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Financial Strength
Long - Term
Short - Term

 Moody'sC-
A1
P-1

 Capital IntelligenceA
A
A1

 Standard & Poor's-
A-
A-2

 Fitch RatingsC/D
A+
F1

CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
30 September 2009


30/9/2009

31/12/2008

30/9/2008


KD 000's

KD 000's

KD 000's

ASSETS

Cash and short term funds

167,707

319,709

144,981

Treasury and Central Bank bonds

332,322

251,811

255,329

Due from banks and other financial institutions

495,770

939,161

1,228,232

Loans and advances

2,401,845

2,430,381

2,444,695

Investment securities

238,117

130,492

169,186

Premises and equipment

30,575

30,784

28,766

Goodwill and intangible assets

18,652

18,662

18,666

Other assets

29,798

185,651

54,407


___________

___________

___________

TOTAL ASSETS

3,714,786

4,306,651

4,344,262

LIABILITIES AND EQUITY

LIABILITIES

Due to banks and other financial institutions

1,209,920

1,042,693

1,033,002

Customer deposits

1,953,436

2,644,840

2,703,527

Subordinated loan

-

-

15,978

Other liabilities

106,527

121,725

111,422

___________

___________

___________

Total liabilities

3,269,883

3,809,258

3,863,929

___________

___________

___________

EQUITY

Equity attributable to shareholders of the parent Bank

Share capital

127,202

127,202

127,202

Treasury shares

(75)

(27,988)

Reserves

226,760

226,805

230,334

Retained earnings

90,106

91,814

149,958

Proposed dividend

-

50,881


443,993

496,702

479,506

Non-controlling Equity

910

691

827


___________

_________

__________

Total equity

444,903

497,393

480,333


___________

___________

___________

TOTAL LIABILITIES AND
EQUITY

3,714,786

__________

4,306,651

___________

4,344,262

___________

The Interim consolidated financial information has been approved for issue by the Board of Directors and signed on their behalf by:

Abdulmajeed Haji Al Shatti (Chairman & Managing Director)
Jamal Abdul Hameed Al Mutawa (Chief General Manager & CEO)

CONDENSED CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
Period Ended 30 September 2009 



30/6/2009

30/6/2008



KD 000's

KD 000's

Interest income


129,531

197,171

Interest expense


(55,903)

(105,712)


___________

___________

NET INTEREST INCOME


73,628

91,459

23,682

23,612

Fees and commissions

Fund management fees

936
1,694

Dividend income

2,271

5,347

Net gain from dealing in foreign currencies

1,771

4,997

Net gain from investment securities

20,257

30,627

Other operating income


584

842


___________

__________

OPERATING INCOME


123,129

158,578

Staff


(13,825)

(13,927)

General and administration


(8,604)

(9,812)

Depreciation


(1,670)

(1,674)



___________

___________

OPERATING EXPENSES


(24,099)

(25,458)

Profit before provisions


99,030

133,120

Impairment and other provisions


(100,693)

(23,207)



___________

___________

(LOSS) / PROFIT FROM OPERATIONS


(1,663)

109,913

Taxes and contributions


(2)

(4,786)

Directors' fees


-

(194)



___________

___________

NET (LOSS) /PROFIT FOR THE PERIOD


(1,665)

104,933



___________

___________

Attributable to:
Shareholders of the parent Bank
(1,708)
104,889
Non-controlling interests
43
44

___________

___________

(1,665)
104,933

___________

___________

(Loss)/Earnings per share attributable to shareholders of the parent Bank (fils)


_______(1.3)

_______83.2