In the meantime CBUAE's
held-to-maturity securities rose to around Dh41.65 billion in May, with other foreign assets up to Dh15.1 billion during the monitored period.
Asset growth since September 30, 2017 resulted primarily from a USD224m increase in net loans receivable and a USD119m increase in
held-to-maturity securities.
Since September 30, 2016, cash and cash equivalents decreased USD 137 million or 30.5% while available-for-sale securities decreased USD 657 million or 34.2% and
held-to-maturity securities slightly offset these with an increase of USD 229 million or 16.2%.
In June 2016, BPI sold a portion of
held-to-maturity securities to fund loan growth, reduce high cost deposits and enhance capital.
Held-to-maturity securities have risen in value during the same period from Dh101.46 billion to Dh104.33 billion, while "other foreign assets" increased from Dh5.29 billion to Dh6.36 billion.
The Bank's long-term
held-to-maturity securities portfolio, which is comprised substantially of U.S.
Syndicate Bank disclosed, As advised by the RBI, the bank has decided to recognise deferred tax liability in respect of the difference in valuation of
held-to-maturity securities between accounting income and taxable income.
Central's decision to reclassify $9.3 billion worth of
held-to-maturity securities to available-for-sale, McKechnie confirmed, with the balance representing additional loss of value experienced during the quarter.
Under SFAS 115, MBSs are classified into one of three categories: trading securities,
held-to-maturity securities, or available-for-sale securities.
Were any declines in the fair value of available-for-sale or
held-to-maturity securities deemed to be impaired?
81 says auditors ordinarily should obtain written representations from management confirming, with respect to
held-to-maturity securities, that management has the intent and the entity has the ability to hold such securities to maturity.
Excluding one-off income from sale of
held-to-maturity securities in June 2016, net income for the first semester went up by 48 percent, the bank said in a regulatory filing on Thursday.
