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Financial Statements, December 31, 2009

View detailed financial statements as

Summary

| Consolidated Statement of Financial Position |

As at December 31, 2009 and 2008

Amounts in SAR'000	2009	2008
ASSETS
Cash and balances with SAMA	1,527,905	1,426,919
Due from banks and other financial institutions	5,265,973	7,452,651
Investments, net	10,736,859	12,731,159
Loans and advances, net	29,784,804	29,555,560
Investments in associates	817,309	719,422
Property and equipment, net	706,645	547,585
Other assets	1,308,516	1,163,068
Total assets	50,148,011	53,596,364

LIABILITIES AND EQUITY
Liabilities
Due to banks and other financial institutions	3,211,950	5,208,913
Customer deposits	38,247,429	40,702,391
Other liabilities	760,502	1,076,462
Term loan	500,000	-
Total liabilities	42,719,881	46,987,766

Equity
Equity attributable to equity holders of the Bank
Share capital	4,500,000	4,500,000
Statutory reserve	2,418,000	2,287,000
Other reserves	(284,548)	(573,883)
Retained earnings	803,101	412,475
Employee stock option shares	(44,490)	(44,490)
Total equity attributable to equity holders of the Bank	7,392,063	6,581,102
Minority Interest	36,067	27,496
Total equity	7,428,130	6,608,598
Total liabilities and equity	50,148,011	53,596,364

| Consolidated Income Statement |

As at December 31, 2009 and 2008

Amounts in SAR'000	2009	2008
Special commission income	1,842,523	2,540,681
Special commission expense	828,104	1,514,240
Net special commission income	1,014,419	1,026,441
Fee income from banking services, net	239,986	481,410
Exchange income, net	28,688	43,336
Dividend income	21,702	48,521
Gains on non-trading investments, net	85,910	228,379
Gain on sale of property (2009) and investment in subsidiary (2008)	126,453	110,000
Total operating income	1,517,158	1,938,087
Salaries and employee-related expenses	308,866	281,735
Rent and premises-related expenses	59,817	52,353
Depreciation and amortization	51,673	48,879
Other general and administrative expenses	119,055	27,567
Impairment charge for credit losses, net	514,565	30,000
Impairment charge for non-trading investments	40,000	967,537
Total operating expenses	1,093,976	1,408,071
Income from operating activities	423,182	530,016
Share in earnings of associates	115,587	-
Net income for the year	538,769	530,016
Income attributable to minority interest	17,143	16,787
Net income attributable to equity holders of the Bank	521,626	513,229
Basic and diluted earnings per share (expressed in SAR per share)	1.16	1.14

| Consolidated Statement of Comprehensive Income |

As at December 31, 2009 and 2008

Amounts in SAR'000	2009	2008
Net income for the year	538,769	530,016
Other comprehensive income:
Available for sale investments:
- Net change in fair value	375,276	(1,396,497)
- Transfers to consolidated income statement	(85,910)	739,158
Net impact on other reserves	289,366	(657,339)
Total comprehensive income / (loss) for the year	828,135	(127,323)
Attributable to:
Equity holders of the Bank	810,961	(144,034)
Minority interest	17,174	16,711
Total comprehensive income / (loss) for the year	828,135	(127,323)

| Consolidated Statement of Changes in Equity |

For the years ended December 31, 2009 and 2008

Attributable to equity holders of the Bank
Amounts in SAR'000	Share capital	Statutory reserve	Other reserves	Retained earnings	Employee stock option shares	Total	Minority interest	Total equity
2009
Balance at the beginning of the year	4,500,000	2,287,000	(573,883)	412,475	(44,490)	6,581,102	27,496	6,608,598
Total comprehensive income for the year	-	-	289,335	521,626	-	810,961	17,174	828,135
Payment to minority interest	-	-	-	-	-	-	(8,603)	(8,603)
Transfer to statutory reserve	-	131,000	-	(131,000)	-	-	-	-
Balance at end of the year	4,500,000	2,418,000	(284,548)	803,101	(44,490)	7,392,063	36,067	7,428,130

2008
Balance at the beginning of the year	3,910,160	2,158,000	83,380	618,086	-	6,769,626	-	6,769,626
Minority interest added during the year	-	-	-	-	-	-	22,500	22,500
Net changes in employee stock option shares	-	-	-	-	(44,490)	(44,490)	-	(44,490)
Total comprehensive income / (loss) for the year	-	-	(657,263)	513,229	-	(144,034)	16,711	(127,323)
Payment to minority interest	-	-	-	-	-	-	(11,715)	(11,715)
Bonus share issue	589,840	-	-	(589,840)	-	-	-	-
Transfer to statutory reserve	-	129,000	-	(129,000)	-	-	-	-
Balance at end of the year	4,500,000	2,287,000	(573,883)	412,475	(44,490)	6,581,102	27,496	6,608,598

| Consolidated Statement of Cash Flows |

For the years ended December 31, 2009 and 2008

Amounts in SAR'000	2009	2008
OPERATING ACTIVITIES
Net income	538,769	530,016
Adjustments to reconcile net income to net cash (used in) from operating activities:
Accretion of discounts on investments, net	(54,566)	(182,697)
Gains on non-trading investments, net	(85,910)	(228,379)
Gain on sale of property and investment in subsidiary	(126,453)	(110,000)
Depreciation and amortization	51,673	48,879
Impairment charge for credit losses, net	514,565	30,000
Impairment charge for non-trading investments	40,000	967,537
Share in earnings of associates	(115,587)	-
	762,491	1,055,356
Net (increase) / decrease in operating assets and liabilities:
Statutory deposit with SAMA	(106,424)	(424,722)
Due from banks and other financial institutions maturing after ninety days from date of acquisition	18,765	108,756
Loans and advances	(743,809)	(6,456,859)
Other assets	(145,448)	(71,864)
Due to banks and other financial institutions	(1,996,963)	696,812
Customer deposits	(2,454,962)	7,934,120
Other liabilities	(315,960)	9,667
Net cash (used in) / from operating activities	(4,982,310)	2,851,266

INVESTING ACTIVITIES
Proceeds from sale of and matured non-trading investments	6,336,654	8,993,299
Proceeds from sale of property and investment in subsidiary	141,342	122,500
Purchase of non-trading investments	(3,931,678)	(7,099,350)
Investments in associates	(12,028)	(186,638)
Employee stock option shares	-	(44,490)
Purchase of property and equipment	(237,538)	(171,873)
Proceeds from sale of property and equipment	12,207	114
Net cash from investing activities	2,308,959	1,613,562

FINANCING ACTIVITIES
Term loan proceeds / (paid)	500,000	(1,425,000)
Net cash from / (used) in financing activities	500,000	(1,425,000)
(Decrease) / increase in cash and cash equivalents	(2,173,351)	3,039,828
Cash and cash equivalents at beginning of the year	7,780,742	4,740,914
Cash and cash equivalents at end of the year	5,607,391	7,780,742
Special commission received during the year	1,870,808	2,497,610
Special commission paid during the year	1,161,931	1,326,467

Supplemental non-cash information
Net changes in fair value and transfers to income statement	289,335	(657,263)
Bonus share issued	-	589,840
Settlement of loans for available for sale investment and other real estate	898,907	-

Quarterly Financial Statements

| 1st Quarter | View detailed statements as

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Amounts in SAR'000	Mar 31 2009 (Unaudited)	Dec 31 2008 (Audited)	Mar 31 2008 (Unaudited)
Assets
Cash and balances with SAMA	1,504,054	1,426,919	1,232,310
Due from banks and other financial institutions	4,526,948	7,452,651	3,692,689
Investments, net	11,613,363	12,731,159	14,583,864
Investment in associates	818,206	719,422	521,669
Loans and advances, net	30,110,120	29,555,560	24,563,489
Property and equipment, net	582,875	547,585	442,318
Other assets	1,128,775	1,163,068	1,086,243
Total assets	50,284,341	53,596,364	46,122,582

LIABILITIES AND EQUITY
Liabilities
Due to banks and other financial institutions	4,424,231	5,208,913	3,923,543
Customer deposits	38,042,331	40,702,391	33,079,151
Other liabilities	904,648	1,076,462	888,500
Term loan	-	-	1,425,000
Total liabilities	43,371,210	46,987,766	39,316,194

Equity
Equity attributable to shareholders of the Bank
Share capital	4,500,000	4,500,000	4,500,000
Statutory reserve	2,287,000	2,287,000	2,158,000
Other reserves	(511,439)	(573,883)	(151,946)
Retained earnings	653,061	412,475	286,414
Employee stock option shares	(44,490)	(44,490)	-
Total equity attributable to shareholders of the Bank	6,884,132	6,581,102	6,792,468
Minority interest	28,999	27,496	13,920
Total equity	6,913,131	6,608,598	6,806,388
Total liabilities and equity	50,284,341	53,596,364	46,122,582

CONSOLIDATED INCOME STATEMENT (Unaudited) For the three months ended March 31
Amounts in SAR'000		2009	2008
Special commission income		557,736	592,072
Special commission expense		316,598	336,907
Net special commission income		241,138	255,165
Fee income from banking services, net		51,982	160,741
Exchange income, net		8,044	12,522
Dividend income		14,243	16,668
Gain on non-trading investments, net		2,121	37,592
Total operating income		317,528	482,688
Salaries and employee-related expenses		76,278	72,935
Rent and premises-related expenses		13,447	12,575
Depreciation and amortization		10,157	11,677
Other general and administrative expenses		31,273	15,507
Impairment charge for credit losses, net		5,000	15,000
Impairment of non-trading investments		-	93,000
Total operating expenses		136,155	220,694
Income from operating activities		181,373	261,994
Share in earnings from associates, net		62,618	-
Net income for the period		243,991	261,994
Income attributable to minority interest		3,405	3,826
Net income for the period attributable to shareholders of the Bank		240,586	258,168
Basic and diluted earnings per share (Expressed in SAR per share)		0.53	0.57

| 2nd Quarter | View detailed statements as

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at Amounts in SAR'000		June 30, 2009 (Unaudited)	Dec. 31, 2008 (Audited)	June 30, 2008 (Unaudited)
ASSETS
Cash and balances with SAMA		1,452,115	1,426,919	1,860,502
Due from banks and other financial institutions		6,127,443	7,452,651	5,190,311
Investments, net		10,417,246	12,731,159	14,467,250
Loans and advances, net		30,152,801	29,555,560	28,139,606
Investment in associates		818,724	719,422	691,586
Property and equipment, net		659,547	547,585	468,634
Other assets		1,102,879	1,163,068	1,116,311

Total assets		50,730,755	53,596,364	51,934,200

LIABILITIES AND EQUITY
Liabilities

Due to banks and other financial institutions		5,783,402	5,208,913	5,634,908
Customer deposits		36,363,883	40,702,391	36,863,187
Other liabilities		933,735	1,076,462	878,012
Term loan		500,000	-	1,425,000

Total liabilities		43,581,020	46,987,766	44,801,107

Equity

Equity attributable to shareholders at the Bank

Share capital		4,500,000	4,500,000	4,500,000
Statutory reserve		2,287,000	2,287,000	2,158,000
Other reserves		(467,122)	(573,883)	(109,685)
Retained earnings		840,891	412,475	566,395
Employee stock option shares		(44,490)	(44,490)	-
Total equity attributable to shareholders of the Bank		7,116,279	6,581,102	7,114,710

Minority interest		33,456	27,496	18,383
Total equity		7,149,735	6,608,598	7,133,093
Total liabilities and equity		50,730,755	53,596,364	51,934,200

CONSOLIDATED INCOME STATEMENT (Unaudited)
Amounts in SAR' 000	Three months period ended		Six months period ended
	June 30, 2009	June 30, 2008	June 30, 2009	June 30, 2008

Special commission income	479,251	624,448	1,036,987	1,216,520
Special commission expense	216,495	274,348	533,093	611,255
Net special commission income	262,756	350,100	503,894	605,265

Fees from banking servies, net	65,333	128,217	117,315	288,958
Exchange income, net	7,708	(209)	15,752	12,313
Dividend income	563	6,745	14,806	23,413
Gain on non- trading investments, net	24,924	128,515	27,045	166,107
Total operating income	361,284	613,368	678,812	1,096,056

Salaries and employee-related expenses	77,515	75,299	153,793	148,234
Rent and premises-related expenses	14,968	13,034	28,415	25,609
Depreciation and amortization	13,735	11,824	23,892	23,501
Other general and administrative expenses	29,954	14,224	61,227	29,731
Impairment charge for credit losses	55,000	5,000	60,000	20,000
Impairment charge for non-trading investments	-	209,450	-	302,450
Total operating expenses	191,172	328,831	327,327	549,525
Income from operating activities	170,112	284,537	351,485	546,531
Share in earnings from associates	22,169	-	84,787	-

Net income for the period	192,281	284,537	436,272	546,531
Income attributable to minority interest	4,451	4,556	7,856	8,382
Net income for the period attributable to shareholders of the Bank	187,830	279,981	428,416	538,149
Basic and diluted earnings per share (Expressed in SAR per share)	0.42	0.62	0.95	1.20

| 3rd Quarter | View detailed statements as

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at Amounts in SAR'000		Sep 30, 2009 (Unaudited)	Dec. 31, 2008 (Audited)	Sep 30, 2008 (Unaudited)
ASSETS
Cash and balances with SAMA		1,651,678	1,426,919	2,093,797
Due from banks and other financial institutions		4,593,675	7,452,651	5,352,675
Investments, net		11,138,535	12,731,159	14,565,639
Loans and advances, net		30,525,684	29,555,560	29,874,225
Investment in associates		834,541	719,422	715,296
Property and equipment, net		679,795	547,585	494,168
Other assets		1,149,485	1,163,068	1,404,141

Total assets		50,573,393	53,596,364	54,499,941

LIABILITIES AND EQUITY
Liabilities

Due to banks and other financial institutions		2,991,395	5,208,913	3,481,083
Customer deposits		38,415,473	40,702,391	43,045,332
Other liabilities		931,637	1,076,462	1,052,635
Term loan		500,000	-	-

Total liabilities		42,838,505	46,987,766	47,579,050

Equity

Equity attributable to shareholders of the Bank
Share capital		4,500,000	4,500,000	4,500,000
Statutory reserve		2,287,000	2,287,000	2,158,000
Other reserves		(82,452)	(573,883)	(403,519)
Retained earnings		1,043,647	412,475	632,192
Employee stock option shares		(44,490)	(44,490)	-

Total equity attributable to shareholders of the Bank		7,703,705	6,581,102	6,886,673

Minority interest		31,183	27,496	34,218
Total equity		7,734,888	6,608,598	6,920,891
Total liabilities and equity		50,573,393	53,596,364	54,499,941

CONSOLIDATED INCOME STATEMENT Unaudited
Amounts in SAR' 000	Three months period ended		Nine months period ended
	Sep 30, 2009	Sep 30, 2008	Sep 30, 2009	Sep 30, 2008

Special commission income	410,800	627,040	1,447,787	1,843,560
Special commission expense	170,993	405,437	704,086	1,016,692
Net special commission income	239,807	221,603	743,701	826,868

Fees from banking servies, net	58,646	85,800	175,961	374,758
Exhange income, net	6,820	16,183	22,572	28,496
Dividend income	6,230	11,243	21,036	34,656
Gain / (loss) on non- trading investments, net	58,821	(29,614)	85,866	136,493
Gain on sale of investment in subsidiary	-	110,000	-	110,000

Total operating income	370,324	415,215	1,049,136	1,511,271

Salaries and employee-related expenses	78,618	70,158	232,411	218,392
Rent and premises-related expenses	13,275	13,385	41,690	38,994
Depreciation and amortization	14,013	12,577	37,905	36,078
Other general and administrative expenses	22,045	19,546	83,272	49,277
Impairment charge for credit losses	60,000	5,000	120,000	25,000
Impairment charge for non-trading investments	-	225,420	-	527,870
Total operating expenses	187,951	346,086	515,278	895,611
Income from operating activities	182,373	69,129	533,858	615,660
Share in earnings from associates	24,817	-	109,604	-

Net income for the period	207,190	69,129	643,462	615,660
Income attributable to minority interest	4,434	3,332	12,290	11,714
Net income for the period attributable to shareholders of the Bank	202,756	65,797	631,172	603,946
Basic and diluted earnings per share (Expressed in SAR per share)	0.45	0.15	1.40	1.34

Basel II Disclosures

Quantitative Disclosure - Semi-annual 2009
Quantitative Disclosure - Annual 2009

Investor Relations

Financial Statements, December 31, 2009

View detailed financial statements as

Summary

| Consolidated Statement of Financial Position |

As at December 31, 2009 and 2008

| Consolidated Income Statement |

As at December 31, 2009 and 2008

| Consolidated Statement of Comprehensive Income |

As at December 31, 2009 and 2008

| Consolidated Statement of Changes in Equity |

For the years ended December 31, 2009 and 2008

| Consolidated Statement of Cash Flows |

For the years ended December 31, 2009 and 2008

Quarterly Financial Statements

| 1st Quarter | View detailed statements as

| 2nd Quarter | View detailed statements as

| 3rd Quarter | View detailed statements as

Basel II Disclosures

Quantitative Disclosure - Semi-annual 2009

Quantitative Disclosure - Annual 2009