Consolidated Financial Statements and Independent Auditors' Report

Notes to the Consolidated Financial Statements
31 December 2010
10 CASH AND SHORT TERM FUNDS
2010 2009
KD 000’s KD 000’s
7 NET GAINS FROM INVESTMENT SECURITIES
2010 2009
KD 000’s KD 000’s
Realised gains on available for sale investments 2,650 11,139
Net gains from investments carried at fair value through statement of income 530 709
Realised gains on sale of associate - 1,040
8 TAXATION
3,180 12,888
2010 2009
KD 000’s KD 000’s
Contribution to Kuwait Foundation for the Advancement of Sciences 2,562 2,625
National labour support tax 6,172 5,323
Zakat 2,573 2,246
Taxation on overseas branches and subsidiaries 5,354 6,116
16,661 16,310
9 EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the profit for the year by the weighted average number of shares
outstanding during the year.
Diluted earnings per share is calculated by dividing the profit for the year by the weighted average number of shares
outstanding during the year plus the weighted average number of shares that would be issued on the conversion of
all the dilutive potential shares into shares. The diluted earnings per share arising from the issue of employee share
options does not result in any change from the reported basic earnings per share.
Cash on hand and on current account with other banks 522,072 872,511
Money at call 249,733 289,214
Balances with Central Bank of Kuwait 3,929 42,841
Deposits with banks maturing within seven days 396,195 417,674
11 LOANS AND ADVANCES TO CUSTOMERS
2010
Middle
East and
North Africa
KD 000’s
North
America
KD 000’s
Europe
KD 000’s
Asia
KD 000’s
1,171,929 1,622,240
Other
KD 000’s
Total
KD 000’s
Corporate 5,485,984 31,758 251,308 85,367 26,704 5,881,121
Retail 2,248,306 - 3,125 - - 2,251,431
Loans and advances 7,734,290 31,758 254,433 85,367 26,704 8,132,552
Provision for credit losses (279,227)
2009
Middle
East and
North Africa
KD 000’s
North
America
KD 000’s
Europe
KD 000’s
Asia
KD 000’s
Other
KD 000’s
7,853,325
Total
KD 000’s
Corporate 5,483,677 36,413 298,719 58,682 43,960 5,921,451
Retail 2,188,859 - 3,012 4 - 2,191,875
Loans and advances 7,672,536 36,413 301,731 58,686 43,960 8,113,326
Provision for credit losses (296,216)
7,817,110
2010 2009
KD 000’s KD 000’s
Profit for the year attributable to shareholders of the Bank 301,686 265,220
Weighted average number of shares outstanding during the year (thousands) 3,460,282 3,377,233
Basic and diluted earnings per share 87 fils 79 fils
Earnings per share calculations for 2009 have been adjusted to take account of the bonus shares and rights shares
issued in 2010.
68 National Bank of Kuwait - Annual Report 2010 69