Dubai Islamic Bank P.J.S.C.
Review report and condensed consolidated interim financial information
for the nine-month period ended 30 September 2021
Dubai Islamic Bank P.J.S.C.
Review report and condensed consolidated interim financial information (Unaudited) for the nine-monthperiod ended 30 September 2021
Pages | |
Report on review of condensed consolidated interim financial information | 1 |
Condensed consolidated interim statement of financial position | 2 |
Condensed consolidated interim statement of profit or loss | 3 |
Condensed consolidated interim statement of comprehensive income | 4 |
Condensed consolidated interim statement of changes in equity | 5 |
Condensed consolidated interim statement of cash flows | 6 - 7 |
Notes to the condensed consolidated interim financial information | 8 - 42 |
Deloitte & Touche (M.E.)
Building 3, Level 6
Emaar Square
Downtown Dubai
P.O. Box 4254
Dubai
United Arab Emirates
Tel: +971 (0) 4 376 8888
Fax:+971 (0) 4 376 8899
www.deloitte.com
REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION
The Board of Directors
Dubai Islamic Bank PJSC
Dubai
United Arab Emirates
Introduction
We have reviewed the accompanying condensed consolidated statement of financial position of Dubai Islamic Bank PJSC (the "Bank") and its subsidiaries (collectively referred as the "Group"), as at 30 September 2021, and the related condensed consolidated interim statements of profit or loss, comprehensive income, changes in equity and cash flows for the nine month period then ended. Management is responsible for the preparation and fair presentation of this interim financial information in accordance with International Accounting Standard 34: Interim Financial Reporting ("IAS 34"). Our responsibility is to express a conclusion on this interim financial information based on our review.
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial information is not prepared, in all material respects in accordance with IAS 34.
Deloitte & Touche (M.E.)
Musa Ramahi
Registration No. 872
Dubai
United Arab Emirates
26 October 2021
Akbar Ahmad (1141), Cynthia Corby (995), Georges Najem (809), Mohammad Jallad (1164), Mohammad Khamees Al Tah (717), Musa Ramahi (872), Mutasem M. Dajani (726), Obada Alkowatly (1056), Rama Padmanabha Acharya (701) and Samir Madbak (386) are registered practicing auditors with the UAE Ministry of Economy.
Dubai Islamic Bank P.J.S.C.
Condensed consolidated interim statement of profit or loss (Unaudited)
for the nine-month period ended 30 September 2021
Note
NET INCOME
Income from Islamic financing and investing transactions
Commissions, fees and foreign exchange income Income from other investments measured at fair
value, net
Income from properties held for development and sale, net
Income from investment properties
Share of profit from associates and joint ventures Other income
Total income
Less: depositors' and sukuk holders' share of
profit | |
Net income | |
OPERATING EXPENSES | |
Personnel expenses | |
General and administrative expenses | |
Depreciation of investment properties | |
Depreciation of property and equipment | |
Total operating expenses | |
Net operating income before impairment | |
charges | |
Impairment charges, net | 19 |
Gain on bargain purchase | 30 |
Profit for the period before income tax expense | |
Income tax expense | |
Net profit for the period | |
Attributable to: | |
Owners of the Bank | |
Non-controlling interests | |
Net profit for the period | |
Basic and diluted earnings per share | |
(AED per share) | 20 |
Three-month period | Nine-month period | |||
ended 30 September | ended 30 September | |||
2021 | 2020 | 2021 | 2020 | |
AED'000 | AED'000 | AED'000 | AED'000 | |
2,338,589 | 2,436,468 | 6,786,862 | 7,973,066 | |
414,813 | 444,583 | 1,250,355 | 1,317,870 | |
6,521 | 1,199 | 19,695 | 45,364 | |
20,762 | 11,325 | 72,806 | 41,627 | |
68,502 | 16,114 | 123,513 | 50,110 | |
20,613 | 14,493 | 116,757 | 13,435 | |
234,117 | 143,478 | 575,686 | 450,276 | |
----- | ----- | ----- | ----- | |
3,103,917 | 3,067,660 | 8,945,674 | 9,891,748 | |
(583,004) | (855,724) | (1,796,676) | (2,956,501) | |
----- | ----- | ----- | ----- | |
2,520,913 | 2,211,936 | 7,148,998 | 6,935,247 | |
----- | ----- | ----- | ----- | |
(385,630) | (384,030) | (1,101,220) | (1,311,287) | |
(197,377) | (231,147) | (633,369) | (678,356) | |
(17,310) | (13,705) | (47,924) | (40,450) | |
(27,352) | (34,651) | (91,174) | (103,960) | |
----- | ----- | ----- | ----- | |
(627,669) | (663,533) | (1,873,687) | (2,134,053) | |
----- | ----- | ----- | ----- | |
1,893,244 | 1,548,403 | 5,275,311 | 4,801,194 | |
(675,541) | (530,440) | (2,173,809) | (2,650,067) | |
- | - | - | 1,014,654 | |
----- | ----- | ----- | ----- | |
1,217,703 | 1,017,963 | 3,101,502 | 3,165,781 | |
(12,043) | (11,344) | (32,265) | (41,293) | |
----- | ----- | ----- | ----- | |
1,205,660 | 1,006,619 | 3,069,237 | 3,124,488 | |
========= | ========= | ========= | ========= | |
1,205,213 | 1,004,884 | 3,058,928 | 3,125,474 | |
447 | 1,735 | 10,309 | (986) | |
----- | ----- | ----- | ----- | |
1,205,660 | 1,006,619 | 3,069,237 | 3,124,488 | |
========= | ========= | ========= | ========= | |
0.15 | 0.11 | 0.36 | 0.37 | |
========= | ========= | ========= | ========= |
The notes on pages 8 to 42 form an integral part of these condensed consolidated interim financial information.
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Dubai Islamic Bank PJSC published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 05:07:12 UTC.