ANB discloses impact of IFRS9 on its balance sheet

The Arab National Bank (ANB) expected a net decrease of its shareholders’ equity by 2.05 percent to 2.26 percent as of January 1, after the enactment of IFRS9 accounting standard.

Shareholders' equity will be reduced by an amount between SAR 541 million and SAR 566 million, out of a total equity of SAR 25.01 billion as at the end of 2017.

The lender said its capital adequacy ratio will be reduced by less than 75 basis points, and the impact will be carried forward over five years.