DUKHAN BANK Q.P.S.C. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTH PERIOD ENDED 31 MARCH 2025 (REVIEWED)
DUKHAN BANK Q.P.S.C. | |
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three month period ended 31 March 2025 | |
CONTENTS | PAGES |
Independent auditor's review report | 1 |
Interim consolidated statement of financial position | 2 |
Interim consolidated statement of income | 3 |
Interim consolidated statement of comprehensive income | 4 |
Interim consolidated statement of income and attribution related to quasi-equity | 5 |
Interim consolidated statement of changes in equity | 6 - 7 |
Interim consolidated statement of cash flows | 8 |
Interim consolidated statement of changes in off-balance sheet assets under management | 9 |
Notes to the interim condensed consolidated financial statements | 10 - 30 |
Review report on the interim condensed consolidated financial statements to the board of directors of Dukhan bank Q.P.S.C.
Introduction
We have reviewed the accompanying interim consolidated statement of financial position of Dukhan Bank
Q.P.S.C. (the "Parent") and its subsidiaries (together "the Group") as at 31 March 2025 and the related interim consolidated statement of income, interim consolidated statement of comprehensive income, interim consolidated statement of income and attribution related to quasi-equity, interim consolidated statement of changes in equity, interim consolidated statement of cash flows and interim consolidated statement of changes in off balance sheet assets under management for the three-month period then ended, and certain explanatory notes. Management is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with Financial Accounting Standard ("FAS") 41 "Interim financial reporting" issued by the Accounting and Auditing Organisation for Islamic Financial Institutions ("AAOIFI") as modified by Qatar Central Bank ("QCB"). Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review.
Scope of review
We conducted our review in accordance with 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 interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with FAS 41 issued by AAOIFI as modified by QCB.
For and on behalf of PricewaterhouseCoopers - Qatar Branch Qatar Financial Market Authority registration number 120155
Waleed Tahtamouni
Auditor's registration number 370 Doha, State of Qatar
20 April 2025
PricewaterhouseCoopers - Qatar Branch, P.O.Box: 6689, Doha, Qatar.
Ministry of Commerce and Industry License number 6 / Qatar Financial Markets Authority License number 120155 T: +974 4419 2777, F:+974 4467 7528, https://www.pwc.com/me
DUKHAN BANK Q.P.S.C.
INTERIM CONSOLIDATED STATEMENTOF FINANCIAL POSITION
As at 31 March 2025
31 March
2025
/fotes {Reviewedj
QAR'000
31 December
2024
(Audited) QAR'000
Assets | |||
Cash and balances with Qatar Central Bank | 7 | 3,712,389 | 3,638,626 |
Due from banks | 8 | 4,666,921 | 5,811,325 |
Financing assets | 9 | 86,591,686 | 86,212,369 |
Investment securities | 10 | 19,634,715 | 19,882,112 |
Investment in associate | 11 | 10,384 | 10,444 |
Investment properties | 134,496 | 134,554 | |
Fixed assets | 866,709 | 830,161 | |
Intangible assets | 16 | 737,163 | 756,780 |
Other assets | 1,361,658 | 663,298 | |
Total assets | 117,716,121 | 117,939,669 | |
Liabilities | |||
Due to banks | 12 | 15,242,759 | 14,307,611 |
Customer current accounts | 17,236,193 | 15,581,744 | |
Sukuk financing | 2,966,897 | 2,933,144 | |
Other liabilities | 2,704,443 | 2,568,786 | |
Total liabilities | 38,150,292 | 35,391,285 | |
Quasi-equity | |||
Participatory investment accounts | 13 | 64,767,115 | 67,769,323 |
Equity Share capital | 14(a) | 5,234,100 | 5,234,100 |
Legal reserve | 14(b) | 4,908,415 | 4,889,319 |
Treasury shares | 14(e) | (14,312) | (21,120) |
Risk reserve | 14(c) | 1,682,594 | 1,682,594 |
Fair value reserve | 10 | (39,223) | (37,705) |
Cash flow hedge reserve | 8,796 | (3,730) | |
Other reserves | 14(d) | 75,737 | 75,737 |
Retained earnings | 1,121,766 | 1,139,025 | |
Total equity attributable to owners of the bank | 12,977,873 | 12,958,220 | |
Non-controlling interests | 91 | 91 | |
Sukuk eligible as additional capital | 20 | 1,820,750 | 1,820,750 |
Total equity | 14,798,714 | 14,779,061 | |
Total liabilities, quasi-equity and equity | 117,716,121 | 117,939,669 | |
Off-balance sheet assets under management | 22 | 4,869,610 | 4,776,563 |
Contingent liabilities and commitments | 15 | 65,499,821 | 58,100,488 |
These interim condensed consolidated financial statements were approved by the Board of Directors on 20 April 2025 and were signed on its behalf by:
Abdulla Bin Fahad Bin Jassim Al-Thani Chairman
Mohamed Bin Hamad Bin Ah d Hashem
I"-@t IDEkTlNCATlOti PURPOSE f¥JLY
ensed consolidated financial state
Jassim Al Thani Ac ng Group Chief E cutive Officer Executive Board Member Managing Director
Independent auditors' review report is set out on page 1.
The attached notes 1 to 22 form integral part of these interim con
ents.
DUKHAN BANK Q.P.S.C.
INTERIM CONSOLIDATED STATEMENT OF INCOME For the three month period ended 31 March 2025For the three month
period ended 31 March
Notes | 2025 (Reviewed) QAR'000 | 2024 (Reviewed) QAR'000 | ||
Net income from financing activities | 1,226,555 | 1,287,782 | ||
Net income from investing activities | 259,498 | 300,368 | ||
Finance cost | (243,902) | (279,782) | ||
Income from financing and investing activities, Net | 1,242,151 | 1,308,368 | ||
Fee and commission income | 140,329 | 89,353 | ||
Fee and commission expense | (46,057) | (40,417) | ||
Net fee and commission income | 94,272 | 48,936 | ||
Net foreign exchange gain | 30,612 | 29,983 | ||
Share of results of associate | 11 | (60) | 2,817 | |
Other income | 6,694 | 4,618 | ||
Total income | 1,373,669 | 1,394,722 | ||
Staff costs | (108,690) | (94,393) | ||
Depreciation and amortisation | (43,462) | (29,197) | ||
Other expenses | (63,936) | (71,323) | ||
Total expenses | (216,088) | (194,913) | ||
Net impairment losses on financing assets | 4(a) | (39,825) | (24,739) | |
Net impairment losses on due from banks | 4(a) | (219) | (399) | |
Net impairment losses on investment securities | 4(a) | (218) | (660) | |
Net impairment reversals/ (losses) on other exposures | ||||
subject to credit risk 4(a) | 5,044 | (11,329) | ||
(35,218) | (37,127) | |||
Net profit for the period before tax and return to quasi- | ||||
equity | 1,122,363 | 1,162,682 | ||
Less : Net profit attributable to quasi-equity | 13 | (685,281) | (739,674) | |
Net profit for the period before tax | 437,082 | 423,008 | ||
Tax expense | (6) | (6) | ||
Net profit for the period | 437,076 | 423,002 | ||
Net profit for the period attributable to: | ||||
Equity holders of the Bank | 437,076 | 423,002 | ||
Non-controlling interests | - | - | ||
Net profit for the period | 437,076 | 423,002 | ||
Earnings per share | ||||
Basic and diluted earnings per share (QAR per share) | 17 | 0.080 | 0.078 | |
Independent auditors' review report is set out on page 1.
The attached notes 1 to 22 form integral part of these interim condensed consolidated financial statements.
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |