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BANQUE SAUDI FRANSI CONSOLIDATED BALANCE SHEET As at December 31, 2008 and 2007 - page 38 / 51

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38 / 51

Total assets

15,537,809

70,738,897

39,301,714

286,341

125,864,761

Total liabilities

42,392,826

49,714,393

19,674,758

13,648

111,795,625

Total operating income

1,450,168

1,497,177

1,203,430

240,866

4,391,641

Total operating expenses

832,933

145,257

138,052

73,906

1,190,148

Provision for impairment of investments, net

-

-

410,000

-

410,000

Share in earnings of associates, net

-

-

12,443

-

12,443

Net income

617,235

1,351,920

667,821

166,960

2,803,936

BANQUE SAUDI FRANSI

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

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

2008

109,890

99,808,110

18,189

88,567,475

479,774

3,694,465

The Bank’s total assets and liabilities as at December 31, 2008 and 2007, its total operating income and expenses, share in earnings of associates and its net income attributable to equity holders of the Bank for the years then ended by business segments, are as follows:

  • -

    94,265

Total assets

12,144,566

Total liabilities

40,715,474

Total operating income

1,196,319

Provision for impairment of investments, net

-

Total operating expenses

704,219

Share in earnings of associates, net

-

Net income

492,100

Impairment charges for credit losses, net

103,333

(48,100)

4,000

51,928,414 33,983,140 1,194,152 - 75,185 - 1,118,967 (61,322)

35,625,240 13,850,672 824,220 - 124,153 6,691 706,758 -

-

-

86,489

990,046

-

6,691

393,285

2,711,110

-

42,011

SAR’ 000

Total

Impairment charges for credit losses, net

2007

138,365

Retail

Corporate

Treasury

banking

banking

banking

banking

and

Investment

brokerage

Retail banking

Corporate banking

Treasury banking

Total

15,263,177 1,251,822 43,771

69,681,306 22,078,040 1,166,170

33,514,169 - 5,347,403

118,458,652 23,329,862 6,557,344

11,684,178 934,253 49,802

51,472,301 22,915,091 195,848

32,097,690 - 4,844,931

95,254,169 23,849,344 5,090,581

31 Credit risk

Credit exposure comprises the carrying value of consolidated balance sheet assets, excluding cash, property and equipment and other assets. The credit equivalent value of commitments, contingencies and derivatives are included in credit exposure.

Balance sheet assets Commitments and contingencies Derivatives

2007

Balance sheet assets Commitments and contingencies Derivatives

2008

SAR’ 000

b)

The Bank’s credit exposure by business segments is as follows:

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and will cause the other party to incur a financial loss. Credit exposures arise principally in lending activities that lead to loans and advances, and investment activities. There is also credit risk in off-balance sheet financial instruments, such as loan commitments.

38

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