BQAD.L Regulatory News (BQAD)

Consolidated Statement of Financial Position (Unaudited)

(LL million)

Assets

31/12/2009

31/12/2008

Cash and balances with Central Banks

6,206,165 

4,440,913 

Due from banks & financial institutions

7,737,613 

5,460,553 

Due from head office, sister, related banks and financial institutions

Financial assets given as collateral and reverse repurchase agreements

Derivative financial instruments

36,747 

48,442 

Financial assets held for trading (2)

835,025 

21,142 

Financial assets designated at fair value through profit & loss

324,105 

Net loans & advances to customers (1)

9,911,243 

8,982,761 

Net loans & advances to related parties

259,799 

256,876 

Debtors by acceptances

284,423 

234,396 

Available for sale financial instruments (2)

6,003,039 

3,809,668 

Financial assets classified as loans and receivables (2) (3)

7,225,213 

5,910,767 

Held to maturity financial instruments (2)

440,918 

259,918 

Investments in associates

33,996 

33,124 

Investment properties

Property & equipment

527,130 

479,888 

Intangible fixed assets

26,276 

18,937 

Non current assets held for sale

29,261 

38,534 

Deferred taxes assets

2,279 

10,852 

Other assets

154,598 

189,870 

Goodwill

218,685 

209,675 

Total Assets

39,932,410 

30,730,421 

(1) After deduction of provisions amounting to LL (million) 236,726 from loans and advances to customers as per IAS 39, of which LL (million) 65,032 representing provisions on collective assessment.

(2) Includes (a) an amount of LL (billion) 4,046 representing Local Currency Lebanese Treasury Bills 

(b) an amount of LL (billion) 2,131 representing Lebanese Eurobonds of which LL (billion)

  1,487 risk ceded to customers

(3) Includes an amount of LL (billion) 4,035 representing Local Currency Certificates of Deposits 

Consolidated Statement of Financial Position (Unaudited)

(LL million)

Liabilities 

31/12/2009

31/12/2008

Due to Central Banks

133,359 

Due to banks & financial institutions

775,059 

699,150 

Due to head office, sister, related banks and financial institutions

Financial assets taken as collateral & repurchase agreement

Derivative financial instruments

26,780 

46,588 

Financial liabilities held for trading

Financial liabilities designated at fair value through profit & loss

Customers deposits

34,382,119 

25,898,206 

Deposits from related parties

268,722 

237,030 

Debt issued & other borrowed funds

153,148 

153,148 

Engagements by acceptances

284,423 

234,396 

Current tax liabilities

43,055 

33,610 

Deferred tax liabilities

38,941 

2,479 

Other liabilities

471,816 

408,933 

Liabilities related to non-current assets held for sale

Provisions for risks & charges

24,472 

22,426 

End of service benefits

36,810 

30,644 

Subordinated loans & similar debts

Total Liabilities

36,638,704 

27,766,610 

Shareholders' Equity - Group Share

3,091,006 

2,832,672 

Capital - Common shares

421,632 

376,083 

Capital - Preferred shares

15,313 

57,750 

Issue premium - Common shares

843,902 

1,017,928 

Issue premium - Preferred shares

173,125 

281,438 

Merger premium 

36,006 

36,006 

Cash contribution to capital

72,586 

72,586 

Capital reserves 

819,200 

518,887 

Treasury shares

(74,390)

(58,091)

Retained earnings

105,255 

50,516 

Revaluation reserve of real estate

18,600 

18,600 

Reserve on revaluation of financial Instruments

228,206 

98,755 

Reserve for cash flow hedges

1,258 

Foreign currency translation reserve

8,480 

7,131 

Other reserves

3,645 

2,277 

Result of the year

419,446 

351,548 

Minority Interest

202,700 

131,139 

Profit & Loss Accounts 

Total Shareholders' Equity

3,293,706 

2,963,811 

Total Liabilities & Shareholders' Equity

39,932,410 

30,730,421 

Consolidated Off Balance Sheet (Unaudited)

(LL million)

OFF Balance Sheet 

31/12/2009

31/12/2008

Financing Commitments

- Financing commitments given to banks & financial institutions

778,181 

565,196 

- Financing commitments received from banks & financial institutions

- Engagement to customers

947,486 

589,427 

Bank guarantees :

- Guarantees given to banks & financial institutions

261,306 

253,331 

of which: credit derivatives 

- Guarantees received from banks & financial institutions

518,462 

299,274 

of which: credit derivatives 

- Guarantees given to customers

2,504,522 

1,453,659 

- Guarantees received from customers

6,807,592 

4,077,579 

Financial Notes Commitments

- Financial notes commitments to be received

of which: financial instruments sold with a buy back option

- Financial notes commitments to be delivered

of which: financial instruments purchased with a buy back option

Foreign Currencies Forwards

- Foreign currencies to receive

1,277,816 

1,222,074 

- Foreign currencies to deliver

1,269,265 

1,237,529 

Engagements on term financial instruments

36,629 

104,102 

Other commitments

Claims from legal cases

Fiduciary assets

1,493,921 

2,743,542 

Assets under management

8,991,010 

7,061,327 

Mutual funds

79,173 

7,392 

Structured financial products

Engagements unlikely to be executed

Bad debts fully provided for

359,735 

313,125 

(LL million)

Consolidated Income statement (Unaudited)

2009

2008

Interest & similar income

1,866,544 

1,729,337 

Interest & similar expenses

(1,241,832)

(1,091,656)

Net Interest Income

624,712 

637,681 

Fees & commissions income

285,024 

253,609 

Fees & commissions expenses

(43,675)

(40,865)

Net Fees & Commissions Income

241,349 

212,744 

Net trading income/loss

124,791 

67,406 

Net gain or loss on financial assets or liabilities designated at fair value through profit & loss

959 

(34,709)

Net gain or loss on financial investments

63,795 

46,871 

Other operating Income

63,270 

66,532 

Total Operating Income

1,118,876 

996,525 

Net provisions for credit losses 

(35,600)

(7,547)

Provisions for doubtful loans

(60,591)

(38,471)

Recoveries of provisions for doubtful loans

24,991 

30,924 

Provision on impairment of financial instruments 

(11,875)

(13,148)

Net Operating income

1,071,401 

975,830 

Personnel expenses

(304,430)

(299,391)

Depreciation of property & equipment

(35,416)

(31,737)

Amortization of intangible assets

(7,416)

(6,208)

Goodwill Impairment

(1,268)

Other operating expenses

(199,390)

(209,050)

Total Operating Expenses

(546,652)

(547,654)

Operating Profits

524,749 

428,176 

Share of profits of associates under equity method

1,732 

3,711 

Net gain (loss) on sale or disposal of other assets

(389)

(2,910)

Profits Before Tax

526,092 

428,977 

Income tax 

(90,499)

(70,085)

Profits After Tax from Operating Activities

435,593 

358,892 

Result of discontinued operations 

Net Profits

435,593 

358,892 

Minority Interest

16,147 

7,344 

Net Profits - Group share

419,446 

351,548 

Basic earnings per share LL

12,062 

9,764 

Diluted earnings per share LL

11,752 

9,288