Banque Saudi Fransi discloses impact of IFRS9 on balance sheet
11/03/2018
Argaam Special
Banque Saudi Fransi expects a net decrease of shareholders’ equity between 2 percent and 3 percent, following the implementation of IFRS9 Standard as of January 1.
This reduction in shareholders' equity is likely to range between SAR 654 million and SAR 950 million, while total equity reached SAR 31.7 billion at the end of 2017.
The lender said its capital adequacy ratio is likely to decline between 0.06 percent and 0.10 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 added.
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