Financial Statements
Consolidated Income Statement
for the year ended December 31, 2011
| Notes | 2011 AED’000 | 2010 AED’000 | 2011 US$’000 | ||||
| Interest income | 26 | 7,365,090 | 7,158,894 | 2,005,197 | |||
| Interest expense | 27 | (2,817,299) | (3,507,961) | (767,029) | |||
| Net interest income | 4,547,791 | 3,650,933 | 1,238,168 | ||||
| Income from Islamic financing | 23 | 351,073 | 217,541 | 95,582 | |||
| Islamic profit distribution | 23 | (211,093) | (186,269) | (57,471) | |||
| Net income from Islamic financing | 139,980 | 31,272 | 38,111 | ||||
| Total net interest and Islamic financing income | 4,687,771 | 3,682,205 | 1,276,279 | ||||
| Net fees and commission income | 34 | 898,157 | 956,253 | 244,530 | |||
| Net trading income | 29 (a) | 335,949 | 308,284 | 91,464 | |||
| Decrease in fair value of investment properties | 12 | (11,900) | (116,412) | (3,240) | |||
| Loss on disposal of subsidiary | – | (992) | – | ||||
| Other operating income | 29 (b) | 159,435 | 170,268 | 43,407 | |||
| Operating income | 6,069,412 | 4,999,606 | 1,652,440 | ||||
| Staff costs | (1,094,956) | (829,541) | (298,109) | ||||
| Depreciation | 14 | (149,348) | (101,775) | (40,661) | |||
| Amortisation of intangible assets | 15 | (31,527) | (7,020) | (8,583) | |||
| Other operating expenses | (787,394) | (710,646) | (214,374) | ||||
| Operating expenses | (2,063,225) | (1,648,982) | (561,727) | ||||
| Operating profit before impairment allowances | 4,006,187 | 3,350,624 | 1,090,713 | ||||
| Impairment allowances on loans and advances, net | 39.6 | (2,082,360) | (2,859,578) | (566,937) | |||
| Other impairment allowances | 30 | (315,468) | (427,493) | (85,888) | |||
| Share of profit of associates | 11 | 158,658 | 336,294 | 43,195 | |||
| Net gain on sale of investment in associate | 11 | 1,314,315 | – | 357,831 | |||
| Profit before taxation | 3,081,332 | 399,847 | 838,914 | ||||
| Overseas income tax expense | (36,221) | (9,232) | (9,861) | ||||
| Net profit for the year | 3,045,111 | 390,615 | 829,053 | ||||
| Attributed to: | |||||||
| Equity holders of the parent | 3,025,865 | 381,001 | 823,813 | ||||
| Non-controlling interests | 19,246 | 9,614 | 5,240 | ||||
| Net profit for the year | 3,045,111 | 390,615 | 829,053 | ||||
| Basic earnings per share (AED/US$) | 31 | 0.51 | 0.04 | 0.14 | |||
| Diluted earnings per share (AED/US$) | 31 | 0.50 | 0.04 | 0.14 |