59 / 87
Notes to the Consolidated Financial Statements
(Thousands of US dollars)
57
Dar Al-Maal Al-Islami Trust
Annual Report 2014
15. Investments in
associates
(continued)
BBK B.S.C., one of the largest commercial banks in Bahrain with a presence
in Kuwait, India and Dubai, provides services in the following four segments:
•
Retail Banking customer deposit, consumer finance and credit facilities;
•
Corporate Banking deposits and current account facilities to corporations;
•
International Banking loans, deposits and credit facilities to international
units;
•
Investment Banking treasury and other activities.
Solidarity Group Holding B.S.C. (c) is a Bahrain based joint stock company
engaged in providing cooperative insurance services according to the Islamic
Sharia principles. There is no quoted market price for its shares. The company’s
products are structured in two segments; individual products and corporate
products.
At 31 December the Group held the following interest at fair value:
2014
2013
Stock
Fair
Carrying
Fair
Carrying
Exchange
value
amount
value amount
Faisal Islamic Bank
of Egypt
Egypt Stock Exchange
-
-
230,064 272,656
BBK B.S.C.
Bahrain Bourse
325,911 442,360 268,545 431,236
Contingent liabilities relating to the Group’s interest in the associates are found
in note 37.
Summarised financial information for associates
Set out below are the summarised financial information for Faisal Islamic
Bank of Egypt, BBK B.S.C. and Solidarity Group Holding B.S.C. (c) which are
accounted for using the equity method.
Summarised balance sheet
At 31 December
Faisal Islamic Bank
Solidarity Group
of Egypt
BBK B.S.C.
Holding B.S.C. (c)
Total
2014
2013 2014 2013 2014 2013 2014 2013
Cash and cash
equivalents
- 491,357 737,912 595,098 32,542 33,668 770,454 1,120,123
Other assets
- 6,035,916 8,548,393 7,974,303 293,866 318,327 8,842,259 14,328,546
Total assets
- 6,527,273 9,286,305 8,569,401 326,408 351,995 9,612,713 15,448,669
Financial liabilities
-
10,739 1,569,406 1,266,138
-
- 1,569,406 1,276,877
Other liabilities
- 6,050,387 6,763,711 6,420,167 89,017 94,318 6,852,728 12,564,872
Total liabilities
- 6,061,126 8,333,117 7,686,305 89,017 94,318 8,422,134 13,841,749
Net assets
- 466,147 953,188 883,096 237,391 257,677 1,190,579 1,606,920