Annual Report and Accounts

RNS Number:2966S
BBK (B.S.C.)
05 March 2007




BBK B.S.C.
Consolidated Balance sheet - 31 December 2006.

                                                     2006              2005
                                                     BD'000            BD '000
Assets
Cash & balances with central banks                   55,455            49,686
Treasury bills                                       39,784            23,806
Trading Investments                                  -                 10
Deposits & due from banks & other FI                 164,117           130,713
Loans & advances to customers                        938,042           795,006
Non-trading investments securities                   445,623           457,476
Investment in associated Co & joint venture          9,522             9,272
Interest receivable & other assets                   22,335            16,009
Premises & equipment                                 18,888            16,799

Total Assets                                         1,693,766         1,498,777

Liabilities and Equity
Liabilities
Deposits & due to banks & other FI                   263,758           238,242
Borrowing under repurchase agreements                16,418            102,003
Medium term deposits from banks                      235,625           94,250
Customers'current,saving &other deposits             963,884           863,400
Interest payable &other liabilities                  26,123            27,489

Total Liabilities                                    1,505,808         1,325,384

Equity
Share capital                                        64,019            56,906
Treasury stock                                       (1,357)           (1,357)
Statutory reserve                                    29,788            26,507
General reserve                                      20,000            20,000
Cumulative changes in fair values                    31,658            29,650
Foreign currency translation adjustments             146               (391)
Retained earnings                                    13,783            13,899
Proposed appropriations                              29,645            27,850
Equity attributable to the shareholders 
of the parent                                        187,682           173,064
Minority interest                                    276               329

Total Equity                                         187,958           173,393
Total Liabilities and equity                         1,693,766         1,498,777



BBK B.S.C
Consolidated income statement - Year ended 31 December 2006.

                                                     2006              2005
                                                     BD '000           BD'000

Interest income                                      105,374           74,616
Interest expense                                     63,145            38,906
Net interest income                                  42,229            35,710
Share of profit in associated Co.                    1,037             1,571
Other operating income                               21,165            18,605
                                                     64,431            55,886

Staff costs                                          15,054            13,347
Other expenses                                       9,720             8,415
Depreciation                                         1,909             2,030
Net provision for impairment on loans
         'and advances to customers                  5,280             2,449
Net (write back) for impairment on non
         'Trading investment securities             (315)             (88)
Total operating expenses                             31,648            26,153

Profit before taxation                               32,783            29,733
Taxation (write back) provision-Indian Br's         (120)              453
Kuwait National Labour Support tax                   146               0

NET PROFIT FOR THE YEAR                              32,757            29,280

Attributable to:
SHAREHOLDERS OF THE PARENT                           32,810            29,328
Loss attributable to minority interests             (53)              (48)
                                                     32,757            29,280

Basic & diluted earning per share (BD)               0.052             0.046



Murad Ali Murad            Jassem Hassan Ali Zainal           Dr.Farid Ahmed Al Mulla
Chairman                   Deputy Chairman                    General Manager Chief Executive Officer



Audited by Ernst & Young            above information available on www.bbkonline.com




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