KENANGA INVESTMENT BANK BERHAD INTEGRATED ANNUAL REPORT 2024 WE ARE KENANGA OUR SUSTAINABILITY APPROACH LEADERSHIP STATEMENT HOW WE ARE GOVERNED SHAREHOLDERS’ INFORMATION NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 FINANCIAL STATEMENTS ADDITIONAL INFORMATION OUR VALUE CREATION APPROACH 341 340 53. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (b) Statements of profit or loss and other comprehensive income For the financial year ended 31 December 2024 Note Group and Bank 2024 RM’000 2023 RM’000 Income derived from investment of depositors’ funds (m) 37,194 33,732 Income derived from investment of shareholders’ funds (n) 9,174 6,200 Credit loss expense (111) (91) Total attributable income 46,257 39,841 Profit distributed to depositors (o) (17,160) (18,712) Net Income 29,097 21,129 Finance cost (1,510) (581) Personnel expenses (p)(i) (768) (837) Other overhead expenses (p)(ii) (2,896) (3,141) Profit before taxation and zakat 23,923 16,570 Taxation and zakat (6,390) (4,439) Profit for the financial year 17,533 12,131 Other comprehensive income/(loss) Items that will be reclassified subsequently to profit or loss: Fair value (loss)/gain on debt instruments at FVOCI (880) 1,994 Income tax relating to fair value (loss)/ gain on debt instruments at FVOCI 227 (510) Total other comprehensive income for the financial year, net of tax 16,880 13,615 For consolidation with the conventional banking operations, income from Islamic Banking Window as shown on the face of the statements of profit or loss of the Group and of the Bank comprise of the following items: Group and Bank 2024 RM’000 2023 RM’000 Income derived from investment of depositors’ funds 37,194 33,732 Income derived from investment of shareholders’ funds 9,174 6,200 Total income before impairment allowances and overhead expenses 46,368 39,932 Profit distributed to depositors (17,160) (18,712) Finance cost (1,510) (581) Income from Islamic Banking Window operations reported in the statements of profit or loss 27,698 20,639 53. OPERATIONS OF ISLAMIC BANKING (CONT’D.) (c) Statements of cash flows For the financial year ended 31 December 2024 Group and Bank 2024 RM’000 2023 RM’000 Cash flows from operating activities Profit before taxation and zakat 23,923 16,570 Adjustments for: Depreciation of plant and equipment (Note 53(p)(ii)) 6 3 Amortisation of intangible assets (Note 53(p)(ii)) - 1 Credit loss expense 111 91 Realised (gain)/loss from sale of financial assets at FVTPL (Note 53(m)) (54) 182 Realised (gain)/loss from sale of financial investments at FVOCI (Note 53(m)) (940) 1 Operating profit before working capital changes 23,046 16,848 Changes in operating assets: Financing and advances 16,378 (42,125) Balances due from clients and brokers 619 (532) Other assets (612) (3,978) Changes in operating liabilities: Deposits from customers 3,587 (131,325) Deposits and placements of banks and other financial institutions - 10,000 Balances due to clients and brokers (1,647) 883 Other liabilities (13,778) 241,487 Cash generated from operating activities 27,593 91,258 Zakat paid (427) (291) Net cash generated from operating activities 27,166 90,967 Cash flows from investing activities Purchase of property, plant and equipment (8) - Net sales/(purchase) of securities 79,919 (187,056) Net cash generated from/(used in) investing activities 79,911 (187,056) Net change in cash and cash equivalents 107,077 (96,089) Cash and cash equivalents at beginning of the financial year 342,387 438,476 Cash and cash equivalents at end of the financial year 449,464 342,387
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