Investor Presentaiton
NOTES TO THE GROUP CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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SUKUK PAYABLE
NOTES TO THE GROUP CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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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).
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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
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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.
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EMIRATES NBD BANK PJSC - GROUP CONSOLIDATED FINANCIAL STATEMENTS - FOR THE YEAR ENDED 31 DECEMBER 2021
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