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Saudi British Bank announces the interim financial results for the period ending on 31-03-2018 (Three Months)

SAB 1060 18.57% 41.50 6.50
Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 1,039 1,036 0.29 706 47.17
Total profit (loss) operation income Investments 1,774 1,824 -2.74 1,738 2.07
Net profit (loss) special commission income Investments 1,323 1,251 5.76 1,305 1.38
Earning or loss per share, Riyals 0.69 0.69 - - -
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Total Assets 182,622 185,264 -1.43
Investments 31,781 23,833 33.35
Loans and advances portfolio 116,495 119,490 -2.51
Customer deposit 135,392 141,571 -4.36
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 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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