2011 Annual Report - Khaleeji Commercial Bank BSC

KHALEEJI COMMERCIAL BANK BSC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 December 2011
BD 000’s
5. FINANCIANG ASSETS (continued)
The movement in impairment allowances are as follows:
2011 specific Collective total
At 1 January 14,189 2,163 16,352
Additions / (write back) during the year 1,962 (200) 1,762
At 31 December 16,151 1,963 18,114
2010 Specific Collective Total
At 1 January 7,897 2,355 10,252
Additions / (write back) during the year 6,292 (192) 6,100
At 31 December 14,189 2,163 16,352
6. INVESTMENT SECURITIES
31 December 31 December
2011 2010
Equity type instruments:
At fair value through income statement
- Unquoted equity securities (at fair value) 17,452 12,796
At fair value through equity
- Quoted equity securities (at fair value) 211 274
- Unquoted equity securities (carried at cost less impairment) 72,471 69,648
90,134 82,718
Debt type instruments:
At amortised cost
- Sukuk 21,672 17,561
111,806 100,279
Unquoted equity securities at fair value through equity comprise investments in closed companies managed by external
investment managers or represent investments in projects promoted by the Group. These investments are carried at cost less
impairment in the absence of a reliable measure of fair value. The Group intends to exit these investments principally by means
of private placements, strategic buy outs, sale of underlying assets or through initial public offerings.
During the year impairment allowances of BD 1,795 thousand (2010: BD 1,793 thousand) was recognised on equity securities
carried at cost.
Debt type instruments are net of collective impairment allowances of BD 84 thousand (2010: BD 52 thousand).
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Annual Report 2011