Page 6 - AM210614

6 AWEMainta Dialuna, 14 Juni 2021

2020
Abbreviated Corporate Financial Statements

Independent auditor’s report

To the Management Board, Board of Supervisory Directors and the ABBREVIATED CORPORATE STATEMENT OF FINANCIAL POSITION AS AT
Shareholders of DECEMBER 31, 2020
AIB Bank N.V.
Aruba 2020 2019
(In Afl.)
Our ref.: 133189/ A-32000

Our Opinion Assets
The abbreviated corporate financial statements, which comprise the Cash and Cash Equivalents 32,675,472 27,409,754
abbreviated corporate statement of financial position as at December 31,
2020, the abbreviated corporate statement of comprehensive income for Loans - Amortized Cost 155,355,599 147,444,289
the year 2020 and notes to the abbreviated corporate financial statements, Investments 55,266,599 51,023,375
are derived from the audited corporate financial statements of AIB Bank Property and Equipment 4,443,922 4,727,147
N.V. (‘the Company’) for the year ended December 31, 2020.
Other Assets 2,286,338 5,172,999
In our opinion, the accompanying abbreviated corporate financial
statements are consistent, in all material respects, with the audited Total Assets 250,027,930 235,777,564
corporate financial statements of the Company, as described in note 1
“General information”.
Liabilities
The Abbreviated Corporate Financial Statements Borrowings 123,686,735 116,992,955
The abbreviated corporate financial statements do not contain all the
disclosures required by International Financial Reporting Standards. Other Liabilities 9,757,173 6,629,347
Reading the abbreviated corporate financial statements and the auditor’s Shareholders’ Equity 116,584,022 112,155,262
report thereon, therefore, is not a substitute for reading the audited
corporate financial statements and the auditor’s report thereon. The
audited corporate financial statements, and the abbreviated corporate Total Liabilities and Equity 250,027,930 235,777,564
financial statements do not reflect the effects of events that occurred
subsequent to the date of our report on the audited corporate financial
statements.
ABBREVIATED CORPORATE STATEMENT OF COMPREHENSIVE INCOME
The Audited Corporate Financial Statements and Our Report Thereon FOR THE YEAR 2020
We expressed an unmodified audit opinion on the audited corporate
financial statements in our report dated April 1, 2021. That report also 2020 2019
includes: (In Afl.)

• An emphasis of matter paragraph that draws attention to Note
1 of the audited corporate financial statements. Note 1 of the Net Interest Income 5,826,950 5,429,929
audited corporate financial statements includes the Management Other Income 4,641,136 7,554,637
Board’s assessment of the impact of the Coronavirus (Covid-19) Total Income 10,468,086 12,984,566
pandemic in 2020 as well of its impact of the future results, cash
flows and financial position of the Company. These matters are
addressed in Note 1 “General information” of the notes to the Operating Expenses (7,756,794) (8,141,658)
abbreviated corporate financial statements. Release/(addition) to Allowance
(193,412) 147,375
for Credit Impaired Losses
The Management Board’s Responsibility for the Abbreviated Total Operating Expenses (7,950,206) (7,994,283)
Corporate Financial Statements
The Management Board is responsible for the preparation of the
abbreviated corporate financial statements in accordance with the basis as Operating Result before
described in note 1 “General information”. Profit Tax 2,517,880 4,990,283
Result Subsidiaries 4,243,224 7,118,796
Auditor’s Responsibility
Our responsibility is to express an opinion on whether the abbreviated Operating Result before 6,761,104 12,109,079
corporate financial statements are consistent, in all material respects, with Profit Tax
the audited corporate financial statements based on our procedures, which Profit Tax (840,344) (687,721)
were conducted in accordance with International Standard on Auditing
810, Engagements to Report on Summary Financial Statements.
Comprehensive Income 5,920,760 11,421,358
Aruba, June 11, 2021
Grant Thornton Aruba

Original signed by Edsel N. Lopez