Consolidated Statement of Changes in Equity
For the year ended 31 December 2024
| Attributable to equity holders of the Parent Company | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | Share premium | Treasury shares | Treasury share reserve | Statutory reserve | Voluntary reserve | Effect of changes in ownership interest of subsidiaries | Other reserve | Insurance and Reinsurance finance reserve | Cumulative changes in fair value reserve | Foreign Currency translation adjustments | Revaluation reserve | Retained earnings | Subtotal | Subordinated perpetual tier 2 bonds | Noncontrolling interests | Total equity | |
| KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | |
| As at 31 December 2023 | 28,457 | 50,947 | (429) | 3,099 | 28,457 | 40,671 | (2,837) | (1,643) | 839 | (771) | (39,315) | 16,014 | 112,770 | 236,259 | 60,000 | 77,884 | 374,143 |
| Profit for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 25,922 | 25,922 | ‑ | 5,900 | 31,822 |
| Other comprehensive income (loss) for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 359 | 175 | 4,238 | (10,880) | (1,407) | ‑ | (7,515) | ‑ | (1,150) | (8,665) |
| Total comprehensive income (loss) for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 359 | 175 | 4,238 | (10,880) | (1,407) | 25,922 | 18,407 | ‑ | 4,750 | 23,157 |
| Recycled on sale of investments carried at FVTOCI | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 716 | ‑ | ‑ | (716) | ‑ | ‑ | ‑ | ‑ |
| Sale of treasury shares (Note 18) | ‑ | ‑ | 429 | 1,169 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 1,598 | ‑ | (170) | 1,428 |
| Dividend paid (Note 18) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (10,529) | (10,529) | ‑ | ‑ | (10,529) |
| Interest on subordinated perpetual tier 2 bonds | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (3,000) | (3,000) | ‑ | ‑ | (3,000) |
| Amortization of subordinated Tier 2 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (124) | (124) | ‑ | ‑ | (124) |
| Movement in other reserve | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (218) | ‑ | ‑ | ‑ | ‑ | ‑ | (218) | ‑ | ‑ | (218) |
| Acquisition of non‑controlling interests | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 154 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 154 | ‑ | (189) | (35) |
| Dilution gain (loss) resulted from merging of two entities (Note 26) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 12 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 12 | ‑ | (12) | ‑ |
| Dividend paid to noncontrolling interests | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (4,766) | (4,766) |
| As at 31 December 2024 | 28,457 | 50,947 | ‑ | 4,268 | 28,457 | 40,671 | (2,671) | (1,502) | 1,014 | 4,183 | (50,195) | 14,607 | 124,323 | 242,559 | 60,000 | 77,497 | 380,056 |
The attached notes 1 to 31 form part of this consolidated financial statements.
| Attributable to equity holders of the Parent Company | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | Share premium | Treasury shares | Treasury share reserve | Statutory reserve | Voluntary reserve | Effect of changes in ownership interest of subsidiaries | Other reserve | Insurance and reinsurance finance reserve | Cumulative changes in fair value reserve | Foreign currency translation adjustments | Revaluation reserve | Retained earnings | Subtotal | Subordinated Perpetual tier 2 bonds | Noncontrolling interests | Total equity | |
| KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | KD 000’s | |
| As at 31 December 2022The equity balances for the year ended 31 December 2022 has been restated to reflect the impact of initial adoption of IFRS 17 and IFRS 9. For more details, please refer to the prior year financial statements issued for the year ended 31 December 2023. | 28,457 | 50,947 | (429) | 3,099 | 27,835 | 38,416 | (2,837) | (628) | 1,264 | (455) | (41,405) | 17,738 | 109,279 | 231,281 | 60,000 | 76,955 | 368,236 |
| Profit for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 21,206 | 21,206 | ‑ | 8,323 | 29,529 |
| Other comprehensive income (loss) for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 13 | (425) | 306 | 2,090 | 1,576 | ‑ | 3,560 | ‑ | (923) | 2,637 |
| Total comprehensive income for the year | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 13 | (425) | 306 | 2,090 | 1,576 | 21,206 | 24,766 | ‑ | 7,400 | 32,166 |
| Dividend paid (Note 18) | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (15,323) | (15,323) | ‑ | ‑ | (15,323) |
| Interest on subordinated perpetual tier 2 bonds | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (3,311) | (3,311) | ‑ | ‑ | (3,311) |
| Amortization of subordinated Tier 2 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (126) | (126) | ‑ | ‑ | (126) |
| Movement in other reserve | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (1,028) | ‑ | ‑ | ‑ | ‑ | ‑ | (1,028) | ‑ | (85) | (1,113) |
| Transferred related to sale of a subsidiary | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (622) | (2,836) | 3,458 | ‑ | ‑ | ‑ | ‑ | |
| Transferred related to sale of a property | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (464) | 464 | ‑ | ‑ | ‑ | ‑ |
| Transfer to reserves | ‑ | ‑ | ‑ | ‑ | 622 | 2,255 | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (2,877) | ‑ | ‑ | ‑ | ‑ |
| Dividend paid to noncontrolling interests | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (2,624) | (2,624) |
| Non‑controlling interests arising on acquisition of subsidiaries | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | 319 | 319 |
| Non‑controlling interests reduced on divestiture of subsidiaries | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (4,081) | (4,081) |
| As at 31 December 2023 | 28,457 | 50,947 | (429) | 3,099 | 28,457 | 40,671 | (2,837) | (1,643) | 839 | (771) | (39,315) | 16,014 | 112,770 | 236,259 | 60,000 | 77,884 | 374,143 |
The attached notes 1 to 31 form part of this consolidated financial statements.