Net profit (loss) special commission income Investments
509
460.7
10.48
486.4
4.65
All figures are in (Millions) Saudi Arabia, Riyals
Element
Current period
Similar period for previous year
% Change
Net profit (loss)
1,059
750.8
41.05
Total profit (loss) operation income Investments
1,982.4
1,836.1
7.97
Net profit (loss) special commission income Investments
1,458.4
1,294.2
12.69
Earning or loss per share, Riyals
1.41
1
-
Total Assets
98,284
96,182
2.19
Investments
21,840
20,550
6.28
Loans and advances portfolio
61,069
61,288
-0.36
Customer deposit
71,065
66,447
6.95
All figures are in (Millions) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year
NET INCOME INCREASED DUE TO THE INCREASE IN TOTAL OPERATING INCOME BY 10.8% RESULTING FROM THE INCREASE IN NET SPECIAL COMMISSION INCOME AND GAINS ON INVESTMENTS. THIS WAS PARTIALLY OFFSET BY A DECREASE IN FEE INCOME FROM BANKING SERVICES. ON THE OTHER HAND, TOTAL OPERATING EXPENSES DECREASED BY 15.3% PRIMARILY DUE TO THE DECREASE IN IMPAIRMENT CHARGES FOR INVESTMENTS.
Reasons of increase (decrease) for period compared with same period last year
NET INCOME INCREASED DUE TO THE INCREASE IN TOTAL OPERATING INCOME BY 8% RESULTING FROM THE INCREASE IN NET SPECIAL COMMISSIONS INCOME. THIS WAS PARTIALLY OFFSET BY A DECREASE IN GAINS ON INVESTMENTS AND DIVIDEND INCOME. ON THE OTHER HAND, TOTAL OPERATING EXPENSES DECREASED BY 13.9% RESULTING FROM THE DECREASE IN IMPAIRMENT CHARGES FOR BOTH CREDIT LOSSES AND INVESTMENTS AND OTHER GENERAL AND ADMINISTRATIVE EXPENSES. THIS WAS PARTIALLY OFFSET BY AN INCREASE IN RENT AND PREMISES-RELATED EXPENSES.
Reason of increase (decrease) for quarter compared with the previous quarter
NET INCOME INCREASED BY 0.8% DUE TO THE INCREASE IN TOTAL OPERATING INCOME BY 7% RESULTING FROM THE INCREASE IN NET SPECIAL COMMISSION INCOME, GAINS ON INVESTMENTS AND EXCHANGE INCOME. THIS WAS PARTIALLY OFFSET BY A DECREASE IN FEE INCOME FROM BANKING SERVICES. ON THE OTHER HAND, OPERATING EXPENSES INCREASED BY 15% PRIMARILY DUE TO THE INCREASE IN IMPAIRMENT CHARGES FOR INVESTMENTS.
Reclassifications in quarterly financial results
THE PREVIOUS PERIOD NUMBERS HAVE BEEN RECLASSIFIED TO CONFORM TO THE CURRENT YEAR PRESENTATION.
Other notes
EARNINGS PER SHARE FOR THE FIRST NINE MONTH OF 2016 WAS SAR 1.00, WHICH WAS RECALCULATED TO REFLECT THE INCREASE IN THE BANKS CAPITAL FROM 700 MILLION SHARES TO 750 MILLION SHARES WHICH WAS APPROVED IN THE EXTRAORDINARY GENERAL ASSEMBLY MEETING ON 17/04/2017. SPECIAL COMMISSION INCOME FOR THE NINE MONTH PERIOD ENDED SEPTEMBER 30, 2017 REACHED SAR 2,591 MILLION COMPARED TO SAR 2,351 MILLION FOR THE SAME PERIOD LAST YEAR, AN INCREASE OF 10.2%. SPECIAL COMMISSION INCOME FOR THE THREE MONTH PERIOD ENDED SEPTEMBER 30, 2017 REACHED SAR 868 MILLION COMPARED TO SAR 861 MILLION FOR THE SAME PERIOD LAST YEAR, AN INCREASE OF 2.7%.
TOTAL COMPREHENSIVE INCOME FOR THE NINE MONTH PERIOD ENDED 30 SEPTEMBER 2017 WAS SAR 764 MILLION AS COMPARED TO SAR 886 MILLION IN THE PRIOR YEAR, A DECREASE OF 13.8%. TOTAL COMPREHENSIVE INCOME FOR THE THREE MONTH PERIOD ENDED 30 SEPTEMBER 2017 WAS SAR 152 MILLION AS COMPARED TO SAR 526 MILLION IN CORRESPONDING PERIOD OF LAST YEAR, A DECREASE OF 71.1%. TOTAL COMPREHENSIVE INCOME FOR THE THREE MONTH PERIOD ENDED 30 SEPTEMBER 2017 WAS SAR 152 MILLION AS COMPARED TO SAR 259 MILLION IN PREVIOUS QUARTER OF THE CURRENT YEAR, A DECREASE OF 41.3%. TOTAL EQUITY INCREASED BY 14.6% TO REACH SAR 14.0 BILLION AS OF SEPTEMBER 30, 2017 COMPARED TO SAR 12.2 BILLION AS OF SEPTEMBER 30, 2016. TOTAL EQUITY AS OF SEPTEMBER 30, 2017 INCLUDES SAR 785 MILLION SUBORDINATED TIER 1 SUKUK, 500 MILLION ISSUED IN THE FOURTH QUARTER OF 2016 AND 285 MILION ISSUED IN THE SECOND QUARTER OF 2017.
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