19/04/2017
Element
|
Current quarter
|
Similar quarter for previous year
|
% Change Current
|
Previous quarter
|
% Change Previous
|
Net profit (loss)
|
344.9
|
210.0
|
64.24
|
302.2
|
14.13
|
Total profit (loss) operation income\ Investments
|
625.0
|
590.7
|
5.80
|
569.8
|
9.69
|
Net profit (loss) special commission income\ Investments
|
463.0
|
412.8
|
12.16
|
377.9
|
22.52
|
Element
|
Current period
|
similar period for previous year
|
% Change
|
Earning or loss per share, Riyals
|
0.49
|
0.30
|
63.33
|
Total Assets
|
97,546
|
96,394
|
1.20
|
Investments
|
21,309
|
18,992
|
12.20
|
Loans and advances portfolio
|
60,290
|
61,615
|
-2.15
|
Customer deposit
|
64,437
|
70,687
|
-8.84
|
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
|
EXPLANATION
|
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
|
THE INCREASE IN NET INCOME WAS DUE TO THE INCREASE IN OPERATING INCOME OF 5.80% WHICH WAS MAINLY DUE TO THE INCREASE IN NET SPECIAL COMMISSION INCOME AND FEES FROM BANKING SERVICES, WHICH WAS OFFSET BY A DECREASE IN GAINS FROM NON-TRADING INVESTMENTS. OPERATING EXPENSES DECREASED BY 26.33% WHICH WAS MAINLY DUE TO THE DECREASE IN IMPAIRMENT CHARGES FOR NON-TRADING INVESTMENTS AND IMPAIRMENT CHARGES FOR CREDIT LOSSES, WHICH WAS OFFSET BY AN INCREASE IN RENT AND PREMISES RELATED EXPENSES.
|
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER
|
THE INCREASE IN NET INCOME WAS DUE TO THE INCREASE IN OPERATING INCOME BY 9.69% WHICH WAS MAINLY DUE TO THE INCREASE IN NET SPECIAL COMMISSION INCOME AND FEE FROM BANKING SERVICES, WHICH WAS OFFSET BY A DECREASE IN EXCHANGE INCOME AND GAINS ON INVESTMENTS. OPERATING EXPENSES DECREASED BY 2.17% WHICH WAS MAINLY DUE TO THE DECREASE IN SALARIES AND EMPLOYEE RELATED EXPENSES AND IMPAIRMENT CHARGE FOR CREDIT LOSSES.
|
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS
|
SOME ITEMS HAVE BEEN RECLASSIFIED
|
Other notes
|
EARNINGS PER SHARE FOR THE THREE MONTHS OF 2016 WAS SAR 0.30, WHICH WAS RECALCULATED TO REFLECT THE INCREASE IN THE BANKS CAPITAL FROM 650 MILLION SHARES TO 700 MILLION SHARES WHICH WAS APPROVED IN THE EXTRAORDINARY GENERAL ASSEMBLY MEETING ON 04/04/2016.
|
Other notes
|
SPECIAL COMMISSION INCOME FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2017 REACHED SAR 877 MILLION COMPARED TO SAR 717 MILLION FOR THE SAME PERIOD LAST YEAR, AN INCREASE OF 22%.
TOTAL EQUITY INCREASED BY 15.1% TO REACH SAR 13.7 BILLION AS OF MARCH 31, 2017 COMPARED TO SAR 11.9 BILLION FOR THE SAME PERIOD LAST YEAR. TOTAL EQUITY AS OF MARCH 31, 2017 INCLUDES SAR 500 MILLION SUBORDINATED TIER 1 SUKUK ISSUED IN THE FOURTH QUARTER OF 2016. |
