Financial statements for the 1st QTR of 2025

Total reserves increased to SDG 53.40 billion for the first quarter ended March 31, 2025, compared to SDG 43.69 billion at year-end 2024. This growth was primarily driven by a rise in the foreign investments revaluation reserve to SDG 35.47 billion and the foreign assets revaluation reserve to SDG 17.01 billion, reflecting significant valuation shifts in international holdings.
Total investments rose to SDG 43.78 billion from SDG 34.98 billion in December 2024, with the majority of value tied to "available for sale" assets in GCC and foreign markets. Key drivers include the bank's stakes in Al Salam Bank - Bahrain (SDG 18.45 billion) and Al Salam Bank - Algeria (SDG 17.44 billion), both of which saw substantial increases in their recorded SDG carrying values.
Contra accounts, representing off-balance sheet exposure, grew to SDG 66.27 billion from SDG 54.93 billion at the end of the previous year. This movement is largely due to SDG 54.47 billion in restricted investment accounts held at Elneelein Bank - Abu Dhabi and SDG 8.17 billion in letters of credit, indicating active international trade finance and restricted asset management.
The bank maintained consistent risk buffe