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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Thousands of US dollars)
42. Acquisitions
and disposals
(continued)
The details of the purchase consideration given, fair value of the net assets
acquired and gain on bargain purchase arising on the acquisition are as
follows:
Fair value of identifiable net assets of RBS
as on 15 October 2010
97,136
Percentage of identifiable net assets acquired
99.37%
Fair value of identifiable net assets of RBS
acquired as on 15 October 2010
96,524
Less
Purchase consideration paid in cash
(58,113)
Gain on bargain purchase
38,411
The details of the assets and liabilities acquired are as follows:
Acquirees’
Fair value
Fair value
carrying amount
adjustments/
as at
as at 15 October 2010
intangibles
15 October 2010
recognised
Cash and balances
with treasury banks
68,086
-
68,086
Balances with other banks
22,091
-
22,091
Lending to financial
institutions
17,586
-
17,586
Investments
341,980
-
341,980
Advances
447,259
(16,483)
430,777
Operating fixed assets
(excluding intangibles
recognised on business
combination)
42,491
1,671
44,162
Intangible assets
377
29,773
30,149
Deferred tax assets - net
33,455
(10,021)
23,434
Other assets - net
26,310
14,407
40,717
Bills payable
(12,842)
-
(12,842)
Borrowings
(48,837)
-
(48,837)
Deposits and other
accounts
(782,454)
(187)
(782,641)
Subordinated accounts
(6,973)
27
(6,946)
Other liabilities
(70,581)
-
(70,581)
Net identifiable assets
77,949
19,187
97,136
81
Dar Al-Maal Al-Islami Trust
Annual Report 2011