2011 Annual Report - Khaleeji Commercial Bank BSC

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KHALEEJI COMMERCIAL BANK BSC NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 December 2011 BD 000’s 31. RISK MANAGEMENT (continued) CAPITAL MANAGEMENT (continued) The Bank’s regulatory capital position at 31 December was as follows: 31 December 31 December 2011 2010 Total risk weighted assets 429,049 416,941 Tier 1 capital 116,308 118,041 Tier 2 capital 2,207 222 Total regulatory capital 118,515 118,263 Total regulatory capital expressed as a percentage of total risk weighted assets 27.62 28.36 The Bank has complied with all externally imposed capital requirements throughout the year. Capital allocation The allocation of capital between specific operations and activities is primarily driven by regulatory requirements. The Bank’s capital management policy seeks to maximise return on risk adjusted while satisfying all the regulatory requirements. The Bank’s policy on capital allocation is subject to regular review by the Board. 32. PROPOSED APPROPRIATIONS The Board of Directors propose the following appropriations for 2011 which are subject to shareholders approval in the ensuing Annual General Meeting: 2011 2010 Directors’ remuneration - - Charity - - Zakah 214 250 33. COMMITMENTS The commitments contracted in the normal course of business of the Bank: 2011 2010 Undrawn commitments to extend finance 4,619 13,923 Financial guarantees 7,423 1,667 Commitment to investments 5,655 - 17,697 15,590 Performance obligations During the ordinary course of business, the Group may enter into performance obligations in respect of certain of its infrastructure development projects. It is the usual practice of the Group to pass these performance obligations, wherever possible, on to the companies that own the projects. In the opinion of the management, no liabilities are expected to materialise on the Group at 31 December 2011 due to the performance of any of its projects. 34. SOCIAL RESPONSIBILITY The Bank discharges its social responsibilities through donations to charitable causes and organisations. 35. COMPARITIVES Certain prior period amounts have been regrouped to conform to current year’s presentation. Such regrouping did not affect previously reported profit or equity. 78 Annual Report 2011
KHALEEJI COMMERCIAL BANK BSC risk management disclosures (Based on Basel 2 and IFSB guidelines) These disclosures have been prepared in accordance with the Public Disclosure Module (“PD”), Section PD-1.3: Disclosures in Annual Reports, CBB Rule Book, and Volume II for Islamic Banks. To avoid any duplication, information required under PD module but already disclosed in other sections of annual report has not been reproduced. These disclosures are part of the annual report for the year ended 31 December 2011 and should be read in conjunction with the consolidated financial statements for the year ended 31 December 2011 and other sections of the annual report. Risk Management Disclosures 79
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MOVING FORWARD Annual Report 2011
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2011 Annual Report - Khaleeji Commercial Bank BSC

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