Saudi British Bank announces the interim financial results for the period ending on 30-09-2017 (Nine Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 1,083 | 995 | 8.84 | 1,129 | -4.07 |
| Total profit (loss) operation income Investments | 1,764 | 1,687 | 4.56 | 1,801 | -2.05 |
| Net profit (loss) special commission income Investments | 1,258 | 1,222 | 2.95 | 1,284 | -2.02 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 3,248 | 3,288 | -1.22 |
| Total profit (loss) operation income Investments | 5,389 | 5,244 | 2.77 |
| Net profit (loss) special commission income Investments | 3,793 | 3,521 | 7.73 |
| Earning or loss per share, Riyals | 2.17 | 2.19 | - |
| Total Assets | 179,481 | 185,904 | -3.45 |
| Investments | 25,252 | 29,034 | -13.03 |
| Loans and advances portfolio | 116,686 | 125,875 | -7.3 |
| Customer deposit | 134,565 | 144,084 | -6.61 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in net profit was primarily driven by higher operating income which increased by 4.6% mainly due to higher net special commission income, gain on non-trading investments and dividend income, in addition to lower provision for credit losses. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease in net profit was primarily driven by higher operating expenses which increased by 9.4% mainly due to increase in provision for credit losses and impairment of other financial assets. This increase in operating expenses has been partially offset by an increase in total operating income of 2.8% due to a higher net special commission income, offset by a decrease in fee and commission income and exchange income. |
| Reason of increase (decrease) for quarter compared with the previous quarter | The decrease in net profit was primarily driven by lower operating income which decreased by 2.0% mainly due to lower net special commission income, fee and commission income and trading income, partially offset by an increase in gain on non-trading investments and dividend income. Total operating expenses increased by 2.4% mainly due to an increase in salaries and employee related expenses and provision for credit losses, which was partially offset by a decrease in general and administrative expenses. |
| Reclassifications in quarterly financial results | Certain prior period balance sheet numbers have been restated to incorporate some reclassifications in order to align with the current period presentation. |
| Other notes | Gross special commission income for the three months period ended 30 September 2017 was SAR 1,491 million as compared to SAR 1,595 million in corresponding period of last year, a decrease of 6.5%. Gross special commission income for the nine months period ended 30 September 2017 was SAR 4,523 million as compared to SAR 4,480 million in corresponding period of last year, an increase of 1.0%. Total comprehensive income for the three months period ended 30 September 2017 was SAR 1,016 million, an increase of 8.3% as compared to SAR 938 million in corresponding period of last year ,and a decrease of 22.8% as compared to SAR 1,316 million in the previous quarter. Total comprehensive income for the nine months period ended 30 September 2017 was SAR 3,256 million as compared to SAR 3,144 million in corresponding period of last year, an increase of 3.6%. Total shareholders' equity (book value) as at 30 September 2017 was SAR 32.7 billion compared to SAR 30.1 billion for same period of last year, an increase of 8.6%. |
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