BBK annual report eng 21.5.5

Consolidated Statement of Changes in Shareholders’ EquityYear ended 31 December 2004ForeignCumulative currencyShare Treasury Statutory General changes in translation Retained Proposedcapital stock reserve reserve fair values adjustments earnings appropriations TotalNotes BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000 BD ’000Balance at 31 December 2002 56,906 (1,053) 18,675 20,000 (586) (1,696) 22,852 15,981 131,079Approval of dividend, directors’ remunerationand donations - - - - - - - (15,981) (15,981)Net profit for the year – 2003 - - - - - - 23,310 - 23,310Portion of realised gain on non tradinginvestments (previously included inretained earnings on adoption of IAS 39) - - - - - - (1,592) - (1,592)Foreign exchange translation adjustments - - - - - 864 - - 864Net movement in cumulative changesin fair values 16 - - - - 4,572 - - - 4,572Transfer to statutory reserve - - 2,331 - - - (2,331) - -Proposed dividend 17 - - - - - - (16,941) 16,941 -Proposed directors’ remuneration 17 - - - - - - (260) 260 -Proposed donations 17 - - - - - - (600) 600 -Balance at 31 December 2003 56,906 (1,053) 21,006 20,000 3,986 (832) 24,438 17,801 142,252Approval of dividend, directors’ remunerationand donations - - - - - - - (17,801) (17,801)Net profit for the year – 2004 - - - - - - 25,678 - 25,678Portion of realised gain on non tradinginvestments (previously included inretained earnings on adoption of IAS 39) - - - - - - (2,135) - (2,135)Foreign exchange translation adjustments - - - - - 324 - - 324Net movement in cumulative changesin fair values 16 - - - - 9,460 - - - 9,460Transfer to statutory reserve - - 2,568 - - - (2,568) - -Proposed dividend 17 - - - - - - (19,764) 19,764 -Proposed directors’ remuneration 17 - - - - - - (260) 260 -Proposed donations 17 - - - - - - (600) 600 -Balance at 31 December 2004 56,906 (1,053) 23,574 20,000 13,446 (508) 24,789 20,624 157,778Month end average equity – 2004 144,644Month end average equity – 2003 131,206Retained earnings include BD 9,305 thousand (2003: BD 6,156 thousand) of non-distributable reserves.The movement in foreign exchange translation adjustment represents the net foreign exchange translation gain arising from translating the financialstatements of the Group’s foreign entities into Bahraini dinars.The attached notes 1 to 40 form part of these consolidated financial statements.Annual Report 2004 36 | 37