Net profit (loss) special commission income Investments
1,541
1,325
16.3
1,447
6.5
All figures are in (Millions) Saudi Arabia, Riyals
Element
Current period
Similar period for previous year
% Change
Net profit (loss)
5,024
5,006
0.36
Total profit (loss) operation income Investments
7,892
7,760
1.7
Net profit (loss) special commission income Investments
5,732
5,382
6.5
Earning or loss per share, Riyals
2.51
2.5
-
Total Assets
227,611
231,489
-1.68
Investments
63,912
51,393
24.36
Loans and advances portfolio
117,685
125,234
-6.03
Customer deposit
167,988
172,076
-2.38
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 increased by 11.4% due to increase in total Operating Income by 6.0% which is mainly due to increase in Net Special Commission Income by 16.3%, increase in FVIS income, Gains on Non Trading investments and Other Operating Income. This was offset by decrease in fee from banking services, Exchange income and Trading income. Total Operating Expenses also reduced by 2.4%.
Reasons of increase (decrease) for period compared with same period last year
The Net Income decreased as a result of lower operating income which decreased by 5.8%. The decrease in total Operating income is attributed to decrease in Fee from banking services, FVIS Income, Trading income, Gains on Non Trading investments and Other Operating Income. The decrease was offset by increase in net Special Commission Income, foreign exchange income and decrease in total Operating Expenses.
Reason of increase (decrease) for quarter compared with the previous quarter
The Net Income has increased due to increase in total Operating Income which is mainly due to increase in Net Special Commission income, FVIS income, Trading income and Other operating income. This was offset by decrease in fee from banking services, exchange income and gains on non-trading investments. The total operating expenses also increased 4.1% due to increase in credit costs and other general and administrative expenses for the year.
Reclassifications in quarterly financial results
Some numbers have been restated.
Other notes
Gross Special Commission Income increased by 1.4% to SAR 1,822 million during fourth quarter of 2017, compared to SAR 1,796 million for the same quarter in 2016. Gross Special Commission Income increased by 3.5% to SAR 6,928 million for the twelve months of 2017, compared to SAR 6,692 million for the same period of the last year. Total comprehensive income for the three months period ended 31 Dec 2017 was SAR 1,182 million as compared to SAR 1,645 million in corresponding period of last year, a decrease of 28.1% and compared to 1,395 million in the previous quarter with an decrease 15.3%.Total comprehensive income for the twelve months ended 31 Dec 2017 was SAR 5,196 million as compared to SAR 4,711 million in last year, an increase of 10.3%. Total Shareholders Equity (excluding minority rights) reached to SAR 44,583 million as of 31 Dec 2017 compared to SAR 42,443 million as of 31 Dec 2016, an increase of 5.0%.
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