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BANQUE SAUDI FRANSI CONSOLIDATED BALANCE SHEET As at December 31, 2008 and 2007 - page 48 / 51

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BANQUE SAUDI FRANSI

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

SAR’ 000

Within 3

3-12

1-5

months

months

years

Over 5

No fixed

years

maturity

Total

2008

Due to banks and other financial institutions Customers’ deposits Term loans Other liabilities Shareholders’ equity Total liabilities and shareholders’ equity Derivatives Contractual amount payable Contractual amount receivable

42,173,038

15,516,254

3,362,936

-

32,460,595

93,512,823

33,333

100,001

5,297,223

-

-

5,430,557

5,675,142

5,675,142

14,069,136

14,069,136

-

-

-

-

-

-

-

-

7,376,510

362,881

-

-

6 7 7 , 6 1 4

8 , 4 1 7 , 0 0 5

(39,442,783)

9,618,253 32,768,936

3,430,019

47,360,826

(9,055,663) (41,534,692)

(4,519,997)

49,582,881

15,979,136

8,660,159

  • -

    52,882,487 127,104,663

    • -

      6,374,425

    • -

      (7,749,526)

Total

2007 Due to banks and other financial institutions Customers’ deposits Term loan Other liabilities Shareholders’ equity Total liabilities and shareholders’ equity Derivatives Contractual amount payable Contractual amount receivable

57,500,924

6,761,579 37,171,583 31,223 - -

43,964,385

(30,985,886) 28,486,779

16,541,726

(105,597)

(1,089,978)

52,882,487 125,729,562

845,835 9,451,533 93,670

- 1,092,873 2,625,534

- - - - -

, 26,672,334

569 367

- 4,000,011 11,240,635

,, 74,388,323 2,750,427 4,000,011 11,240,635

8 176 781

- -

- -

10,391,038 3,718,407

-

42,482,347

100,556,177

8,713,543 25,167,612 (7,150,418) (25,007,251)

1,938,176 (1,254,196)

- -

,

4,833,445 (4 925 086)

,

Total 41,465,278

11,954,163

3,878,768

683,980

42,482,347 100,464,536

34

Fair values of financial assets and liabilities

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm’s length transaction.

The fair values of on balance sheet financial instruments, except for held to maturity and other financial instruments held at amortized cost are not significantly different from the carrying values included in the consolidated financial statements. The fair values of Loans and advances, commission bearing customers’ deposits, Debts securities in issue, due from and due to banks which are carried at amortized cost, are not significantly different from the carrying values included in the consolidated financial statements, since the current market commission rates for similar financial instruments are not significantly different from the contracted rates, and due to the short duration of due from and due to banks.

The estimated fair values of the held to maturity investments and other investments held at amortized cost, are based on quoted market prices when available or pricing models when used in the case of certain fixed rate bonds. Consequently, differences can arise between carrying values and fair value estimates. The fair values of these investments are disclosed in note 6.

The fair values of derivatives and other off-balance sheet financial instruments are based on the quoted market prices when available or by using the appropriate valuation technique. The total amount of the changes in fair value recognised in the consolidated statement of income, which was estimated using valuation technique , is SAR 64 million (2007: SAR 67million).

48

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