retrospective application is required, but comparative information is not compulsory. The standard introduces new requirements for classification and measurement of financial instruments, impairment of financial assets and hedge accounting. The approach for classification of financial assets is driven by cash flow characteristics and the business model in which an asset is held with two measurement categories – amortised cost and fair value. For impairment, MFRS 9 introduces an expected-loss impairment model which will require more timely recognition of expected credit losses to reflect changes of credit risk of financial instruments. For hedge accounting, the general hedge accounting requirements have been simplified for hedge effectiveness testing and permit hedge accounting to be applied to a greater variety of hedging instruments and risks. MFRS 9 introduces significant changes in the way the Bank accounts for financial instruments. The preparation for MFRS 9 by the Bank had started in 2015 with the setting up of a MFRS 9 Project Team headed by the Chief Financial Officer of the Bank, and with assistance from consultants on the implementation of MFRS 9. Currently, the Bank had completed the gap assessment and started on the development of MFRS 9 compliant impairment models for all impacted credit exposures. (c) Transfers of Investment Property (Amendments to MFRS 140) - The amendments clarify the existing provisions in the Standard on transfer to, or from the investment property category. The adoption of these amendments is not expected to have any material financial impact on the financial statements of the Bank. (d) IC Interpretation 22 Foreign Currency Transactions and Advance Consideration - The IC Interpretation addresses the issue on which exchange rate is to be used in reporting foreign currency transactions that involve advance consideration paid or received. The adoption of the IC Interpretation is not expected to have any material financial impact on the financial statements of the Bank. 10
11. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A1. Basis of Preparation (continued) A brief description of the new MFRSs, Amendments to MFRSs and IC Interpretation above that have been issued but not yet effective to the Bank is set out below (continued): (e) Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts (Amendments to MFRS 4) - The amendments address the issues arising from the transitional challenges of applying the temporary exemption from MFRS 9 for an insurer in view that the upcoming new insurance contracts standard MFRS 17 is expected to be issued soon. The expiration date of the temporary exemption from MFRS 9 coincide with the tentative effective date of MFRS 17, as decided by IASB in November 2016. In addition, to reduce the impact of temporary volatility in reported results of entity dealing with insurance contracts, the amendments introduce two additional voluntary options, namely an overlay approach and a deferral approach. The adoption of these amendments is not expected to have any material financial impact on the financial statements of the Bank. (f) MFRS 16 Leases - MFRS 16 introduces a single accounting model for a lessee and eliminates the distinction between finance lease and operating lease. Lessee is now required to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. Upon adoption of MFRS 16, the Bank is required to account for major part of their operating leases in the balance sheet by recognising the 'right-of-use' assets and the lease liability, thus increasing the assets and liabilities of the Bank. The financial effects arising from the adoption of this standard are still being assessed by the Bank. A2. Auditors' Report on Preceding Annual Financial Statements The auditors' report on the audited annual financial statements for the financial year ended 31 December 2016 was not qualified. A3. Comments about Seasonal or Cyclical Factors The operations of the Bank were not materially affected by any seasonal or cyclical factors in the 1st quarter ended 31 March 2017. 11
12. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A4. Unusual Items Due to Their Nature, Size or Incidence There were no unusual items affecting the assets, liabilities, equity, net income or cash flows of the Bank in the 1st quarter ended 31 March 2017. A5. Changes in Estimates There were no material changes in estimates of amounts reported in prior financial years that have a material effect in the 1st quarter ended 31 March 2017. A6. Debt and Equity Securities There were no issuance of shares, share buy-back and repayment of debt and equity securities by the Bank in the 1st quarter ended 31 March 2017. A7. Dividends Paid, Distributed and Declared During the 1st quarter ended 31 March 2017, a first interim dividend of 30%, in respect of the financial year ended 31 December 2016, amounting to RM65,765,100 was paid on 6 February 2017. No dividend has been declared during the 1st quarter ended 31 March 2017. 12
13. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A8. Financial Assets Held-for-Trading 31 March 2017 RM’000 At fair value Money market instruments: Negotiable Islamic Debt Certificates A9. 2,317,866 31 December 2016 RM’000 495,364 Financial Investments Available-for-Sale 31 March 2017 RM’000 At fair value Government securities and treasury bills: Malaysian Government Investment Issues 5,795,264 31 December 2016 RM’000 6,140,438 A10. Financial Investments Held-to-Maturity 31 March 2017 RM’000 At amortised cost Government securities and treasury bills: Malaysian Government Investment Issues Non-money market instruments: Debt securities - Unquoted private debt securities 13 31 December 2016 RM’000 2,423,580 2,414,016 569,532 571,250 2,993,112 2,985,266
14. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances a. By type and contract 31 March 2017 At amortised cost Cash line Term financing - House financing - Syndicated financing - Hire purchase receivables - Other term financing Credit card receivables Bills receivables Trust receipts Claims on customers under acceptance credits Revolving credits Staff financing Gross financing and advances Allowance for impaired financing and advances: - collective assessment allowance - individual assessment allowance Net financing and advances Bai' Bithaman Ajil RM'000 Ijarah Thumma Al-Bai' RM'000 Musharakah Mutanaqisah Murabahah RM'000 RM'000 Bai' Inah RM'000 Total Financing and Advances RM'000 Ujrah RM'000 1,306,230 - - - - - 1,306,230 4,013,202 1,363,465 2,872,368 204,174 9,759,439 11,520,179 5,408 11,525,587 1,852,803 1,852,803 8,250,838 7,142,198 41,772 15,434,808 2,568 3,393 115,663 121,624 10,997 10,997 12,264,040 1,363,465 11,520,179 11,867,369 10,997 2,568 3,393 115,663 204,174 47,180 38,705,258 (300,147) (69) 38,405,042 14
15. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances (continued) a. By type and contract (continued) 31 December 2016 At amortised cost Cash line Term financing - House financing - Syndicated financing - Hire purchase receivables - Other term financing Credit card receivables Bill receivables Trust receipts Claims on customers under acceptance credits Revolving credits Staff financing Gross financing and advances Allowance for impaired financing and advances: - collective assessment allowance - individual assessment allowance Net financing and advances Bai' Bithaman Ajil RM'000 Ijarah Thumma Al-Bai' RM'000 Bai' Inah RM'000 Musharakah Mutanaqisah RM'000 Murabahah RM'000 Total Financing and Advances RM'000 Ujrah RM'000 1,200,076 - - - - - 1,200,076 4,074,478 1,344,515 2,953,281 197,789 9,770,139 11,732,886 4,746 11,737,632 1,895,438 1,895,438 7,406,025 6,572,426 35,215 14,013,666 3,270 2,478 104,197 109,945 10,530 10,530 11,480,503 1,344,515 11,732,886 11,421,145 10,530 3,270 2,478 104,197 197,789 39,961 37,537,350 (301,634) (34) 37,235,682 All the financing and advances are located in Malaysia. 15
16. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances (continued) b. By class 31 March 2017 RM’000 Retail financing * - House financing - Hire purchase - Credit cards - Other financing ^ 12,264,040 11,520,179 10,997 12,108,325 35,903,541 2,801,717 38,705,258 Corporate financing Gross financing and advances 31 December 2016 RM’000 11,480,503 11,732,886 10,530 11,492,287 34,716,206 2,821,144 37,537,350 * Included in retail financing are financing granted to individual customers and mid-market commercial enterprises. ^ Included in other financing are term financing, trade financing, cash line and revolving credits. c. By type of customer 31 March 2017 RM’000 Domestic non-bank financial institutions - Others Domestic business enterprises - Small and medium enterprises - Others Government and statutory bodies Individuals Other domestic entities Foreign entities Gross financing and advances 31 December 2016 RM’000 228,183 228,592 7,389,440 1,116,233 1,327,702 28,550,029 5,752 87,919 38,705,258 7,023,420 1,109,988 1,313,959 27,772,881 4,874 83,636 37,537,350 d. By rate of return sensitivity 31 March 2017 RM’000 Fixed rate - House financing - Hire purchase receivables - Other fixed rate financing Variable rate - Base rate / base financing rate plus - Cost plus Gross financing and advances 16 31 December 2016 RM’000 418,897 11,519,997 3,016,228 429,769 11,732,681 3,042,732 22,041,014 1,709,122 38,705,258 20,602,923 1,729,245 37,537,350
17. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances (continued) e. By residual contractual maturity 31 March 2017 RM’000 Maturity within one year More than one year to three years More than three years to five years More than five years Gross financing and advances 1,887,354 3,280,802 3,248,119 30,288,983 38,705,258 31 December 2016 RM’000 1,824,406 3,255,053 3,236,267 29,221,624 37,537,350 f. By economic purpose 31 March 2017 RM'000 Purchase of transport vehicles Purchase of landed properties (of which: - residential - non-residential) Purchase of fixed assets (excluding landed properties) Personal use Credit card Purchase of consumer durables Construction Working capital Other purpose Gross financing and advances 11,525,575 20,679,062 12,564,444 8,114,618 5,838 2,557,049 10,997 1,727 254,931 3,598,911 71,168 38,705,258 31 December 2016 RM'000 11,737,615 19,488,709 11,745,999 7,742,710 4,660 2,534,634 10,530 1,756 237,790 3,454,971 66,685 37,537,350 g. By sectors 31 March 2017 RM'000 Agriculture, hunting, forestry and fishing Mining and quarrying Manufacturing Electricity, gas and water Construction Wholesale & retail trade and restaurants & hotels Transport, storage and communication Finance, insurance and business services Real estate Community, social and personal services Households Others Gross financing and advances 17 863,932 35,952 682,124 2,413 1,086,834 1,847,288 337,307 653,710 2,993,963 1,561,764 28,637,948 2,023 38,705,258 31 December 2016 RM'000 837,589 33,442 637,469 1,272 1,015,486 1,730,052 322,348 641,868 2,920,892 1,538,381 27,856,517 2,034 37,537,350
18. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances (continued) h. Movements in impaired financing and advances ("impaired financing") are as follows: 31 March 2017 RM'000 At 1 January Impaired during the period / year Reclassified as non-impaired Recoveries Amount written off Financing converted to foreclosed properties Closing balance Gross impaired financing as a percentage of gross financing and advances 31 December 2016 RM'000 225,667 145,609 (124,595) (10,928) (25,183) (1) 211,804 593,015 (440,075) (44,904) (92,607) (1,566) 210,569 225,667 0.54% 0.60% i. Impaired financing and advances by economic purpose 31 March 2017 RM’000 Purchase of transport vehicles Purchase of landed properties (of which: - residential - non-residential) Personal use Credit card Working capital Other purpose 88,532 90,866 77,134 13,732 29,278 116 1,752 25 210,569 18 31 December 2016 RM’000 94,829 99,044 87,126 11,918 29,707 66 2,007 14 225,667
19. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A11. Financing and Advances (continued) j. Impaired financing and advances by sectors 31 March 2017 RM’000 Agriculture, hunting, forestry and fishing Mining and quarrying Manufacturing Construction Wholesale & retail trade and restaurants & hotels Transport, storage and communication Finance, insurance and business services Real estate Community, social and personal services Households Others 488 651 1,077 4,168 949 108 772 645 443 201,100 168 210,569 31 December 2016 RM’000 516 43 534 6,201 1,761 938 763 622 345 213,761 183 225,667 All the impaired financing and advances are located in Malaysia. k. Movements in the allowance for impaired financing and advances accounts are as follows: 31 March 2017 RM'000 Collective Assessment Allowance At 1 January Allowance made during the period / year Amount written off Closing balance 301,634 23,696 (25,183) 300,147 31 March 2017 RM'000 Individual Assessment Allowance At 1 January Allowance made during the period / year Closing balance 34 35 69 19 31 December 2016 RM'000 315,895 78,346 (92,607) 301,634 31 December 2016 RM'000 34 34
20. PUBLIC ISLAMIC BANK BERHAD (14328-V) (Incorporated in Malaysia) A12. Other Assets 31 March 2017 RM’000 Deferred handling fees Income receivable Other receivables, deposits and prepayments Employee benefits Foreclosed properties 31 December 2016 RM’000 65,185 607 7,209 2,903 1,794 77,698 67,253 58 13,810 2,999 1,793 85,913 A13. Deposits from Customers a. By type of deposit and contract 31 March 2017 RM'000 31 December 2016 RM'000 At amortised cost Savings deposit - Wadiah 6,118,638 5,855,625 Demand deposit - Wadiah 3,772,990 3,839,873 31,028,716 27,684,903 - 90,115 110,184 200,299 6,060,942 4,892,374 46,981,286 42,473,074 Term deposit - Commodity Murabahah - General investment account - Mudharabah - Wakalah - Special term deposit account - Wadiah 20