UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS ?· The unaudited condensed interim financial statements…

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<ul><li><p>NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2014</p><p>UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)(Incorporated in Malaysia)</p></li><li><p>30 September 31 December</p><p>2014 2013</p><p>Note RM'000 RM'000</p><p>ASSETS</p><p>Cash and short term funds 15 193,572 308,017 </p><p>Deposits and placements with banks and other </p><p>financial institutions 656,100 327,940 </p><p>Held to maturity securities 16 233,954 200,721 </p><p>Loans, advances and receivables 17 203,564 179,882 </p><p>Derivative financial instruments 279 457 </p><p>Other assets 18 3,154 3,095 </p><p>Property and equipment 5,077 6,720 </p><p>TOTAL ASSETS 1,295,700 1,026,832 </p><p>LIABILITIES</p><p>Deposits from customers 19 149,578 164,272 </p><p>Deposits and placements of banks and other </p><p>financial institutions 20 823,545 540,313 </p><p>Other liabilities 21 4,813 3,444 </p><p>TOTAL LIABILITIES 977,936 708,029 </p><p>EQUITY</p><p>Share capital 330,000 330,000 </p><p>Other reserve 279 457 </p><p>Accumulated loss (12,515) (11,654) </p><p>TOTAL EQUITY ATTRIBUTABLE TO EQUITY</p><p>HOLDER OF THE BANK 317,764 318,803 </p><p>TOTAL LIABILTIES AND EQUITY 1,295,700 1,026,832 </p><p>COMMITMENTS AND CONTINGENCIES 27 57,354 80,277 </p><p>The Condensed Interim Financial Statements should be read in conjunction with the audited</p><p>financial statements of the Bank for the year ended 31 December 2013.</p><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>(Incorporated in Malaysia)</p><p>UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2014</p><p>Page 2</p></li><li><p>Note 30 Sept 30 Sept 30 Sept 30 Sept</p><p>2014 2013 2014 2013</p><p>RM'000 RM'000 RM'000 RM'000</p><p>Interest income 22 5,452 4,049 14,598 11,866 </p><p>Interest expense 23 (1,096) (1,501) (2,920) (4,702) </p><p>Net interest income 4,356 2,548 11,678 7,164 </p><p>Other operating income 24 110 67 1,643 954 </p><p>Net operating income 4,466 2,615 13,321 8,118 </p><p>Other operating expenses 25 (5,777) (3,694) (13,822) (10,390) </p><p>Operating loss (1,311) (1,079) (501) (2,272) </p><p>Net allowance for impairment on loans</p><p>and advances 26 (937) (1,425) (360) (1,425) </p><p>Loss before tax expense (2,248) (2,504) (861) (3,697) </p><p>Tax expense - 31 - 31 </p><p>Net profit/(loss) for the period (2,248) (2,473) (861) (3,666) </p><p>Other comprehensive income, net of income tax</p><p>Items that may be reclassified subsequently to</p><p>profit or loss:</p><p>Cash flow hedge</p><p>Effective portion of change in fair value (75) 88 (178) 396 </p><p>Total comprehensive income for the period (2,323) (2,385) (1,039) (3,270) </p><p>The Condensed Interim Financial Statements should be read in conjunction with the audited</p><p>financial statements of the Bank for the year ended 31 December 2013.</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>(Incorporated in Malaysia)</p><p>UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME</p><p>3rd Quarter Ended Nine Months Ended</p><p>Page 3</p></li><li><p>Hedging Accumulated</p><p>Share capital reserve losses Total</p><p>RM'000 RM'000 RM'000 RM'000</p><p>At 1 January 2014 330,000 457 (11,654) 318,803 </p><p>Net profit for the period - - (861) (861) </p><p>Cash flow hedge: change in fair value - (178) - (178) </p><p>At 30 September 2014 330,000 279 (12,515) 317,764 </p><p>At 1 January 2013 310,000 - (5,337) 304,663 </p><p>Net loss for the period - - (3,666) (3,666) </p><p>Cash flow hedge: change in fair value - 396 - 396 </p><p>At 30 September 2013 310,000 396 (9,003) 301,393 </p><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>(Incorporated in Malaysia)</p><p>UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>The Interim Financial Statements should be read in conjunction with the audited financial statements of the Bank for the</p><p>year ended 31 December 2013.</p><p>Non distributable</p><p>STATEMENT OF CHANGES IN EQUITY</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>Page 4</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>30 Sept 30 Sept</p><p>2014 2013</p><p>RM'000 RM'000</p><p>Cash flows from operating activities</p><p>Loss before taxation for the period (861) (3,697) </p><p>Adjustment for non-cash items:</p><p>Allowance for impaired loans 360 1,425 </p><p>Depreciation of property and equipment 1,762 1,711 </p><p>Operating profit/(loss) before working capital changes 1,261 (561) </p><p>Changes in working capital:</p><p>Increase in deposits and placements with banks (328,160) (72,838) </p><p>Increase in loans, advances and receivables (24,042) (94,376) </p><p>Increase in other assets (90) (979) </p><p>(Decrease)/Increase in deposits from customer (14,694) 38,196 </p><p>Increase in deposits and placements of banks and other FI. 283,232 264,014 </p><p>Increase in other liabilities 1,369 578 </p><p>Income tax refund/(paid) 31 (94) </p><p>Net cash (used in)/generated from operating activities (81,093) 133,940 </p><p>Cash flows from investing activities</p><p>Purchase of property and equipment (119) (358) </p><p>Net investment in held to maturity securities (33,233) (33,483) </p><p>Net cash used in investing activities (33,352) (33,841) </p><p>Net change in cash and cash equivalent (114,445) 172,968 </p><p>Cash and cash equivalents at beginning of the period 308,017 41,524 </p><p>Cash and cash equivalents at end of the period 193,572 214,492 </p><p>Analysis of cash and cash equivalents</p><p>Cash and short term funds at end of period 193,572 214,492 </p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>The Interim Financial Statements should be read in conjunction with the audited financial </p><p>statements of the Bank for the year ended 31 December 2013.</p><p>(Incorporated in Malaysia)</p><p>UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>STATEMENT OF CASH FLOW</p><p>Page 5</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>1. GENERAL INFORMATION</p><p>2. BASIS OF PREPARATION</p><p>The unaudited interim condensed financial statements for the nine months ended 30</p><p>September 2014 have been prepared under the historical cost convention except for the</p><p>valuation of derivative financial instruments that are carried at fair value.</p><p>NOTES TO UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>(Incorporated in Malaysia)</p><p>The unaudited condensed interim financial statements have been prepared in accordance</p><p>with MFRS 134: Interim Financial Reporting issued by the Malaysian Accounting Standards</p><p>Board ("MASB") and Policy Document on Financial Reporting issued by Bank Negara</p><p>Malaysia ("BNM").</p><p>The unaudited condensed interim financial statements do not include all of the information</p><p>required for full annual financial statements, and should be read in conjunction with the</p><p>audited financial statements of the Bank as at and for the financial year ended 31 December</p><p>2013. The explanatory notes attached to the interim financial statements provide an</p><p>explanation of the events and transactions that are significant for an understanding of the</p><p>financial position and performance of the Bank since the year ended 31 December 2013.</p><p>National Bank of Abu Dhabi Malaysia Berhad ("the Bank") is principally engaged in the</p><p>provision of banking and related financial services.</p><p>The Bank is a company limited by shares, a licenced bank, incorporated and domiciled in</p><p>Malaysia. The principal place of business of the bank is located at Level 28, Menara Maxis,</p><p>Kuala Lumpur City Centre, 50088 Kuala Lumpur.</p><p>The Bank is a wholly-owned subsidiary of National Bank of Abu Dhabi PJSC ("Holding</p><p>Company"), a bank incorporated in Abu Dhabi, United Arab Emirate and listed at the Abu</p><p>Dhabi Securities Exchange. The ultimate parent company of the Bank is the Abu Dhabi</p><p>Investment Council, an entity owned by the Government of the Emirates of Abu Dhabi.</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>Page 6</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>NOTES TO UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>(Incorporated in Malaysia)</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>2. BASIS OF PREPARATION (continued)</p><p>The significant accounting policies and methods of computation applied in the unaudited</p><p>interim financial statements are consistent with those adopted in the most recent annual</p><p>financial statements for the year ended 31 December 2013, except for the adoption of the</p><p>following MFRSs, IC Interpretation and Amendments to MFRSs during the current financial</p><p>period:</p><p>MFRSs, Interpretations and amendments effective for annual periods beginning on or after 1 </p><p>July 2014:</p><p> Amendments to MFRS 2, Share-based Payment</p><p> Amendments to MFRS 3, Business Combinations</p><p> Amendments to MFRS 8, Operating Segments</p><p> Amendments to MFRS 13, Fair Value Measurement</p><p> Amendments to MFRS 116, Property, Plant and Equipment</p><p> Amendments to MFRS 119, Employee Benefits Defined Benefit Plans: Employee</p><p> Contributions</p><p> Amendments to MFRS 138, Intangible Assets</p><p> Amendments to MFRS 124, Related Party Disclosures</p><p> Amendments to MFRS 140, Investment Properties</p><p>MFRSs, Interpretations and amendments that the effective date to be announced by MASB:</p><p> MFRS 9, Financial Instruments (2009)</p><p> MFRS 9, Financial Instruments (2010)</p><p> MFRS 9, Financial Instruments (2013) - Financial Instruments Hedge Accounting and</p><p>Amendments to MFRS 9, MFRS 7 and MFRS 139</p><p> Amendments to MFRS 7, Financial Instruments: Disclosures Mandatory Effective Date of</p><p>MFRS 9 and Transition Disclosures</p><p>The Bank plans to apply the abovementioned accounting standards, amendments and</p><p>interpretations from the annual period beginning on 1 January 2015 for those accounting</p><p>standards, amendments or interpretations that will be effective for annual periods beginning</p><p>on or after 1 July 2014.</p><p>Page 7</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>NOTES TO UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>(Incorporated in Malaysia)</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>2. BASIS OF PREPARATION (continued)</p><p>3. SIGNIFICANT ACCOUNTING POLICIES</p><p>4 ESTIMATES</p><p>5. AUDITORS REPORT ON PRECEDING ANNUAL FINANCIAL STATEMENTS</p><p>6. COMMENTS ABOUT SEASONAL OR CYCLICAL FACTORS</p><p>The preparation of these condensed interim financial statements requires management to</p><p>make judgements, estimates and assumptions that affect the application of accounting</p><p>policies and reported amounts of assets and liabilities, income and expense. Actual results</p><p>may differ from these estimates.</p><p>In preparing these condensed interim financial statements, the significant judgements made</p><p>by management in applying the Banks accounting policies and the key sources of estimation</p><p>and uncertainty were the same as those that were applied to the audited financial statements</p><p>as at and for the year ended 31 December 2013.</p><p>The initial application of the accounting standards, amendments or interpretations are not</p><p>expected to have any material financial impact to the current period and prior period</p><p>financial statements of the Bank. IC Interpretation 21: Levies does not have any impact on</p><p>the financial statements of the Bank as it is not relevant to the operations of the Bank.</p><p>The auditors' report on the audited financial statements for the financial period ended 31</p><p>December 2013 was not qualified.</p><p>The operations of the Bank were not materially affected by any seasonal or cyclical factors</p><p>since the financial year ended 31 December 2013.</p><p>The accounting policies applied by the Bank in these condensed interim financial statements</p><p>are the same as those applied by the Bank in its audited financial statements as at and for the</p><p>year ended 31 December 2013.</p><p>Page 8</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>NOTES TO UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS</p><p>(Incorporated in Malaysia)</p><p>FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2014</p><p>7. UNUSUAL ITEMS DUE TO THEIR NATURE, SIZE OR INCIDENCE</p><p>8. CHANGES IN ESTIMATES</p><p>9.</p><p>SECURITIES</p><p>10. DIVIDEND</p><p>11. SEGMENTAL REPORTING ON REVENUE, PROFIT AND ASSETS</p><p>12. SIGNIFICANT EVENTS DURING THE FINANCIAL PERIOD</p><p>13. SUBSEQUENT EVENTS</p><p>14. CHANGES IN COMPOSITION OF THE BANK</p><p>There were no significant changes in the composition of the Bank for the period ended 30</p><p>September 2014.</p><p>There were no significant events subsequent to the statement of financial position date</p><p>which have not been disclosed in these condensed interim financial statements.</p><p>There were no significant events during the period ended 30 September 2014 that have not</p><p>been disclosed in these condensed interim financial statements.</p><p>Segmental reporting has not been prepared as there is no other segment other than the</p><p>Wholesale Banking.</p><p>There were no dividends paid or declared for the period ended 30 September 2014.</p><p>There were no unusual items affecting the assets, liabilities, equity, net income or cash flow</p><p>of the Bank for the period ended 30 September 2014.</p><p>There were no material estimated amounts in the period ended 30 September 2014.</p><p>There were no other issuance, cancellation, repurchase, resale or repayment of debt and</p><p>equity securities for the period under review.</p><p>ISSUANCE, REPURCHASE AND REPAYMENTS OF DEBT AND EQUITY </p><p>Page 9</p></li><li><p>NATIONAL BANK OF ABU DHABI MALAYSIA BERHAD (965488-H)</p><p>15. CASH AND SHORT TERM FUNDS</p><p>30 September 31 December</p><p>2014 2013</p><p>RM'000 RM'000</p><p>Cash and balances with banks and other</p><p>financial institutions 1,059 2,232 </p><p>Money at call and deposit placements</p><p>maturing within three months 192,513 305,785 </p><p>193,572 308,017 </p><p>16. HELD TO MATURITY SECURITIES</p><p>30 September 31 December</p><p>2014 2013</p><p>RM'000 RM'000</p><p>At amortised cost</p><p>Government securities &amp; treasury bills:</p><p>Bank Negara Malaysia monetary notes 57,596 24,831 </p><p>Money market instruments:</p><p>Negotiable instruments of deposit 169,797 169,331 </p><p>Non-money market instruments:</p><p>Islamic private debt securities 6,561 6,559 </p><p>233,954 200,721 </p><p>17. LOANS, ADVANCES AND RECEIVABLES</p><p>3...</p></li></ul>