X hits on this document

PDF document

BANQUE SAUDI FRANSI CONSOLIDATED BALANCE SHEET As at December 31, 2008 and 2007 - page 30 / 51

127 views

0 shares

0 downloads

0 comments

30 / 51

BANQUE SAUDI FRANSI

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2008 and 2007 _______________________________________________________________________________________________

The net gains on the hedging instruments for fair value hedge are SAR 5 million (2007: SAR 118 million). The net gains on the hedged item attributable to the hedged risk are SAR 90 million (2007: Loss SAR 72 million). The net fair value of the derivatives is SAR 95 million (2007: SAR 46 million).

Reconciliation of movements in the other reserve of cash flow hedges:

SAR’ 000

Balance at beginning of the year Gains from changes in fair value recognised directly in equity

(Gains) losses removed from shareholders’ equity and included in net

special commission income

Balance at end of the year

74,778

32,427

535,104

20,286

2008

2007

(109,175)

22,065

500,707

74,778

For cash flow hedges, the amount shown as balance of reserves as at December 31, 2008 is expected to affect the consolidated statement of income in the coming two to three years.

Approximately 27% (2007: 53.1%) of the net positive fair values of the Bank’s derivatives are entered into with financial institutions and less than 25% (2007: 16.7%) of the net positive fair values of the derivatives are with any single counterpart group at the balance sheet date. The derivative activities are mainly carried out under Bank’s treasury banking segment.

2008

2007

677,614 7,724,388

790,219 7,332,494

8,402,002

8,122,713

12 Due to banks and other financial institutions

SAR’ 000

Current accounts Money market deposits

Total

Money market deposits include deposits against sale of securities of SAR Nil (2007: SAR 2,886 million) with agreement to repurchase the same at fixed future dates.

13

Customers’ deposits

SAR’ 000

Demand Saving Time Other

Total

28,696,224

22,523,088

328,801

304,393

60,599,419

47,759,627

3,166,837

3,420,143

2008

2007

92,791,281

74,007,251

Time deposits include deposits against sale of securities of SAR 7,968 agreement to repurchase the same at fixed future dates. Other customers’ SAR 1,139 million) related to margins held for irrevocable commitments.

million (2007: SAR 4,507 million) with deposits include SAR 733 million (2007:

Time deposits include Islamic products of SAR 15,712 million (2007: SAR 11,

530 million).

30

Document info
Document views127
Page views127
Page last viewedWed Dec 07 13:09:03 UTC 2016
Pages51
Paragraphs3745
Words20632

Comments