Reasons of increase (decrease) for quarter compared with same quarter last year |
The increase in net profit was primarily driven by a 5.7% increase in net special commission income and lower operating expenses which decreased by 6.3% mainly due to a decrease in provisions for credit losses and impairment of other financial assets, partially offset by an increase in general and administrative expenses. |
Reason of increase (decrease) for quarter compared with the previous quarter |
The increase in net profit was primarily driven by lower operating expenses which decreased by 29.7% mainly due to a 53% decrease in provisions for credit losses, a 24.5% decrease in general and administrative expenses, and a 2.1% increase in operating income mainly due to an increase in fees and commission income and net special commission income. |
Other notes |
Gross special commission income for the three months period ended 31 March 2018 was SAR 1,544 million as compared to SAR 1,525 million in corresponding period of last year, an increase of 1.2%.
Total comprehensive income for the three months period ended 31 March 2018 was SAR 1,124 million, an increase of 21.6% as compared to SAR 924 million in corresponding period of last year, and an increase of 68.8% as compared to SAR 666 million in the previous quarter.
Total equity as at 31 March 2018 was SAR 31.9 billion compared to SAR 31.9 billion last year. |
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