Sharjah Islamic Bank : Financial Report Q3 2021/ published on ADX at 16.10.2021

SHARJAH ISLAMIC BANK PJSC

CONDENSED CONSOLIDATED

INTERIM FINANCIAL STATEMENTS

30 September 2021

Review report on condensed consolidated interim financial statements to the board of directors of Sharjah Islamic Bank PJSC

Introduction

We have reviewed the accompanying condensed consolidated interim statement of financial position of Sharjah Islamic Bank PJSC (the "Bank") and its subsidiaries (the "Group") as at 30 September 2021 and the related condensed consolidated interim statements of profit or loss and comprehensive income for the three month and nine month periods then ended, and condensed consolidated interim statements of cash flows and changes in equity for the nine month period then ended and other explanatory notes. Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Accounting Standard 34 - Interim Financial Reporting ("IAS 34"). Our responsibility is to express a conclusion on these condensed c onsolidated interim financial statements based on our review.

Scope of our review

We conducted our review in accordance with the International Standards on Review Engagements 2410 "'Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with IAS 34.

PricewaterhouseCoopers

16 October 2021

Douglas O'Mahony

Registered Auditor Number 834

Place: Dubai, United Arab Emirates

PricewaterhouseCoopers (Dubai Branch), License no. 102451

Emaar Square, Building 5, P O Box 11987, Dubai - United Arab Emirates

T: [phone], F: [phone], www.pwc.com/me

Mohamed ElBorno, Jacques Fakhoury, Douglas O'Mahony, Murad Alnsour and Rami Sarhan are registered as practising auditors

with the UAE Ministry of Economy

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SHARJAH ISLAMIC BANK PJSC

CONDENSED CONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTH PERIOD ENDED 30 September 2021

(Currency: Thousands of U.A.E. Dirhams)

		Three month period		Nine month period ended
		ended 30 September		30 September
		2021	2020	2021	2020
		Un-		Un-		Un-		Un-
		audited		audited		audited		audited
Income from investment in Islamic financing and sukuks	414,109	427,249	1,250,066	1,281,368
Distribution to depositors and sukuk holders	(139,858)	(191,460)	(437,797)	(583,012)
Net income from financing and investment products
274,251	235,789	812,269	698,356
Investment, fees, commission and other income (note 15)	97,474	70,858	246,513	209,581
Total operating income
371,725	306,647	1,058,782	907,937
General and administration expenses	(136,147)	(134,185)	(405,919)	(403,175)
Net operating income before impairment provision
235,578	172,462	652,863	504,762
Impairment on financial assets - net of recoveries	(67,045)	(70,282)	(194,840)	(151,380)
Profit for the period
168,533	102,180	458,023	353,382
(Attributable to the shareholders of the Bank)
Basic and diluted earnings per share (U.A.E. Dirhams)		0.06		0.03		0.15		0.11

The accompanying notes from pages 9 to 32 form an integral part of these condensed consolidated interim financial statements.

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