Net profit (loss) special commission income Investments
1,447
1,466
-1.3
1,386
4.4
All figures are in (Millions) Saudi Arabia, Riyals
Element
Current period
Similar period for previous year
% Change
Net profit (loss)
3,810
3,916
-2.71
Total profit (loss) operation income Investments
5,989
5,965
0.4
Net profit (loss) special commission income Investments
4,191
4,057
3.3
Earning or loss per share, Riyals
1.9
1.96
-
Total Assets
228,873
238,314
-3.96
Investments
63,411
53,721
18.04
Loans and advances portfolio
120,678
129,803
-7.03
Customer deposit
166,736
173,964
-4.15
All figures are in (Millions) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year
The net income has decreased due to increase in total operating expenses by 2.7% which is mainly due to increase in credit costs and other general and administrative expenses for the period. Total operating income slightly decreased by 0.7% due to decrease in fee from banking services, exchange income and net special commission income. This was offset by increase in FVIS income, trading income and gains on non-trading investment.
Reasons of increase (decrease) for period compared with same period last year
The net income has decreased due to increase in total operating expenses by 6.3% which is mainly due to increase in credit costs and other general and administrative expenses for the period. This was offset by increase in total operating income by 0.4% due to increase in net special commission income, trading and FVIS income, partially offset by decrease in fee from banking services, exchange income, gains on non-trading and other operating income.
Reason of increase (decrease) for quarter compared with the previous quarter
The net income increased as a result of lower operating expenses which decreased by 0.5% and increase in total operating income by 1.7%. The increase in total operating income is attributed to increase in net special commission income, fee from banking services, FVIS income and gains on non-trading investment. The increase was offset by decrease in foreign exchange income, trading income and other operating income.
Reclassifications in quarterly financial results
Some numbers have been restated.
Other notes
Gross special commission income decreased by 3.0% to SAR 1,727 million during third quarter of 2017, compared to SAR 1,782 million for the same quarter in 2016. Gross special commission income increased by 4.3% to SAR 5,106 million for the nine months of 2017, compared to SAR 4,896 million for the same period of the last year. Total comprehensive income for the three months period ended 30 Sep 2017 was SAR 1,395 million as compared to SAR 869 million in corresponding period of last year, an increase of 60.5% and compared to 1,549 million in the previous quarter with an decrease 9.9%. Total comprehensive income for the nine months period ended 30 Sep 2017 was SAR 4,014 million as compared to SAR 3,066 million in last year, an increase of 30.9%.Total shareholders equity (excluding minority rights) reached to SAR 43,552 million as of 30 Sep 2017 compared to SAR 40,916 million as of 30 Sep 2016, an increase of 6.4%.
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