Saudi British Bank announces the interim financial results for the period ending on 31-12-2017 (Twelve Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 706 | 607 | 16.31 | 1,083 | -34.81 |
| Total profit (loss) operation income Investments | 1,738 | 1,665 | 4.38 | 1,764 | -1.47 |
| Net profit (loss) special commission income Investments | 1,305 | 1,236 | 5.58 | 1,258 | 3.74 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 3,955 | 3,895 | 1.54 |
| Total profit (loss) operation income Investments | 7,127 | 6,909 | 3.16 |
| Net profit (loss) special commission income Investments | 5,098 | 4,757 | 7.17 |
| Earning or loss per share, Riyals | 2.64 | 2.6 | - |
| Total Assets | 187,615 | 186,056 | 0.84 |
| Investments | 26,977 | 29,273 | -7.84 |
| Loans and advances portfolio | 117,006 | 120,965 | -3.27 |
| Customer deposit | 140,240 | 140,640 | -0.28 |
| 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 4.4% mainly due to higher net special commission income, in addition to decrease in operating expenses by 2.2% mainly due to lower provision for credit losses and impairment of other financial assets, partially offset by an increase in other general and administrative expenses and salaries and employee related expenses. |
| Reasons of increase (decrease) for period compared with same period last year | The increase in net profit was primarily driven by higher operating income which increased by 3.2% mainly due to higher net special commission income, partially offset by a decrease in fees and commission income and exchange income. This increase in operating income has been partially offset by an increase in total operating expenses of 5.3% due to higher provision for credit losses and other general and administrative expenses. |
| Reason of increase (decrease) for quarter compared with the previous quarter | The decrease in net profit was primarily driven by higher operating expenses which increased by 51.3% mainly due to higher provision for credit losses and other general and administrative expenses, in addition to a decrease in operating income driven by lower dividend income, gains on non-trading income and fees and commission income, which was partially offset by an increase net special commission income. |
| Reclassifications in quarterly financial results | Certain prior period 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 31 December 2017 was SAR 1,528 million as compared to SAR 1,596 million in corresponding period of last year, a decrease of 4.2%. Gross special commission income for the year ended 31 December 2017 was SAR 6,051 million as compared to SAR 6,075 million last year, a decrease of 0.4%. Total comprehensive income for the three months period ended 31 December 2017 was SAR 666 million, a decrease of 41.3% as compared to SAR 1,135 million in corresponding period of last year, and a decrease of 34.4% as compared to SAR 1,016 million in the previous quarter. Total comprehensive income for the year ended 31 December 2017 was SAR 3,922 million as compared to SAR 4,279 million last year, a decrease of 8.3%. Total shareholders' equity (excluding minority interest) as at 31 December 2017 was SAR 33.3 billion compared to SAR 31.3 billion last year, an increase of 6.4%. |
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