ANNUAL REPORT 2013 His Royal Highness His Majesty King Hamad His Royal Highness Prince Prince Khalifa Bin Salman Bin Isa Al-Khalifa Salman Bin Hamad Al-Khalifa The King of Bahrain Al-Khalifa The Prime Minister The Crown Prince & Deputy Supreme Commander of Bahrain Defence Force & First Deputy Prime Minister KHALEEJI COMMERCIAL BANK BSC CONTENTS Financial Highlights 3 Board of Directors 4 Shari’a Supervisory Board 5 Chairman’s Report 6 Executive Management Report 8 Corporate Governance 12 Risk Management 14 Shari’a Report 19 Auditor’s Report 20 Consolidated Financial Statments 21 Notes to the Consolidated Financial Statments 28 Risk Management Disclosures 69 Khaleeji Commercial Bank BSC Harbour Tower East Bahrain Financial Harbour P.O. Box 60002 Manama, Kingdom of Bahrain Designs Mu Telephone: +973 17 50 50 50 Facsimile: +973 17 10 00 17 Email:
[email protected] www.khcbonline.com Licensed by the Central Bank of Bahrain as a Retail Islamic Bank Design and production: KHALEEJI COMMERCIAL BANK BSC FINANCIAL HIGHLIGHTS 2013 19,696 (19,209) Total Income Net Loss (17.11) 542,242 100,011 Earnings Per Total Assets Total Equity Share (fils) 2013 2012 2011 2010 2009 Total Income 19,696 19,817 22,929 19,585 33,232 Net Profit / (Loss) (19,209) 751 518 (6,533) 3,100 Total Assets 542,242 473,159 447,515 419,216 473,604 Total Equity 100,011 119,448 118,923 118,158 126,574 Earnings Per Share (fils) (17.11) 0.67 0.46 (5.87) 3.04 Financial Highlights 3 KHALEEJI COMMERCIAL BANK BSC BOARD OF DIRECTORS From left to right: Dr.