United Arab Bank: Consolidated Interim Financial Information - 30 September 2017

Transcription

1. United Arab Bank P .J.S.C. CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2017
2. United Arab Bank P .J.S.C. CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 Pages Review report on condensed consolidated interim financial information 2 Consolidated interim statement of financial position 3 Consolidated interim statement of income 4 Consolidated interim statement of comprehensive income 5 Consolidated interim statement of cash flows 6 Consolidated interim statement of changes in equity 7 Notes to the condensed consolidated interim financial information 8 - 21
5. United Arab Bank P .J.S.C. CONSOLIDATED INTERIM STATEMENT OF INCOME (unaudited) For the nine month period ended 30 September 2017 Note Interest income Interest expense Net interest income Net fees and commission income Foreign exchange income Other operating income Operating income Net impairment losses Nine month period ended 30 September ────────────── 2016 2017 AED’000 AED’000 229,610 220,981 (81,474) (90,772) ─────── ─────── 148,136 130,209 727,342 638,425 (262,850) (232,079) ─────── ─────── 495,263 375,575 13,921 21,483 16,348 10,306 32,467 7,961 ─────── ─────── 210,872 169,959 60,840 83,143 57,309 29,549 73,238 27,312 ─────── ─────── 686,650 515,579 7 (93,705) ─────── 76,254 ─────── (50,969) (8,981) (21,698) ─────── (81,648) ─────── (5,394) ═══════ (104,346) ─────── 106,526 ─────── (56,944) (8,279) (24,319) ─────── (89,542) ─────── 16,984 ═══════ (209,982) (335,939) ─────── ─────── 350,711 305,597 ─────── ─────── (163,102) (168,724) (25,693) (26,674) (68,550) (66,067) ─────── ─────── (255,843) (262,967) ─────── ─────── 87,744 49,754 ═══════ ═══════ 4 0.01 (0.00) ─────── ─────── 0.06 0.04 ─────── ─────── Net operating income Employee benefit expenses Depreciation Other operating expenses Total operating expenses Net (loss) / profit for the period (Losses) / earnings per share (basic and diluted in AED) Three month period ended 30 September ─────────────── 2016 2017 AED’000 AED’000 The notes on pages 8 to 21 form an integral part of the condensed consolidated interim financial information. 4
6. United Arab Bank P .J.S.C. CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME (unaudited) For the nine month period ended 30 September 2017 Three month period ended 30 September ─────────────── 2016 2017 AED’000 AED’000 Net (loss) / profit for the period Nine month period ended 30 September ────────────── 2016 2017 AED’000 AED’000 16,984 49,754 87,744 4,389 732 51,873 48,929 5,990 ─────── 10,379 ─────── 4,985 ═══════ 9,414 ────── 10,146 ────── 27,130 ══════ (1,187) ────── 50,686 ────── 100,440 ══════ (36,471) ────── 12,458 ────── 100,202 ══════ (5,394) Other comprehensive income: Items that are or may be reclassified subsequently to the consolidated statement of income Net changes in fair value of available for sale investments Available for sale investments – reclassified to consolidated statement of income Total comprehensive income for the period The notes on pages 8 to 21 form an integral part of the condensed consolidated interim financial information. 5
7. United Arab Bank P .J.S.C. CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS (unaudited) For the nine month period ended 30 September 2017 Nine month period ended 30 September ──────────────────── 2016 2017 AED’000 AED’000 Operating activities Net profit for the period Adjustments for: Depreciation Loss on write off of property and equipment Gain from insurance and sale of property and equipment Net impairment losses Amortisation of premium paid on investments Net fair value loss / (gains) on disposal of investments Unrealised gain on investments Operating profit before changes in operating assets and liabilities Changes in operating assets and liabilities: Loans and advances Balances with the UAE Central Bank maturing after three months Due from other banks maturing after three months Cash margin held by counterparty banks against borrowings and derivative transactions Other assets Due to banks maturing after three months Customers’ deposits Other liabilities Net cash used in operating activities Investing activities Purchase of property, equipment and capital work-in-progress Proceeds on sale of property and equipment Proceeds from insurance claims Purchase of investments Proceeds from redemption / sale of investments Net cash from investing activities Financing activities Repayment of medium term borrowings Net cash used in financing activities Net change in cash and cash equivalents 87,744 49,754 26,674 5,000 (5,247) 209,982 17,902 4,976 (1,341) ──────── 307,700 ──────── 25,693 335,939 23,611 (40,045) ──────── 432,942 ──────── 1,451,702 (179,789) (103,240) 70,081 155,243 (7,440) (202,918) 93,057 (1,221,734) 202,354 ──────── (603,657) ──────── (6,678) (8,581) 270,371 (2,236,215) (89,664) ──────── (469,152) ──────── (41,710) 1,116 5,000 (1,491,512) 1,532,134 ──────── 5,028 ──────── (27,685) (4,539,606) 3,892,327 ──────── (674,964) ──────── (91,808) ──────── (91,808) ──────── (690,437) (422,314) ──────── (422,314) ──────── (1,566,430) Cash and cash equivalents at 1 January 2,610,146 1,631,477 ──────── ──────── 1,043,716 Cash and cash equivalents at 30 September 941,040 ════════ ════════ Cash and cash equivalents comprise the following statement of financial position amounts with original maturities of three months or less: Cash and balances with the UAE Central Bank Due from other banks Due to banks 923,656 511,574 (494,190) ──────── 941,040 ════════ 1,364,605 212,325 (533,214) ──────── 1,043,716 ════════ The notes on pages 8 to 21 form an integral part of the condensed consolidated interim financial information. 6
8. United Arab Bank P .J.S.C. CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY (unaudited) For the nine month period ended 30 September 2017 Cumulative changes in fair value AED’000 Share capital AED’000 Special reserve AED’000 Statutory reserve AED’000 General reserve AED’000 Revaluation reserve AED’000 Retained earnings AED’000 1,375,033 412,659 495,214 9,311 714 354,794 (77,770) 2,569,955 - - - - - 87,744 - 87,744 Other comprehensive income for the period ─────── ─────── ─────── ─────── ─────── ─────── 12,458 ─────── 12,458 ─────── Total comprehensive income for the period - - - - - 87,744 12,458 100,202 Depreciation transfer for land and buildings ─────── 1,375,033 ══════ ─────── 412,659 ══════ ─────── 495,214 ══════ ─────── 9,311 ══════ (31) ─────── 683 ══════ 31 ─────── 442,569 ══════ ─────── (65,312) ══════ ─────── 2,670,157 ══════ 1,375,033 412,659 495,214 9,311 673 (167,856) (38,317) 2,086,717 - - - - - 49,754 - 49,754 Other comprehensive income for the period ─────── ─────── ─────── ─────── ─────── ─────── 50,686 ─────── 50,686 ─────── Total comprehensive income for the period - - - - - 49,754 50,686 100,440 Depreciation transfer for land and buildings ─────── 1,375,033 ══════ ─────── 412,659 ══════ ─────── 495,214 ══════ ─────── 9,311 ══════ (32) ─────── 641 ══════ 32 ─────── (118,070) ══════ ─────── 12,369 ══════ ─────── 2,187,157 ══════ At 1 January 2016 Profit for the period At 30 September 2016 At 1 January 2017 Profit for the period At 30 September 2017 The notes on pages 8 to 21 form an integral part of the condensed consolidated interim financial information. Total AED’000 7
9. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 1 LEGAL STATUS AND ACTIVITIES United Arab Bank P.J.S.C. (the “Bank”) was incorporated in 1975 as a Private Joint Stock Company in the Emirate of Sharjah. The legal form of the Bank was converted to a public company with limited liability in 1982 by a decree of His Highness The Ruler of Sharjah and has been registered as a Public Joint Stock Company under the UAE Commercial Companies Law No. (8) of 1984 (as amended). The Bank’s registered office is located in the Emirate of Sharjah, United Arab Emirates. The address of the registered office is PO Box 25022, Sharjah, United Arab Emirates. The Bank carries out the business of commercial banking through its offices and branches in the United Arab Emirates. The Bank also carries out Islamic banking operations through Islamic banking windows at selected branches. The condensed consolidated interim financial information for the nine month period ended 30 September 2017 comprise the Bank and its subsidiary, Al Sadarah Investment Company (together referred to as the “Group”). 2 BASIS OF PREPARATION The condensed consolidated interim financial information of the Group are prepared in accordance with IAS 34, Interim Financial Reporting (“IAS 34”). The condensed consolidated interim financial information does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s audited consolidated financial statements as at 31 December 2016. UAE Federal Law No. 2 of 2015 (Companies Law) which is applicable to the Group has come into effect from 1 July 2015. The Group has assessed and evaluated the provisions of the Companies Law and has ensured its compliance. 3 SIGNIFICANT ACCOUNTING POLICIES The accounting policies used in the preparation of the condensed consolidated interim financial information are consistent with those used in the preparation of the Group’s audited financial statements for the year ended 31 December 2016 except for the adoption of the new International Financial Reporting Standards (IFRSs) which became effective as of 1 January 2017. 8
10. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 3 SIGNIFICANT ACCOUNTING POLICIES (continued) Standards, amendments and interpretations that are effective for the Group’s accounting period beginning on 1 January 2017 IFRS No. Title IAS 7 Statement of cash flows (disclosure initiative) Effective for annual period beginning on or after 1 January 2017 There is no material impact of the above amendment on the condensed consolidated interim financial information of the Group. There are no other IFRSs or IFRIC interpretations that were effective for the first time for the financial year beginning on 1 January 2017 that have had a material impact on the Group’s condensed consolidated interim financial information. Standards, amendments and interpretations issued but not yet effective for the Group’s accounting period beginning on 1 January 2017 and not early adopted IFRS No. Title IFRS 15 IFRS 9 IFRS 16 IFRIC 22 Revenue from contracts with customers Financial instruments Leases Foreign currency transactions and advance consideration Effective for annual period beginning on or after 1 January 2018 1 January 2018 1 January 2019 1 January 2018 The Group has plans in place for adhering to the above new standards and IFRIC interpretation issued but not yet effective for the Group’s financial year beginning on 1 January 2017 and is currently assessing the impact of the above new standards and IFRIC interpretation. There are no other applicable new standards and amendments to published standards or IFRIC interpretations that have been issued but are not effective for the first time for the Group’s financial year beginning on 1 January 2017 that would be expected to have a material impact on the condensed consolidated interim financial information of the Group. 9
11. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 3 SIGNIFICANT ACCOUNTING POLICIES (continued) Key accounting estimates and judgments The preparation of condensed consolidated interim financial information requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from the estimates. In preparing these condensed consolidated interim financial information, significant judgments made by the management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that were applied to the Group’s audited consolidated financial statements as at and for the year ended 31 December 2016. Financial risk management The Group’s financial risk management objectives and policies are consistent with those disclosed in the audited consolidated financial statements as at and for the year ended 31 December 2016. 4 EARNINGS PER SHARE Basic earnings per share is based on the profit attributable to ordinary shareholders and a weighted average number of ordinary shares outstanding calculated as follows: Unaudited Nine month period ended 30 September ────────────────────── 2016 2017 AED AED Net profit for the period Weighted average number of ordinary shares: Weighted average number of shares of AED 1 each outstanding for the period Basic earnings per share 49,754,000 ═════════ 87,744,000 ═════════ 1,375,033,766 1,375,033,766 ═════════ ═════════ AED 0.04 AED 0.06 The figures for diluted earnings per share are the same as basic earnings per share as the Bank has not issued any instruments which would have an impact on earnings per share if or when exercised. 10
12. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 5 CASH AND BALANCES WITH THE UAE CENTRAL BANK Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Cash on hand Balances with the UAE Central Bank: Clearing accounts Certificate of deposits Reserve requirements 80,514 107,616 393,142 700,000 713,324 ─────── 1,886,980 ═══════ 690,345 1,200,000 768,567 ─────── 2,766,528 ═══════ The reserve requirements kept with the UAE Central Bank in AED and USD, are not available for use in the Group’s day to day operations and cannot be withdrawn without its approval. However, the UAE Central Bank, in its Circular 4310/2008 dated 24 September 2008, has temporarily permitted banks to overdraw their current accounts (a) upto the amount of reserves at an interest rate of 3% per annum above the prevailing Central Bank repo rate; and (b) in excess of reserves at an interest of 5% per annum above the prevailing Central Bank repo rate. The level of reserve required changes every month in accordance with the UAE Central Bank directive. 6 DUE FROM OTHER BANKS Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Demand deposits Term deposits 175,852 492,230 ─────── 668,082 ═══════ 174,422 190,654 ─────── 365,076 ═══════ Due from other banks include AED 139,057,000 (31 December 2016: AED 208,279,000) placed with foreign banks outside the UAE. AED 31,508,000 (31 December 2016: AED 24,068,000) is held as margin for derivative transactions. 11
13. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 7 LOANS AND ADVANCES Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 The composition of the loans and advances portfolio is as follows: Overdrafts Term loans (medium and short term) Loans against trust receipts Bills discounted Other cash advances Bills drawn under letters of credit Gross amount of loans and advances Less: Provision for impairment on loans and advances Net loans and advances 1,369,166 1,462,214 10,395,438 11,155,680 1,340,716 1,474,477 304,153 293,409 78,707 70,059 86,132 74,348 ──────── ──────── 13,769,945 14,334,554 (988,992) (918,616) ──────── ──────── 12,851,329 13,345,562 ════════ ════════ Loans and advances are stated net of provision for impairment of loans and advances. The movements in provisions are as follows: Unaudited Audited 30 September 31 December 2017 2016 AED’000 AED’000 Balance at 1 January Provided during the period / year Released during the period / year Amounts written off (net) during the period / year Balance 988,992 ─────── 389,375 (164,380) ─────── 224,995 (295,371) ─────── 918,616 ═══════ 819,025 ─────── 1,205,295 (175,734) ─────── 1,029,561 (859,594) ─────── 988,992 ═══════ At 30 September 2017, the gross amount of loans, individually determined to be impaired, before deducting any individually assessed impairment allowance amounted to AED 897,201,000 (31 December 2016: AED 825,302,000). 12
14. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 7 LOANS AND ADVANCES (continued) Provision for credit losses recognised in the consolidated statement of income is as follows: Unaudited Audited 30 September 31 December 2017 2016 AED’000 AED’000 Net impairment of loans and advances Recovery of bad debts written off Provision for credit losses 8 1,029,561 (18,127) ─────── 1,011,434 ═══════ 224,995 (15,013) ─────── 209,982 ═══════ INVESTMENTS Unaudited 30 September 2017 ─────────────────────── Quoted Unquoted Total AED’000 AED’000 AED’000 Debt: Held for trading Local Overseas Available for sale Local Overseas Held to maturity Local Total debt securities Equity: Available for sale Overseas Total equities Total investments Audited 31 December 2016 ─────────────────────── Quoted Unquoted Total AED’000 AED’000 AED’000 183,615 - 183,615 18,572 201,095 - 18,572 201,095 2,583,573 511,066 - 2,583,573 511,066 2,553,409 531,520 - 2,553,409 531,520 18,503 ────── 3,296,757 ══════ 18,503 ────── ────── ────── - 3,296,757 3,304,596 ══════ ══════ ══════ ────── ────── - 3,304,596 ══════ ══════ 9,042 ────── 9,042 ══════ 3,305,799 ══════ 9,081 377 9,419 ────── ────── ────── 9,081 377 9,419 ══════ ══════ ══════ 377 3,306,176 3,313,677 ══════ ══════ ══════ 76 9,157 ────── ────── 76 9,157 ══════ ══════ 76 3,313,753 ══════ ══════ Included in the above are investment securities amounting to AED 693,195,000 (31 December 2016: AED 554,968,000) pledged under repurchase agreements with the lenders (Note 9). During the nine month period ended 30 September 2017, the Group has invested in unquoted shares of a company amounting to AED 301,000 (31 December 2016: Nil). 13
15. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 9 DUE TO BANKS Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Demand deposits Term deposits 39,106 1,411,131 ─────── 1,450,237 ═══════ 12,491 1,082,991 ─────── 1,095,482 ═══════ Due to banks include AED 20,881,000 (31 December 2016: Nil) held as margin for a derivative transaction. Term deposits include borrowings through repurchase agreements of AED 550,845,000 (31 December 2016: AED 440,676,000). 10 CUSTOMERS’ DEPOSITS Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Term and call deposits Current accounts Savings accounts 11 10,229,033 3,749,625 337,623 ─────── 14,316,281 ═══════ 11,054,363 4,108,846 374,806 ─────── 15,538,015 ═══════ MEDIUM TERM BORROWINGS Movement in medium term borrowings during the period/year is as follows: Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Balance as at 1 January New borrowings Repayments Balance as at period / year end 1,524,005 (91,808) ─────── 1,432,197 ═══════ 2,313,549 550,845 (1,340,389) ─────── 1,524,005 ═══════ 14
16. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 11 MEDIUM TERM BORROWINGS (continued) The below table details the maturity, currency and interest rate details of the medium term borrowings: Maturity 2017 2018 12 Currency Fixed / Floating Interest Rate USD USD Floating Floating LIBOR + Margin LIBOR + Margin Audited Unaudited 30 September 31 December 2016 2017 AED ‘000 AED’000 1,432,197 ─────── 1,432,197 ═══════ 91,808 1,432,197 ─────── 1,524,005 ═══════ DIVIDENDS At the annual general meeting of the shareholders held on 10th April 2017, no cash or scrip dividend (30 September 2016: Nil) relating to 2016 (30 September 2016: Nil relating to 2015) was proposed or subsequently approved. 13 SEGMENTAL INFORMATION For the purposes of reporting to the chief operating decision makers, the Group is organised into four segments: Corporate banking - principally handling loans and other credit facilities and deposit and current accounts for corporate and institutional customers; Retail banking - principally handling individual customers’ deposits, and providing consumer type loans, overdrafts, credit card facilities and funds transfer facilities as well as Islamic banking services; Treasury - principally providing money market, trading and treasury services as well as management of the Group’s funding operations including overseeing the operations of Al Sadarah Investment Company; and Others - Includes the non-core portfolio of SME and Personal Loans to Self-Employed businesses. Transactions between segments are conducted at estimated market rates on an arm’s length basis. Interest is charged / credited to business segments based on a pool rate which approximates the marginal cost of funds. 15
17. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 13 SEGMENTAL INFORMATION (continued) Segmental information for the nine month period ended 30 September 2017 is as follows: Corporate banking AED’000 Retail banking AED’000 Treasury AED’000 Others AED’000 Total AED’000 Net interest income 207,723 85,197 42,302 40,353 375,575 Other operating income 100,677 20,188 18,000 1,139 140,004 (128,518) (87,585) (33,736) (6,004) (255,843) 7,071 ─────── Profit / (loss) for the period 186,953 ═══════ (72,977) ─────── (55,177) ═══════ ─────── 26,566 ═══════ (144,076) ─────── (108,588) ═══════ (209,982) ─────── 49,754 ═══════ 22,941 ═══════ 14,181 ═══════ 3,754 ═══════ 834 ═══════ 41,710 ═══════ 10,982,190 ═══════ 11,373,225 ═══════ 3,346,803 ═══════ 3,848,973 ═══════ 5,968,002 ═══════ 3,012,450 ═══════ 302,452 ═══════ 177,642 ═══════ 20,599,447 ═══════ 18,412,290 ═══════ Operating expenses Net impairment losses Capital expenditure - Property and equipment At 30 September 2017 Segment assets Segment liabilities 16
18. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 13 SEGMENTAL INFORMATION (continued) Segmental information for the nine month period ended 30 September 2016 was as follows: Net interest income Other operating income Operating expenses Net impairment losses Profit / (loss) for the period Capital expenditure Property and equipment Corporate banking AED’000 Retail banking AED’000 Treasury AED’000 Others AED’000 Total AED’000 249,300 97,894 24,644 123,425 495,263 79,809 25,356 79,578 6,644 191,387 (122,381) (90,379) (30,927) (19,280) (262,967) 3,712 ─────── 210,440 ═══════ (47,737) ─────── (14,866) ═══════ ─────── 73,295 ═══════ 15,227 ═══════ 9,413 ═══════ 2,492 ═══════ 553 ═══════ 10,688,533 ═══════ 11,913,057 ═══════ 3,367,086 ═══════ 4,318,704 ═══════ 6,555,320 ═══════ 2,702,294 ═══════ 640,605 21,251,544 ═══════ ═══════ 230,772 19,164,827 ═══════ ═══════ (291,914) (335,939) ─────── ─────── (181,125) 87,744 ═══════ ═══════ 27,685 ═══════ At 31 December 2016 Segment assets Segment liabilities The Group operates in only one geographic area, the Middle East. Accordingly, no further geographical analysis of operating income, net profit and net assets is given. 17
19. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 14 COMMITMENTS AND CONTINGENT LIABILITIES Contingent liabilities represent credit related commitments under letters of credit and guarantees that are designed to meet the requirements of the Group’s customers towards third parties. Commitments represent credit facilities that are undrawn as on the date of the consolidated interim statement of financial position. The Group has the following credit related commitments: Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Contingent liabilities Letters of credit Guarantees Commitments Undrawn loan commitments 15 535,692 3,514,716 ─────── 4,050,408 ═══════ 420,563 3,218,243 ─────── 3,638,806 ═══════ 2,404,672 ═══════ 2,716,966 ═══════ RELATED PARTY TRANSACTIONS The Group carries out transactions in the ordinary course of business with related parties, defined as shareholders who have a significant equity interest in the Group, directors of the Group, key management personnel of the Group and companies over which such shareholders and directors exercise control or significant influence either directly or indirectly. The significant balances outstanding are as follows: Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Shareholders: Due from banks Due to banks Medium term borrowings Commitments and contingencies 1,452 ═══════ 4,788 ═══════ 165,254 ═══════ 13,141 ═══════ 2,022 ═══════ 1,752 ═══════ 165,254 ═══════ 11,466 ═══════ 18
20. United Arab Bank P .J.S.C. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION For the nine month period ended 30 September 2017 15 RELATED PARTY TRANSACTIONS (continued) Audited Unaudited 30 September 31 December 2016 2017 AED’000 AED’000 Directors: Loans and advances Customers’ deposits Commitments and contingencies 151 ═══════ 22,984 ═══════ 45 ═══════ 501 ═══════ 36,033 ═══════ 45 ═══════ 264,701 ═══════ 86,054 ═══════ 60 ═══════ 15 ═══════ 192,691 ═══════ 250,826 ═══════ 299,677 ═══════ 85,560 ═══════ 72 ═══════ 50 ═══════ 256,711 ═══════ 275,739 ═══════ 6,046 ═══════ 7,542 ═══════ 6,234 ═══════ 5,794 ═══════ 4,226 ═══════ 3,453 ═══════ 5,695 ═══════ 2,646 ═══════ Other related entities of shareholders and directors: Loans and advances Investments Due from banks Due to banks Customers’ deposits Commitments and contingencies Key management personnel of the Group: Loans and advances Customers’ deposits Shareholders, directors, their related entities and key management personnel: Accrued interest income Accrued interest expense 19