X hits on this document

PDF document

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

110 views

0 shares

0 downloads

0 comments

31 / 51

BANQUE SAUDI FRANSI

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

SAR’ 000

2008

2007

Accrued special commission payable – banks and other financial institutions – customers’ deposits – term loans – derivatives – others

32,942 334,388 24,597 - 50,915

36,312 284,959

352 13,564 134,059

Total accrued special commission payable

442,842

469,246

Accrued expenses and accounts payable Negative fair value of derivatives (note 11) Others

527,790 4,235,302 469,208

1,051,975 2,238,012 240,778

Total

5,675,142

4,000,011

Demand

4,789,099

2,184,654

Saving

19,584

16,012

Time

18,289,025

17,485,129

Other

337,475

470,406

Customers’ deposits include foreign currency deposits as follows:

SAR’ 000

Total

14 Other liabilities

2008

2007

23,435,183

20,156,201

15 Term loans

Apart from the syndicated term loan of USD 650 million entered in the year 2005 (repayable in 2010 ), the Bank entered into a five year term loan agreement on June 25, 2008 for Euro 100 million (repayable in 2013) for general banking purposes. Both loans have been drawn down in full. In addition, the Bank entered into another term loan agreement on September 22, 2008 for USD 525 million, which has also been drawn down in full and comprises a three year tranche(USD183 million) and a five year tranche (USD 342 million) for general banking purposes. However, the Bank has an option to repay all these loans before their maturity subject to terms and conditions of the respective agreements.

16 Share capital

The authorised, issued and fully paid share capital of the Bank consists of 562.5 million shares of SAR 10 each (2007: 562.5 million shares of SAR 10 each). The Board of Directors have recommended to the shareholders of the Bank, an increase in the Bank's share capital from SAR 5,625 million to SAR 7,232 million through the issuance of 2 bonus shares for every 7 shares held, by capitalization of general reserve. The number of shares will accordingly increase from 562.5 million shares to 723.2 million shares. The recommendation on issuance of bonus shares, are subject to approval of the Bank's shareholders in an extra ordinary shareholders meeting and the relevant authorities.

The ownership of the Bank’s share capital is as follows:

SAR’ 000

Saudi shareholders CALYON Corporate and Investment Bank

Total

68.9

3,875,000

3,875,000

31.1

1,750,000

1,750,000

%

2008

2007

100

5,625,000

5,625,000

31

Document info
Document views110
Page views110
Page last viewedSun Dec 04 15:43:03 UTC 2016
Pages51
Paragraphs3745
Words20632

Comments