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EYBuildinq a betterworkinri world
aBAnaxa t r{K (P t(|slAx) ui lEl
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AUDITORS' REPORT TO THE MEMBERS
we have audited rhe annexed statement ot tinancia posiridnofatB.r!*.6ank(p.kistan)Ltmited(the Bano a3 at 31 De.€mb.r 2o17, and the rdhted protit and tdss account, srardment otcomprehensive income, cash rlow statemant and st.tement or chanqes in equity toqethe. wirh lhenotesrormhq part lhereof (here'ln-atter reteiied to asthe,tinancia 5tatements ) for the yearthen ended, ln which areincorporated the unaudtted certified reiurns trom the branches eicepir0rfjflaen branches which have beenaudited by 0s and we state that we have obkined a thelnformalion and expranalions whlch, to the bestotour knowedqe and betiet, were nec€ssarylorthe purp0ses or ouf .!dlt.
It isthe responsibirity ol the Baik s aoard ot Dnectors to estab tsh and maintaln a sysrdm ofinternarc0ntror, and prepare and presenl ihe tinanchrstatements in conro.mtywilir approvedaccounrinq stdndardsand t|re requ rements of the Bankinq comDanies ordinance,1952 (LV of1962), andthe companies Ordinance,1904(XLVt ot 1984). our responstbJtity is to exp.esr anop,n,onon these statemenrs bas€don oursudit.
weconducted our audil in accardance with the nternaiionat sta.d€rds on Auditinq as appticabte idPakisbn.These slandards requirethat we ptan and pertormthe audit to obtaln re;sona;Lassuranceabout whetherrhe financiatstatements are tree ot any matertatmhstalement. An audit
i,,o !.. .G Lerr5.Ard.ditdro'r!roesar!4insrra.(oJrrinqoo.(iesaldsgll.dlr
verirication, whrch in case oftoa.s and advances covered more than sltry p€rcent o, the totalroans and sdvances or the Bank
lt ". Ili": t.F b"9l:!l l(corrr, !w r+ lepr bv rne Bcrr as.eol red o/ rrconDcner o'd 1dr..i,a34/Xt V ot l9S!rdnd tl r"-,,ns re.a,ed ro doove,e.etrediromthe b.anches have been lound ad€quate torthe pu.poses ol .ur .udlti
the statement or ti..ncia posiflon and prolt andtossaccouni togerher wtththe::1:l rl*"9: h:l:.bl"l !11r. uo n co,'oJ mitv w rh the adnhrnq c ompaliesu,d 1.1"c 196? 4 Vt ol to62r. ard the comD.n es ora,ncr c., r934 (r_v1 o.r"d4,anoa.d,naqreeTertril|,\eboo[!ora."orntand.,etLr||rerinaccordance with accouniinq potictes consistenity;
the€rpendilufe hcrred durinq the year sas torthe pufpose ofthe Bank,s
the business conducted, rhvestmenrs m.de.ndyear were in accordance with the objectsottheBankwhich have come toournoticehav€ b..i
the expenditure incu(edduriid theBank and the transactions dr de
within the powers otthe Bank;
EY
- (c) inouropinion, and lothe bert ol olr into.mation andaccordinq to lhe explanations qiven tou. the statedent of tinanci.l position, prdlit and ross accouil, st.tement of comprehenslveincome, cash flowstatemenr and statehenl ofchanges in equity toqether wtth the notes
_ rofmrnq part thereol conlorm uith approved ac.ountlnq standards as applicable ln Pakistanand qive ihe iniormation requlred by the Bankinq Companies Ordtn.nce,1962 (LV|] ot1952), and the companres Ordinance,1934(XLVIlol1934), h the manner so requtr.d andgrve a trueand rakvjeuol thestate or tha knk.sarra?s as at 31D..ember 2017 and irs- troe baran.e or the loss, comprehenslve toss,lts cash flowsan! changes Inequityfortheyear then ended; .nd
- (d) rn our opinion zakat deducrible ai sou.ce under the zakat:nd ushr ordinance, 19ao(xv tjor 1930) was deducted bythe Bank 3nd deDosited in the centra zakatFund estabtishedunder section 7 ot th.t Ordin:nce-
i/ (",^ ur*- Ch.rtcrcdAccountahts
aodit Enq.!€h€nt Parin.r: shaikhAhmed satman
- D.i€:26 Februa.y2013
ALBARAKA BANK (PAXISTAIT) LIMITEDST^TEMENT OF FINANCIAI FOSITION
^S AT 31 DECE BER2OIT
o4b.o-d eq.aipr. o-rfssFi
.ilu*\'4
ALBAMIG B^I{X (PAK| .'AX) I.IMITED
FOR THE YEAR EI{DED 3I DEGEMSER2OlT
Fd r rclum eamed on sramic tina
w.)A
1r.o77,r21\ __cJ.9tL1E
Reve6al or Povrslo^ ag.inst non'P
lLossYsain on sal€ or $curr 3s
[--]'6i.:l[*-.jr 17.773 s s14
1!!91!!L ll!!l?zl
f rr,o,lt it-sq| {111.042) (r rr0rl
'- f (qrrr,oat !3r,4-3sil2a 137,02.1 (37 47612s (24.31r1L 1!!41
,r040.36' o 502 r51)
FORTHEYEAR EI{DED 3' DECEMAER 2OI7
Acluada (oss)/sa,n oi edeasured
compreh€Niw lGs rcnsleredro equiq
con6notl6flecledinequity
(Defict)/surp us oi reva uaiion otaklns assels . n6t ot br
robr comprchercive 0oss) / Incone
(33s,43) 1156.527)
' sud6 / (derct)m re€Fb
06 0r 2014 0n 26 June 2014
AI.BARAXA BANK {PT(ISf^N) LIMIiED
FOR IHE YEAR ENOED 3I DE
adju.rmonr. r.rnon-ash and orher rems:
Reve6aLagainsl non perrom nq lsamclinancing and rcLaled assels
Orher provis ons / wdre offs
(lncrea3e) / decca$ in oFrarins asseb
(53r,073) 1100.743)
--------llgll!9l eor8'z)(s75 s42) 1120,030)
lo€crease) / increase in opebrin! riabirirr6s
(a
Nd cash (used n)/ now fion oeerarinq sctivities
CASH FLOWS FROM INVESTING ACTIVITIES
.B!rj Bank LimbdNel invesrm6nis n op6Eiing fibd assec
Proceeds rrcm disposa or operaiing fxed assers
cAsH Flows FRoM F|N,dc|NG AcT|v]T|Es
N.rcash now rom / Gsed h)rinan.h! acrivirie3
Net{decrease)/ Inccase in cashcash and cash equiva enis al baginn ns orrhe
'€ar
(53,939) i664331
W) 't/4
ALAAUE BANX (PAXISTAN} LIMI'iEO
sharcs ssu6d dudng he year
e5701 (767,re0)'5e.343
EEEEf.erit"',xifl(612,766) 15e.340
er $cton 2i(1)(3)ofrhe 3a^kis
Mht4
f lEEf:lt"rilt-m
m5 1Xr3r.64 -
ALBARAIG BANK (PAKISTAN) LIIIIIIED
1. LEGAT STATUS ANO NATURE OF BUSINESS
3mh* (31 Decmbs 2016 :2r4 br:nches i.rudno 14 slb branchesl nPaksran The Bank has mersed 3
AiBaraka Bank lPaksbn) Lmred ( re Baik) was n.olporcled in Pak
rhe man obFdve or ihe Bank@nfomiiy wlh shaiah rh€ Banr was sranied an slamc Banknq Lcense 8Lo0r(07) ssued by re
(sBP) on 13 January 2007nl of blsiness as a schedued bank,rlh
hes or aBaraka sramcBankBsc (ctwlhc6Ne no B()01p011)was $u
2016 have approv€d the mgrcer or the Bank wi'h 84 Bank Lmiled und€r a'scrreme orAmarqamalon lrheSclreme) Fudher. Sbre Bank or Paksran,llrroush (s eller no BPRD (R&P 02112016/24373 daled l4 Oclober
ne or amalgamaron an'r granled sBurjBank Lmired wrh and nro1h3Bui Bank L frled sraids anasan
G) {m:rd spomoii iorpo€ed and domr&d n
Rarns Asency Lrnied (PACRAJ haand has upsraded lhe ouirook ro posir v6
Asar 3l Decenbe.20iT,rheMnm aro(cARtsloodalRs10€bron3nd
A'NSIS O' PRESENTATION
clons (whch are acounred ror !shndrd 1).lhe pudA6 and ssbtemenrs as such bur are rcslic
recan4daschartypay.b]e
|"''"".oqsrandards (FRst
'ssued by rh€ rdremarona Accountina sranda.ds aoad and s3m c Financa A.dountins
srandards (FAss) issued b)] re I ,o3. .,4 Br, ns Corp.rs.dir€clives ssued bylhe sEcP andordnance 19s4 rhe Bankn9 cossled by the sEcP 3nd the sBcompanies odnance.1934 and rheaankns conpanes ordinande 1962. FAsnolfied byihesrcFaid$e
e sBP have b.6i fo owed
3'2ThesBPvdeBsDc'cdarLeiielNo.10dated26Augusi20Accounins Sraidard R€@snton and Measuremenr'(rAs 3el and ntematonaAccounrnq siandard 40, 'nveslmenr Popgrty (As 40) ro. banknq
nol been nade aPP cablerofbank
AASIS OF IU€ASUREMENT
'nvesrmenb, non bank'ng assets a
ompanies Ad. 2017 ('he Ad)(sEcP) vd€ rs circu ar
the companes whoso linanc.r y
shaes sssed(.430,442,760shares@of Rs10234ch)
AIBAR^KA BAI{K (PAKSTAN) LIMITEO
Clmpanles ordinan.e. 1934
n whch ihe Eaik opeEres
BUSINESS COM BINATION . RES€
of Bad wh ExBft Bank rimred (BBL) lnder a scheme ofeh s eler n. 8PRD lR&P 02)/20
l FRs 3) tFRs 3 a ows rhe.courer a
h udion of asds acqu red (fcudrs nbisbeass6c) and riabiriies assumod haconsulant aid consequenlry. corc denrrried as caffyng anprov eonar qoodw
ALBARAXA BANK IP^I(IST^NI IIMITED
'ab e assers (inc udrs intano b e a$ers) and ab iesofrhe Ex 84 Bank Lfrre.ra
rhe dara ot acou s lon arc as fo om:
Cash 3nd babnces wth lraasury banks
Due to tinaica nsitulons
NE' ASSETS ACO{I IRED
s.4 Intanglb e rccosniued on a.quisition
?0,':00
arjon of a$eb acquned I ncrudins niansib€6sds)andrabies6sredthe nransibeasserasai3.roctober2
bank specrc and rcpresenls lhe vatue ars i9
s ner cosr savnqs ( e. rhe p63^r va ue ofre net cosr sav'ngs) ove/ an e@
assumpton, rhs nlang bre assei h
assels rcsr on the Pren,se tha{ rh
(cosr sav ns merhodl which was cvaru€ oi ih€ opeElrig ash trows gene'ared by the n€l cosi savnqs
the vallaion s based oi inromaryin]rasumploNm
roc.uras proieded
Thd sg^fcanr accountnq po ces
Th€ Aank has adopred the to owig ahendmenrs b accounirns slab@me efieclive ror lhe cureii y€
rAsTFinanciallnsirumeils:DLsclo$res.oisc6reln'iarve (Amendmenl)
s for un€arized osses (anendmenc)
ndards l5su6d by lhe rASB in seprember20l4
ed lor by appying ihe acquslion melhod lhe @sl ofacqusiion is neasue.i
consdeEronarcns€ment, f any. acqu's tron{€lal6d cosis are expensed as ncwed. rdeni,riabe assets acqu €d
acqured rs rccolded as soodw
5.3 C.6h and c$h .quival€ntE
Cash and cash eqllvalenb compr
nba mualja ranedoN 'he
Banai the I me or sale and such proceeds arc rece ved al lhe end or cr€dii per od
nanc. sch6do (tERsl
nk underihe s!de nes ssued byt
(a) Held rorhdins
has rrr€ pos lrve inrent and ab ty ro hord rjn maurtyand i\ed narur9 in rcspecr ofwnih $e Bank
edlomalurlycategones
€cognised lo €lred recove€be amounl
c ol lhe saP quoted securtes a
ihose classl3d as held io maiuriY
unquored equrysecurtes are v. kupvau€ Break.up !.u-a ol equly
ALBARAAA BANK tPAI(ISTAN) LIMITEO
6.5.2 Resular r.y conlr.cts
6,5.3 Initial recosnillon and measuremenr
assocaled wlh lhe cassred .s hed fo. tadinq are nlia y
€69nised ailarva ue and lGnsa
nciudetl n lhe nerporilandloss for lft year
o mdiry (erceptsukuk cediricates)
e PtudenrarReguairons srued by
6,5.6 CosiorequilyinveslmenG rs deremiied on w€rghred averao€ bas s.
isbursed ror p0rdrase of qoo'rs aftinance On culm narion or muGbaha e sare or goo'rs io cuslomedefered sare ffce net of defeiied p6rit Geds purchased bul rcma
{PAKI5TANI LIMITED
n lacrmmns,lhe Ba* prcv des {hs asseis cn p3ior c rerh s tor s
ri lFralr rnancinq, lhe Bank Purch
aGka based oi shnkaturMulN forfnanci9(exampe: house aid prant, machhery tr vehcE wi'h i
In the sedice riaGh 6nancins. rhe Bank provrdds tnaicng by accuslomer Afier re purchase of se
n€Sp€clcgoodslolhebU,!/alafutuledale aqa nsi an atjvance pr ce ru ly paid oi spot
RLn.igm0sh26ra seshtk, aii 5ar,.d '.ai.ir9 r..r'iy ofieretl
in op€rali^g aciiv( €s oI the custom
s Gd€rce. inrenbrs 6tc.)are sncms, rany whdh a€ dha€ed to 1
rmned n accordance wrh rhe Prud€daR69uaions and oih€, dnecives ssued bythe SEP. Th€ Aank manlans senerareere (prcvsionl. unessspecficer€mpronsdarlabetomsBPtefarnol6ll.52)naccordancewlhthoappGblerequnemsnrsof
aBd ded un enterp.ise fnancns
laBh finmc ns booked oi o,3ft'sse6 esed olr u^der taarr ffi depEcded ov'
'he brn of la€h a ncome J rcegnised
rlaEhr@rcins booked betm 0r J rinance rease wher6by assers md€r ja€hinvesrfleir in ta€rr
overihelerm ofirre 'ja.ah
so a31o p ner N*rfr€d n ijaEh
lsamciinancngand€aledasseba,errnenorlwhenrhse'snoreasicprospectolrccolery
ALBARAXA BANK IPAXISTANI IIIVIIED
Deprec alion s charsed lsinolha siGqhl-rin€ n€ihod n [email protected] w
d and adju$ed r aporoo ate al e
eis are cred t€d / charued 1o lhe p
Subsequeni.osrs are nc uded '.
rlie asseb carryno amouni and rc@qn sed as a seDaEle ass€t as approprate,
r€pars and ma'n16dance a6 charu
6.7 Op€ratins Fixed Assels
mpatmenr osses (f any) Land is slaled ai co6l
CapLlarwoft,n prosress
ne meihod, whereby lr'e cosl or the nraigrr€ asset is amodised o
if aporop.iare. ar eaclr sraremenr ol rnancia losron dareAnorlizalion rcles are 3pecl€d in n
or at lhe cash-generaing unii reveppoftbte f nor, the chanse
'n us€tur refromindefinrerornle smad_aon a
- d epreciar on. Th 6s6 asseG aG revaLu€d by prdre$ion a y qu alfied valueB wilh s ufcie.l reou a. t ro en sure that
ihe. nel €ryins %lu6 do* nol dmer materia y from ih6 r fat va ue a surp us aisinq on reva ualon oi propedv s
crdlldd io the sualus on revaluation of essels accDunt and any del
- and loss ac@unt dne.iy. Lacalr..s l.ansfercosranddiredicostoaacqunsfileroprop€dvischa€edloprcfi
ALBARAKA BANX IPAXISTAN} LIIIIITED
feGnce io rhe va !e ass sned to scharse for llre year/p6r od s takenlo
i or chan96s n gquilylorc6d rearisaton
olslB|Usiolh.exlenlo|lheincre
e Oard and Muda€ba. D.Posi6 r
- dlassred as Curenl Acand Fx€li 0eoosil racouils
@uiiyrorrhe puroos€ of prorit calcurarion antr on y any profil6:rned / oss incured on lh€se runds ar€ allo€red to
lh6equiiyof theBa^k Prorls€alizedinpoorarcdlslrbuled dp€-aq€edpoitsha.ingrailoos tors ac6rd ng to we'g hiag es assis ned ar rh€ ncepr on of pbfii calcu ralion p6r od
Mu,raib (rhe Bank)can d slribute I
- AsuboJnnaGdloan is i
- Proft on murabaha rhnsadons is rc69nsed on accua bass. Prcrt on MuEbaha lErsacions for the
- Rentalinmme on larah rna^cing booked on or afierJanuary 1,2009 s recognised on acc.ualbass- Prori on diminishns musha mudaraba and seryce tarari ard rucosnized on
Prdft o. r!a6h and Lstsna s rc@q
dl accedancesand 6ll.rs orguaranlee s recogn/sod on €depl bas s
' Dlvidend ncome s r6cognL6d wh6f, lhe Banks rightlo rec€iv. th€
uk s r€cognBed on acctuar basis Parebelnsamonzedlhrough9rofla^drossaccounr06rlhe€hainngmatu y.
asseis. la6h a*els and mosham
Reariario^ of profir edier suspe eniiar Resuratbns ssued by sBP iscrcd led io mor t and loss a@ouni on rc@iol basis
s 'ecosnised
drecl Y in
ALSARAKA EANK IPAI(ISTAN) LIMITED
The charce ror cM€f,r taxai on is bme underseciion 113 0f ncone T
: haFf iefrpo€,y ditfe,enc* be'ween 'heamounrs atl buled !o assers and
pply to 1116 o6rod whe. ihe d ffere
only b $e €xi6^l lhat I Ls Probabl
rhe €rtnq amouni of d3r€(6d uonwr Probabe ihal suflicie laia
The aank also re.ognises a dereradjuded asa B1 {h6 re ated su,p !slandad(lAS) 12, ncoh€raxes
6.13 Siaff Relichenl sonotlts
Th3 Baik opeGles runded sraiu iyBankftom Ex.Bui Banr L,mlred The benerts untrer rhe srabiry scrr
n ump sum rhe benelii s equ. lo one months rast drawi basc sa ary for
ibl oefinod conlrrbution Pran
ised conirbutory p,ovdenl futrd for a pemanent enp oyees Equa monthrycontiburiois a6 nad6 baih by rho Bank and rhe emproyoes ro th6 fun
6.14 Provi3ions, ConrinqenrAssets And conrinqenr Li.biliriesPrcvsons arc r6co9n6ed wheo the Bank has a p€$nl €9a or cons
ob garon aid a re abre es(nare ot rhe afraunr of the obr€ar0n da6 bsratem€nt of fi naicia porlion dal6
Conl'nsenl lab les are noi rcco he orcbabiriv or an oulfiow cr rosourcss
crarms and orher orf .Baranc. shs€t ob oations
Ihe Bank. D lhe od nary @u6eperiormance bonds elc. The commsson aga nsr srch donta* is recosnzed
'n the prcrt6nd oss accounl under
1ee, commissioi and brckeGge n.lda6nsmde?1h@nt:.G
(PAKISlAN) LIMITED
conmilhenG ror otrbranding loNad roreqn exchang6 conlEcis are
denomnated in roreisn curcnc€s the erchange raies ru ngonlhe repodns
Fin2ncarsssers and linanca ljabi m6 when the Bank becones a padvto the
.onlEcrua Drovsons of the instument lh€se nclude.esular My p
rcqurcsdeveryofasetswirhnrhethefiamegenerayesrebllshedbyregualotrorconve.tion.thema*er
whenob qaton soec ted in rhe corecoqn zed n theprofland loss acc
be'e s a legalry enforceabb rghliielheabi'tysimubns!S]y
ine Bani pres€i$ basc and d uied eaminqs wr share lEPs) 3ner sharc s ca culared by dvd ng
shaehordere of lhe Bank by lhe weighled avemqe numteroford nary shares oulsla^ding duin0lh€ year DiruledEPSrlosspersharesdeteminedbyadrudnqlheprorilor ossaftb
A sdgme s a distnsu shab3 @(b6in*s fsned). tr n prNd ne ur emnomc €ivrcnmed (qeosraphi.alsesfrenl).whch ssublecrlorsksaid€wardsrhalaGdfie.enrromr
(3) B$h.sss€snenb
6 16 Forelgn curencyTran.aclions
Foreisn cuiieicy lransactons are exchaige raies prevarns on rhe date of
rates p€vaiins ai the repod i9 dar
nlo the ro owing dlassiricarions or business
tincudesrred ncome equ ly forcqn erchanqes commodl€s.crcJil.tundDq own posilion securles. endi9and brok6ra9e debi and prme brokerase
ce, rad€ rnance, iaclorno reasin9, eidisquacniees blls or exclrangs and deposiis
. Payn€nl and s.rlr€ment
ALB^RAXA BANK {PAKISTANJ LIMITED
{b) Geoq6phicars6sdenis
cwemy,rheop€rationsof iheBankare€dedoul npaksd, ouy
IM profl ofeach ljeposii ooolis ca ser byuririzna rtr€ runds iiom rhe oooia,ldr
s p.ssed on to rhe poor rh6prcfirsed on ihe weqhragss announced b
The deposrs af,d funds und6r lrre aeconomy / busness as menroned n rhe nore 41 I I and are arso iivesred n Govgmhenr of paksran backed
rom slale Bank Df pakisun lnder rsamcwads lhe expod sedor of rhe e.onomy
nenls n donform9 wrh approverl a so requnes he nanagemenr rD exer.se rs
3 1t-: .:i(3 :c:.1n1,49 p.tces The esrmares i ludgmenb and assocrated
racloG n.rudinq expeelons of lu
und€rlhe gaisardeposls p.o, rh€ Baik eccepis fuids on MudaEba !\asis rom depos rors lRab ul[raar) wheethe Bank acrs * Mamstr (Mudrb) aid nvesG rhe runds n rh€ shararr comp samodes; skm c fln:nc,io;
spgcrd pools are op6€ted ror I Skle Bank or p6ksbn ror sanc Expod
rhe edmares r judsmenis lnd a
keyarcas oi esr maies andjudsem
a) Provision aqahsl hon-pe.romins lslamic tinancln!
ncrudins rhe pasd!es, deinquend
93ind consumer and sman and Me evant PrudenlrarRegltarons and sBP d r€ciives
b) |mpaimenl orav.irabre t..
oneed €q!i6 iudeemen. n addron.
ln mak ng th€ elimares ror curcn
d) opsEting flxed assets, d.precration and amodizatlon
rn mak ns esl males ol th€ dep€c'aion / anodsaron merhod. rhe manaqedenr uses melfrod whch refi4rsthe palte.n in whch econom,c benefls a€ erpecled ro beconsumed
be chansed io refled rhe ch.nq6 n
6) Emprovees benert erans
The|iab[lesiorenpo,€es
se pam $ch 6lmds re subFcl io sonfcad
ALBARAXA BANX IPAKISTAN) LIMIIED
6.23 standards, .ie.pr€rations
The iorrow ng standards. a6endntrectve from rho dai6s
'nenroned bdw asa nsr iha rcspedve sbndad or
Efrecrive dat' (.nnuar peiodsb€grnn nq on dl :nen
or share based PaFenb rransadons {amendmenlsl
remenrs aid rAS 23 nveslmenr
b orJod vedue (anendmenr)
|FRSg F nancia Instumenc, C as
esalive compensar on (Amendnenls)
|FRS a nsuGnce Contacts: App/y ns FRS I Financalrid4menc wrb FRs4 nsurance conr.cts - (Aneddnenrsl
rasB E fedrvs d4e {a.nraL per odsbesinnin! on or afte4
menls arc nol elpected lo rrave a{aremenb i rh6 perod or niria app carion excepr FRs s wrh €sads lo rFRs I
ASB n D4enb€r 2016. Such dp
Frdhdr fo owig n€, sra^dards h AsB which a.6 yrt ro be noiried b
FRIC 23 Unceda niy DVer Income lax rr4imenls
FRS r4 RoquLatory Oef8tra Accounc
hHqed ffH,
r6drl5 . llAsE
a ;;;,:r
]!i19ffi -3,!!er
ALBABU B^Nk (PAkrsr^x' LrdrrEo
tv
Govehnani oi Paksbi jaE sukuk
Ar Razi Feaftcar€lPry8b) Lh 'ed
se.U.lyLeasngcoqo€lionLmbdOueb Teira Mi s L mbd
kp n Pharma (P, varsJ L m r3d
tull cammlcompsiy Lmcd
*357-
l!,61!fq
10 4,2 Aua ity of hrrd foi nadino $curiri.'
0 a.Khai c6'r0il conprny Ltn lsd
es or arEaraka rsLan cBank 3 s c (c) kh:nd
1,,1?.
----.{RupeeE 000) -.- -
oerered muGbaha incohg
(e,603,633) (13311.r62)
1.377.640
Th46 rcpresenls the la€h tinancins mnr€ds entered up to D€€frberfiiance €as6 wher€ by assec unds FBh aq@mmb a€ presonted * a
Presed k ue of mnimum jarah
11.3 PaniculaE orlslamic financing.nd raratod a.e.ls
11.3.2 shodrem {ror uPlo one }€anLcng lem (tor over on,a y€ar)
Caresory or classirication6
11.4 lsamc,inancins and relared asds nclude Rs 7 6s1332 F1 D€embs 1016 Rs 7,146.027)m lon wh crr havebeen Praced uider non Perform nq
Otber asseb espec ally mef,rioned
Car€gory or cla*i6calionsCrassif led lsrahic rinancins
orher assets esp* arry meniioned
[email protected]!e(Fstlof6raie'aramoldisioRs25e74o3(3rDecember20i6,Rs22526e)mioirhe
seru€ (prcvsons) n addan€ wirh
o iiaice subjeci ro rhe brbwitrs cond( ons
rhe Bmk sha casetirsaulotu:ic
273307 (3i December 2016 R, 297s3r) n ioi
11.5.r n tems otsubsedoi (3) ors
o, any ol tum sither 3ave4 ry or joini y
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(is6) 1371(rru&)l (ra6,s)l
ifafca prcjedons or the Baok ror eoaid The polocrions in6ve conah ksy
Rs 32 07313r kc6mbe,ror6:Rs.s37)o, rion rcspedte y(rr Deember 2016 Fs26.7) m oi rnd
ALBAME BANX (PAXISTAN) LIMITED
lnderLsamcsx@d€fiiarca schrm€ ( ERs)
s I 0'r !o 2 0e! 131 De.:ib., ror5 M.b20%lpqaDNm rh-"he s tu465 (3i oscemb€r 2016
---(Rupes:'ooo).-
Rs155) bi ion rhesbdE.dntrsds! ma'urc
shodnern lfoi qp b dne yeaa
aJ'r,.,o.l 4 r263.5,4| 33.2361 1 222 314)
Tr_jz65a f rJ-r6tr 500 000 L
sseveiyeare!lhp.ncpalrcpa}te
setudry depos r aqa ni i6rah
nsuaid paFbrs asa nn tarah 3id d
ALBAMU BAxx (FAxrsraNl LrMrrED
___3J!i,!!L
Effi
21 SIJRPLUS / {OEFIC'D ON R
su.p s / tdeic i) oi rBva uarioi ot i!
Govemmenr of Pak sran ,a.ah sukuk
Aaa€ka rsam c eank (sahraii) B s c k)
Mara Kha *j Nsimmrr.L.c
_,- 11LJ3!t217,3e5j
__Jl1t4
___!.9!?.!?t ____:-9:!!tq
_ t 99lJ9l1l!?a
aLBARAXTA e{x (PAKrstAN) udFEo22.5 olh.r Continsenci€s
22,5.1 lhe Bank has r*e ved varous assessnent oilsE frcm Depuq Commissidner Intand Revenu€ (oc R)slarn9rhar ihe Baik has shorr pad Fed€€tExcise Duv (FED) on speciic rcome ot rhe Ba.k foruie;€a6i00s;20,, drorll9 ro R6 36 5 T on ar cs j4 ) : n, o, 1 .esp*r or ,"", 2or2 F relporse;,Fp Bafr 6appa Appelate rrbure ntand Reveiu€ (ATR)h4 ser aside ine ordere rctarng lo yoaB2009lo 2011icr
rer is pendine decision for rudh* prcreed nes. F;ry;rroz comn ss onerrnand Rerero€ (c R) app€ h€s dropped g6 p@eedtnss amouirins to Rs s ael mitbn Acoiliae y, rhe B3nkhasred rhe appea berore AT R aga nst rhe order ot c R Appea amou
22.5.2lhe B3nk has fied appeas20036ndtaXyea.s2004lo20]1MoleoverthencomeTaxDepanagam$he orde6 in resped oras 2002,2003 and ta yea 2004 ro 2ori issued bycrR Appeas appeas rired by lhe aank and rheman.genenlofrhe Bank is confident thar the appeas are rikery t be d(ded n favor or $e ltaik and. hen€ noprovision has b€ei made nures€fnancia slalemenis for rhe incom€ lax crams amounrnq to Rs.l16512131Decembef 20l6 Rs 1r6 512) m io^
n €speot of ss$nsb or d - Burt Bank Lmiien (ntu ABaraka Bank {pakisian) LmEd) the taxalionaurronres have €ised ? demaid or Rs 1 9 nLrLon on accounl or m nimun bx n respedr or taxyea.2011 whchhas been cha rensed by rhe maiasemenl and is curenlry pendrns befo€ rbeAT|R
PROFIT/ RETURN EARNEO ON ISLAMIC FINANCINC ANORELATED ASSETS, INVESTMENIS AND PLACEMENTS
Oi sram crnancing and retared asseh
. .4v?r"be i.r-s?!. 5-r.res- Herd ro matunvsecuilres
On duerrom tnancrar dsrrutois
RETURN ON DEPOSITS AND OTHER DUES EXPENSED
on axportrefinanco underlstamc schemeoiher shonGrm borwings
{LOSS)/GAIN ON SALE OF SECURITIES
(Lcs)/san on sae otsukuk dedificaresFenerar gov€ m henr su ku k ce difi.aresorhe, sukukcedifcares
{Loss) / Gain on sa e ot Ered shares t3,,t25)
AISAME B^TX (PAKISTAM LIMITED
cai 0n sareofnon banking assecR€niar rncome rrcm non-bankinq asseis
ADMINISTRATIVE EXPENSES
Takatulaid r6q sftron ot jsrah
Adveri soneni and pubricriy
o€prcciaron Non bankiig asseb
Rs.e 134(31 Decehbsr0l6rncrudns Resdeni sharah BGrd Menber
::t:,,_
ALsaiAM B^x{ (PA(rsr N) UMrrEo
Provs on againsi orber assers
Penafties mposed by ihe slale Bankof pak slan
Iemponry / on donraclual basis
BASIC AND DILUTED (LOSS) /EARNING PER SHARE
30r The charse ro.curenriar represenb
we ghred averaqe nufrbefofodnary strares
31.1 There were no convenbie /
32. CASH AND CAS'' EOUIVAIENTS
-ll!gt!q ui5527r
---...- Number of shar.s-.--.--
3 r __ l!?!I
,':1._
- 33 STAFF STRENGIH
34'llbeBankolerdsiundedgsank rrom Ex 3u4 Bank L mited. r
n mp sum lre b€neir s equa ro """
_";n." u,r 0.," u,. " "a"i,
r.,6achcomplelod,€arofsefu]@sU
- ModatrY Qies (of deah n sery ce)
Pad seflice ot / orlrer adlunmad
Actua@ (oss)/ $ i on pan asec
!.6 M.fheii In (receivabre) / pay
charce / ( mome)ror rhe y€e
ercomprehemie iome(ocD
3..7 D,fn.d bsn.rircosr/{in.om€) ror rha Far
^dj€r.d tujusGd
(2 62e) t5 e27j
t10.646)
(s:,3311
Past s€fric9 cod / orrrer adtudm€nrs
Acruarar o$ i (qah) oi prai asac
/thcone) rc.osiL.d in prdnt,id rGs and dher
f.4,14.1 ft-,ol
!.-,061 r ,t35'rlL La,e47)l t22.256)
-tq6,,'l --is,,tI 10.ffi | (3$)l
b. patd ro rhe fund inth€ n.xtrh.nciatyear
i dehned benetit obrqar'ons
AANK (PAKISTAN} LIIIIIITED
-''--- (Rupd* 000)- -'.-.
l=--?F3ol |--l,tEl126,533) (2443511
a@umuraled benerii obrigai on
34.11 Re,m easu r.m€nts Ecog n tzed in Orh€r compEh. n s tveR.{.asuBm.ne (Gain) /ross on ob srtbnDuo lochan0e in experjence adjustmo.ls
R.-m.*ufmenk: (Gain)/ ros. on p|.n sssetsact0arrciuh on pran assets
34.12 Compon6nl3 orpran assers
weighied avemgo dr rai'od of rhe doislrbuiion of rimins of benefir paymenis
3eh,e6^1}€arandsyea.s
34.14 Sensiriviryanalysis on dg
os6unr Rare r%sarary ncreases+1%sarary nc@ases,1%
w i\dEwar Ral€s -10%
t2,62el
frr-*oln! 23,e47 |
lullE
25,72633,329
102,932
a%,22A
(1?l4r l!?.MlNer deined so.ii (,.s.c) / h6r yRtre&rfled Fr( o$) oi ob QdbnRflffiu€n.d qah( o$) oi p ai 4s3r
12ro!1)- l!!!9t
l!.qql l!!.qM
re mGr emhon l}P3 or rcreneil bemFcab€ bbr9aftodhs,
rertkdadudwbdawab€d4fr
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l:i€t i]3o e.q m-,sr(..!o!o"le}
."*@ee nh ha ;nk. eold;E Fr q
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- Gdve.imenrofPa(*n jaGh suk(
ALB^RAX^ BANK (PAXISTA|{) LIMIIED
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!1 ALBARAXA saNK (paKrsraN) LrMrrED
- 40. CAPJTAL . ASSESSMENI AND ADEQUACY . BASEL SPECIFIC
40.1 capital Ad€quacy Fram.work
,s per requremeirs of sBP, the Bank s €qured to comply wilh the caprat adequacy framework
i) Ml.h!n capilal Requir€m.nt ([!cR):
MCR denn€s the m n mum pad-up captatrhal the Bank is r€quned b hod at al times As ofslarementoflinancialposlion dal€, rh€ Bank s paid up €p ralslands.r Rs 10431b tion asaSansrrhe €qured
_ MCR ofRs.10 b llon.
ii) Capilal Ad€quacy Ratlo (CAR):
Th€ c6p taradequacy Rar'o (cAR) assess€s rh6 cap rar requ rchenl bas€d on tlre isks faded by rhebanks The Eanks a.e requ rcd lo compy wirh rh€ caR as sp€.if6d by sBP on standatone as w6tas
_ m^sord3red besis
SaP issued (he nslructions on rhe complraron of CAR based on Baset tttcapita @torm as pub shed
- by BaselCommnee on Banknq Supetoson These nstructons ar6 eftedtve rrom 3l Oecemb€r2013wlhlul impem€nralionint€ndedby31oecember2019Th€seinsrrucronsatsospeclylh€transton6aiiangemenrs iiom 2013 lo 2019.
Acco.ding y the Bank has assessed and repod€d its caprar Adequacy Ratio in |r* linancalslaGmenrs on the bass.f BASEL rrr@quremenrsas prcscrbed by SBp Asof3t Oec2017 CAR or
_ the B:nk stands al r017% ( Dec 2016:10 26%)
40.2 ScopeofAppli€tions
The Base rrrframewo* rs appr.abre ro rh€ Bank on a standaone basis as the Bank d.es nor rrave aslbs diary Srandardzed Approach fras be€n used for €rcutahng rhe capir! Adequacy for cred I and
_ Markei rlsk whereas Basic ndicaio. Approach (BA) is used for Operatronat Rsk CaplaiAdequacy
- 40.3 CapitalStruclure
Bank s €0u abry cap{a has be€n ana yzed in h4ot€rei. Common equny Tier l apila (CETi) whch ncludes fu y pad up caplat, dscount o. ssuanca ofsharos, srarutory res€ruesi accumutared osses and regu alory adtuslmenrs appucab e on CET 1
- Ter 2 capila. wh dh nd udes subord naled debuinsrrumenr g€n€ra pbvsons for oan toss€s (upro anaxmum of 1 25% ol credit risk weighted assets)and reseryes on reva uar on ol nveslmenls
4-
42 ALBARAI(A BATIX IPAKISTAII) II TT€D
conftn Equr! rr.r r 6prbrlcErrl
Gad(Losat oi d.r€t€s hed as cash FreNeds.
Mim'ilydercnsaishglmmcETleo^olidar6d b.iN suue di6, * (amoui
cEr I barorc R.suratory tul$tmonGrod nsul.rory adjGtn.nb rpprbd ro cE l
&dfi.id ndI ( r r) c'praloudithg add t ona relr epra
dwhthlcassiedasequjly trtrledlolhrdpadesbyonso|datadsbsdles (amornr a Md i qrclp ar r)
r * rbje' b ph*e odArr btrn dsddory
'dJus'n.n6rod rcsubrdry adjusRd appried 'o
Arr 6piraAddr oi,r rie, 1 cprbr ,ie, rcsubro,y .djlnmdds
ris r c'prar (cErl + adnissibrd ^1)
ouarit is r e,2 €pra Nl,umenuuiddrB.sr I
r3r2 eprar h{rumds subled ro ph
panEby@|$|dded9u&dbrh3(amounr aiNd h g,o!pta,2)
or whbh: hsrrunsds 6sued by sbsidi,ies rbjed ro phase ou
Revdudbi Faseryas list ot raet
12 bebrc reeurdory adjGimen€
rr.r 2 apbr (P) :nor r4urabry .dl6rn.d3rel,ap!arc6gn2edloleplaad4uary
loru cFrrr (r1 + rdmi$ibte T2)
robr Rbk w.ishbd &3er (Rwa)
capil.r tufG id but G (n tsr6nra96 or rk w.ishbd :$sb)
Bank sFdc b!trer requ remedr (minimomefu,bi b!trel eG
'ny dher folb Gq! rcnei'
cEri ava rab e b meer buders (as a p'eiGse d r 3i E shGd a$ab)
.0.4 Rlehbry elEh.nk rnd e
R.sdlbryidi6heicGodwr lier of G d€d detured tx ad 9)a de, eos bb: (ieror,iy *ed,
oc pretub It etfud 4 hos.aosiis trm impoEry dffbrcnd (id dr rhed d ah !)
ssud $a€apla 13no!d,bdve 10%h€shoo
@isr.do lanold aboYe r@sreshod)
abos]o%sl€shod rclole,dd ab Llyl
Narona sFoic Es! ery 3dilsheM
robr rerd'rory adludmed3 .ppned b cErr
rdrr rcqdai.ry adlqstnenr3
'un6 exesd ru se pEs&d Ini lsBF
Fsled$aGepb Gmouniabover0%arcshod)
sigifBdn€sh3ds
rcnab 3rtled b ddudoi iiom addtr oia teri mpb
Adlshenc ro Add r oiaL rar r dua ro
rod rcour.roFdiushed apprisd h Arr c.pi6l
mr iqs basd apprcad (pior b app aron or
rotar E0 urdrory adiurmed 'ppried
ro
sld sh,6eph Gnoudabovs 10%h€shoid)
uddn bns iwhch drnebe rskweqhedslbt.d'o P€ saser i
ductot lbete rbx welshdns)
po6ry dfrftnc,s lnar o,
Appncab|ecaFonlhehdusiono.plovb]onshrd,
abj.d b s€odad ad appcch (er or
fi-io!@ta-@a
1!9t!! 91r
:ii--l'@ r!91!q.qr1':i..Eit. 706s-i
h3funadsE*elb|
d,hch @Md c6rehs dQearNuned I'q{Ebbl
l!9.qqq.qqt t?!.9!q,!!-! t?9i99.911__151999!Lfr_
- €-nnf fini -.-b--'!tl!d.{0 ! rreooLl r2r m'
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rs!r@t 31r 17
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Ponro[o3 3ubj.d ro hkmd Rdhs Ba3d (rRB) appc.i
Equr9posroi ra
lp!!t!l qt qlt !!L qE{?a _!:!.?1i2ta
sb iden4. ss* aid moirb dsbn1rcr rhese dsks on rimt basi3
ins non dieir d,.dudeDadydeb!r (iole4i r)cnanse 6res and 3q!it nd €s (nde 1r 3). Lqlidirydsk 3rhepd6d. o$ais4rrcmBanrs iaflnyromedisob saroNwhendueliore41 4)
- rhe Bcrd or oiEdo6 (rhe BGd) proudesrcguaymonildclheBaiksiskPrcf€
' rhE Bank has sar up obj*rives and po cies
he Boad Rhk comm tee (BRc)
be Banka€su&d by sFcri. objac
(RMo)isn'e orsantalona am Fdomins rhetundois or deiiiying. me
aseraid ab rynamgemeiromhnda(ALcol
udionoiovehsblely,'doveBiqhloflh6a$abIabitymansgemenifuidloi
gnldepadmeilhtoquanli,ylhe4kandlhsqua|ityaidiiegliyo'lhoBanfsnsr
nedbydlpo|i.tsapprcvsdbylh
The Bank has a rel deflied cred( struclre du y appbved by ihe Boad under wi ch de egaio! aurhoril es ar %r olselesaredpehlingandwhichorloarlyscrutnizeaidsaiclionc@dllheemphasssioprovdeshorriomedumlem rGde rcalod rrranc financiig and reraled assers 1o Epurabre nam quidaiins and shar*
of the Bank hasenabed (10 burd a sound po'1fo o
princp*idcredlr3khanagemedhavebeen alddown iniheBank
aied (wnere rcquned) oi pe od . bas s
E)eecied c'edi Loss lEcL) asses I thrclsh mpemeilalroi or Moody s R 5rAreryst a @dds renoMed ilena cEd( htnq sysiem lhe rdoody's RA sy3I6m lakes o consderaliof
lheco!nleFpady.tamadionst!cled by hrema Ralfe sased (RB) a
ne wilh sBP s q!id6 n6s arso prov des eslimalen Lco lLoss '3
v6i Darau r) ald obreorErns prcvdes PD {Prcbability or Dela
^Bueld{(r (r3tAN} lxnED
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rndur bin rhedoe se 8ad !* 6e edv! rarhs
FU.ry&€anolnb8he[r*mlig{
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f 66iel - 66irrt - --lttt.l| 7.500.@0 | 7.500.@0 | I I
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