Alawwal Bank discloses impact of IFRS9 on its balance sheet
26/02/2018
Argaam
Alawwal Bank expects a net decrease of shareholders’ equity by 0.47 to 1.12 percent as of January 1, following the implementation of IFRS9 Standard.
The reduction in the bank's shareholders' equity is set to range between SAR 63.9 million and 152.3 million, from a total equity of SAR 13.6 billion, by the end of 2017.
The lender said its capital adequacy ratio will be slightly reduced by 0.2 percent.
The assessments above imply a point in time estimate rather than forecasts. Actual impact of the new standard could vary significantly from such estimates, the bank said.
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