BUILDING PARTNERSHIPS. DRIVING GROWTH. BRIDGING GAPS. Annual Report 2019 Contents Strategic Report 02 Overview 02 04 Financial Highlights 05 Key Indicators 06 Financial Review 08 Board of Directors 11 Shari’a Board 12 Chairman’s Statement 16 Executive Management 20 Group CEO’s Statement 24 Management Review Corporate Governance 31 31 Corporate Governance Financial Statements 37 Corporate Information 37 38 Independent Auditors’ Report to the Shareholders 40 Consolidated Statement of Financial Position 41 Consolidated Statement of Profit or Loss 42 Consolidated Statement of other Comprehensive Income 43 Consolidated Statement of Changes in Equity 44 Consolidated Statement of Cash Flows 45 Notes to the Consolidated Financial Statements 76 Risk and Capital Management Disclosures Bahrain Development Bank B.S.C. (c) BDB Building, Diplomatic Area P.O. Box 20501, Manama, Kingdom of Bahrain T: (+973) 17 511111, F: (+973) 17 534005 E:
[email protected] www.bdb-bh.com View our Annual Report and other information about Bahrain Development Bank on www.bdb-bh.com His Royal Highness His Majesty King His Royal Highness Prince Khalifa bin Salman Hamad bin Isa Prince Salman bin Hamad Al Khalifa Al Khalifa Al Khalifa The Prime Minister of The King of the Kingdom The Crown Prince, the Kingdom of Bahrain of Bahrain Deputy Supreme Commander and First Deputy Prime Minister Bahrain Development Bank 02 Annual Report 2019 Overview Bahrain Development Bank (BDB) provides a variety of financial services that are tailored to meet the needs of small and medium enterprises in Bahrain. Bahrain Development Bank This strategy is in line with the commenced its operations Bank’s mission of being an active in 1992 as a specialist Bank.