Page 252 - EXIM-Bank_Annual-Report-2023

EXIM BANk MALAySIA
250 A Vision to Serve Empowering Growth Management Discussion and Analysis
ANNUAL REPORT 2023
Notes to the fiNaNcial statemeNts

47. FINANCIAL EFFECTS ArISING FroM ADoPTIoN oF MFrS 17 INSurANCE CoNTrACTS
(i) The adoption of MFRS 17 resulted in the following financial effects to the income statements and statements of
comprehensive income of the Group and Bank:
Statement of profilt or loss
Effects of
MFrS 17
2022 adoption 2022
Note rM’000 rM’000 rM’000
restated

Group and Bank
Operating revenue 25 228,126 360 228,486

Interest income 26 184,353 - 184,353
Interest expense 27 (97,017) - (97,017)

Net interest income 87,336 - 87,336
Insurance/takaful service results 28 5,729 (3,212) 2,517
Income from Islamic business 45 74,496 (1,004) 73,492
Other (losses)/income 29 (53,907) 1,506 (52,401)
Net income 113,654 (2,710) 110,944
Overhead expenses 30 (79,664) 8,222 (71,442)
Operating profit 33,990 5,512 39,502
Writeback/(Allowances) for expected credit losses
(“ECL”) on loans, advances and financing 33 5,155 - 5,155
Writeback for ECL on commitment and contingencies 34 20,426 - 20,426
Allowances for ECL on financial investments 35 (126,025) - (126,025)
Allowances for ECL on other assets 36 (23) - (23)
(Loss)/Profit before taxation (66,477) 5,512 (60,965)
Taxation 37 - - -
Net (loss)/profit for the year (66,477) 5,512 (60,965)

Basic loss per share (sen) 38 (2.45) - (2.25)