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Investor Presentaiton

NOTES TO THE GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19 SUKUK PAYABLE NOTES TO THE GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 22 TIER I CAPITAL NOTES Balance as at 1 January New issues Repayments Other movements Balance at end of year The Group has issued a number of regulatory Tier 1 capital notes with details mentioned in the table below. The notes are perpetual, subordinated and unsecured. The Group can elect not to pay a coupon at its own discretion. Note holders will not have a right to claim the coupon and such event will not be considered an event of default. The notes carry no maturity date and have been classified as equity. 2021 AED 000 5,510,933 1,836,250 2020 AED 000 3,679,921 1,836,250 (3,672,500) (2,183) 3,672,500 (5,238) 5,510,933 Issuance Month/Year May 2021 July 2020 During the year, the Group repaid Sukuk amounting to AED 3,673 million on maturity. As at 31 December 2021, the outstanding Sukuk payable totalling AED 3,673 million (31 December 2020: AED 5,511 million) is falling due as follows: March 2019 Issued Amount USD 750 million (AED 2.75 billion) USD 750 million (AED 2.75 billion) USD 1 billion (AED 3.67 billion) Coupon Rate Fixed interest rate with a reset after six years Fixed interest rate with a reset after six years Fixed interest rate with a reset after six years During the year, the Group has exercised its option to call back Tier 1 capital notes amounting to AED 4 billion issued in 2009. 2021 2020 AED million AED million 2021 2025 3,675 23 RESERVES 1,836 1,836 2026 1,837 3,673 5,511 The profit rate paid on the above averaged 2.58% p.a in 2021 (2020: 3.27% p.a). 20 OTHER LIABILITIES Accrued interest payable Profit payable to Islamic depositors Managers' cheques Trade and other payables Staff related liabilities Provision for taxation (refer Note 33) Others 2020 AED 000 2,951,170 Legal and statutory reserves In accordance with the Bank's Articles of Association, and in compliance with Decretal Federal Law No. (14) of 2018, a minimum of 10% of profit should be transferred to a non-distributable legal and statutory reserve until such time as this reserve equals 50% of the Bank's issued capital. Since the legal and statutory reserve is equal to 50% of the Bank's issued capital, profit was not appropriated to the legal and statutory reserve during the year. Other reserve 10% of the profit is also transferable to a non-distributable regular reserve until such time as this reserve equals 10% of the Bank's issued capital. Since the regular reserve is equal to 10% of the Bank's issued capital, profit was not appropriated to the regular reserve during the year. 2021 AED 000 1,783,235 109,477 1,509,281 4,369,047 89,488 1,482,690 4,172,156 1,405,347 1,326,558 226,940 6,624,936 16,028,263 311,961 7,479,692 17,813,715 Legal and statutory reserve AED 000 3,158,299 Regular reserve AED 000 631,660 Other reserves AED 000 2,313,733 Total AED 000 6,103,692 21 ISSUED CAPITAL AND SHARE PREMIUM RESERVE Authorised, issued and fully paid: 6,316,598,253 ordinary shares of AED 1 each (2020: 6,316,598,253 ordinary shares). At the forthcoming Annual General Meeting, the Group is proposing a cash dividend of AED 0.50 per share for the year (2020: AED 0.40 per share) amounting to AED 3,158 million (2020: AED 2,527 million). At 1 January 2021 Transfer from retained earnings* At 31 December 2021 3,158,299 631,660 2,313,733 6,103,692 *Prior year comparatives are shown in the consolidated statement of changes in equity. 61 EMIRATES NBD BANK PJSC - GROUP CONSOLIDATED FINANCIAL STATEMENTS - FOR THE YEAR ENDED 31 DECEMBER 2021 62 62 بنك الإمارات دبي الوطني Emirates NBD
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