Fixed Assets Disclosure

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A summary of the Bank’s Property and equipment (net) is presented below (SAR’000):

 

  2014 2015
Land and Buildings 754,447 759,491
Leasehold improvements 26,763 43,692
Furniture, equipment and vehicles 128,412 218,381
Total 909,622 1,021,564

Property and equipment is stated at cost and presented net of accumulated depreciation. Freehold land is not depreciated. The cost of other property and equipment is depreciated using a straight line method over the estimated useful lives of the assets as follows:

  • Buildings - 20-30 years
  • Leasehold improvements - Over the lease period or 5 years, whichever is shorter
  • Furniture, equipment and vehicles - 4-5 years.

Further information is available in the 2015 Annual Report – Note 9