26/07/2018
Element
|
Current quarter
|
Similar quarter for previous year
|
% Change Current
|
Previous quarter
|
% Change Previous
|
Net profit (loss)
|
361.6
|
355.6
|
1.7
|
361.2
|
0.1
|
Total profit (loss) operation income\ Investments
|
671.1
|
655.8
|
2.3
|
686.3
|
-2.2
|
Net profit (loss) special commission income\ Investments
|
545.6
|
486.4
|
12.2
|
526.8
|
3.6
|
Element
|
Current period
|
similar period for previous year
|
% Change
|
Net profit (loss)
|
722.8
|
700.6
|
3.2
|
TOTAL PROFIT (LOSS) OPERATION INCOME\ INVESTMENTS
|
1,357.4
|
1,280.8
|
6.0
|
NET PROFIT (LOSS) SPECIAL COMMISSION INCOME\ INVESTMENTS
|
1,072.4
|
949.5
|
12.9
|
EARNING OR LOSS PER SHARE, RIYALS
|
0.96
|
0.93
|
|
TOTAL ASSETS
|
101,953
|
96,876
|
5.2
|
INVESTMENTS
|
23,007
|
21,623
|
6.4
|
LOANS AND ADVANCES PORTFOLIO
|
59,331
|
61,626
|
-3.7
|
CUSTOMER DEPOSIT
|
71,301
|
66,557
|
7.1
|
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT
|
EXPLANATION
|
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
|
NET INCOME INCREASED DUE TO AN INCREASE IN TOTAL OPERATING INCOME BY 2.3% RESULTING FROM AN INCREASE IN NET SPECIAL COMMISSION INCOME AND EXCHANGE INCOME. THIS WAS OFFSET PRIMARILY BY A DECREASE IN FAIR VALUE THROUGH PROFIT AND LOSS (FVTPL), GAINS ON INVESTMENTS, FEE INCOME FROM BANKING SERVICES, AND DIVIDEND INCOME. ON THE OTHER HAND, TOTAL OPERATING EXPENSES INCREASED BY 1.4% PRIMARILY DUE TO AN INCREASE IN OTHER GENERAL AND ADMINISTRATIVE EXPENSES, SALARIES AND EMPLOYEE RELATED EXPENSES, RENT AND PREMISES RELATED EXPENSES, AND DEPRECIATION AND AMORTIZATION. THIS WAS OFFSET BY A DECREASE IN PROVISIONS FOR CREDIT LOSSES.
|
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR
|
NET INCOME INCREASED DUE TO AN INCREASE IN TOTAL OPERATING INCOME BY 6.0% RESULTING FROM AN INCREASE IN NET SPECIAL COMMISSIONS INCOME, FEE INCOME FROM BANKING SERVICES, AND EXCHANGE INCOME. THIS WAS PARTIALLY OFFSET BY A DECREASE IN FAIR VALUE THROUGH PROFIT AND LOSS (FVTPL), GAINS ON INVESTMENTS, AND DIVIDEND INCOME. ON THE OTHER HAND, TOTAL OPERATING EXPENSES INCREASED BY 8.0% RESULTING FROM AN INCREASE IN PROVISIONS FOR CREDIT LOSSES, RENT AND PREMISES RELATED EXPENSES, SALARIES AND EMPLOYEE RELATED EXPENSES, OTHER GENERAL AND ADMINISTRATIVE EXPENSES, AND DEPRECIATION AND AMORTIZATION.
|
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER
|
NET INCOME INCREASED DUE TO A DECREASE IN TOTAL OPERATING EXPENSES BY 4.7% RESULTING FROM A DECREASE IN PROVISIONS FOR CREDIT LOSSES, AND RENT AND PREMISES RELATED EXPENSES. THIS WAS OFFSET BY AN INCREASE IN OTHER GENERAL AND ADMINISTRATIVE EXPENSES. ON THE OTHER HAND, OPERATING INCOME DECREASED 2.2% PRIMARILY DUE TO A DECREASE IN FAIR VALUE THROUGH PROFIT AND LOSS (FVTPL), AND FEE INCOME FROM BANKING SERVICES. THIS WAS OFFSET PRIMARILY BY AN INCREASE IN NET SPECIAL COMMISSION INCOME.
|
EXTERNAL AUDITOR'S REPORT CONTAINING RESERVATION
|
THE EXTERNAL AUDITORS HAVE REVIEWED THE FINANCIAL STATEMENTS AND PLAN TO ISSUE AN UNMODIFIED REPORT.
|
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTS
|
THE PREVIOUS PERIOD NUMBERS HAVE BEEN RECLASSIFIED/ ADJUSTED TO CONFORM TO THE CURRENT PERIOD PRESENTATION.
|
Other notes
|
SPECIAL COMMISSION INCOME FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2018 REACHED SAR 1,826 MILLION COMPARED TO SAR 1,722 MILLION FOR THE SAME PERIOD LAST YEAR, AN INCREASE OF 6.0%. SPECIAL COMMISSION INCOME FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2018 REACHED SAR 937 MILLION COMPARED TO SAR 846 MILLION FOR THE SAME PERIOD LAST YEAR, AN INCREASE OF 10.8%.
|
Other notes
|
TOTAL COMPREHENSIVE INCOME FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2018 WAS SAR 567 MILLION AS COMPARED TO SAR 612 MILLION FOR THE SAME PERIOD LAST YEAR, A DECREASE OF 7.4%. TOTAL COMPREHENSIVE INCOME FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2018 WAS SAR 369 MILLION AS COMPARED TO SAR 259 MILLION IN THE CORRESPONDING PERIOD OF LAST YEAR, AN INCREASE OF 42.5%. TOTAL COMPREHENSIVE INCOME FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2018 WAS SAR 369 MILLION AS COMPARED TO SAR 270 MILLION IN THE PREVIOUS QUARTER, AN INCREASE OF 36.7%.
TOTAL EQUITY (NO MINORITY INTEREST) INCREASED BY 5.0% TO REACH SAR 14.5 BILLION AS OF JUNE 30, 2018 COMPARED TO SAR 13.8 BILLION AS OF JUNE 30, 2017. TOTAL EQUITY AS OF JUNE 30, 2018 INCLUDES SAR 1,785 MILLION IN TIER 1 SUKUK, SAR 500 MILLION ISSUED IN THE FOURTH QUARTER OF 2016, SAR 285 MILION ISSUED IN THE SECOND QUARTER OF 2017, AND SAR 1,000 MILION ISSUED IN THE FIRST QUARTER OF 2018. |
