Alawwal Bank Announces the Interim Financial Results for the Period Ending on 31-03-2018 (Three Months)

08 May 2018 03:22 PM

Alawwal Bank 1040 1.45% 19.58 0.28

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	286.1	324	-11.7	326.5	-12.37
Total profit (loss) operation income Investments	860.1	919.6	-6.47	924.9	-7.01
Net profit (loss) special commission income Investments	670.1	646	3.73	706.4	-5.14
Earning or loss per share, Riyals	0.25	0.28	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Total Assets	88,803.4	100,369	-11.52
Investments	16,648.6	15,717.2	5.93
Loans and advances portfolio	60,760.3	70,481.3	-13.79
Customer deposit	70,501.6	80,297	-12.2
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Net profit for the quarter decreased due to lower total operating income which decreased by 6.5% mainly due to decrease in fee and commission income, gains on non-trading investments, trading income, foreign exchange income and an increase in loss on Fair Value Through Profit and Loss (FVTPL) financial instruments , partially offset by an increase in net special commission income. Total operating expenses decreased by 3.8%, mainly due to decrease in impairment charge for credit losses, general and administrative expenses and an increase in impairment reversal for other financial assets, partially offset by an increase in depreciation and amortization, salaries and employee related expenses and rent and premises-related expenses.
Reason of increase (decrease) for quarter compared with the previous quarter	Net profit for the quarter decreased due to lower total operating income, which decreased by by 7.0% mainly due to decrease in net special commission income, fee and commission income, exchange income and an increase in loss on FVTPL financial instruments, partially offset by an increase in trading income. Total operating expenses decreased by 3.7% mainly due to decrease in impairment charge for credit losses, depreciation and amortization, salaries and employee-related expenses and an increase in impairment reversal for other financial assets, partially offset by an increase in rent and premises-related expenses and general and administrative expenses.
Other notes	Gross Special commission income for the period ended March 31, 2018 amounted to SAR 898.8 million as compared to SAR 994.7 million for the comparative period, showing a decrease of 9.6%. Total comprehensive income for the period ended 31 March 2018 stood at SAR 285.3 million as compared to SAR 293.2 million for the comparative period, showing a decrease of 2.7% and compared to SAR 327.1 million for the previous quarter, showing a decrease of 12.8%. Total shareholders' equity (there are no minority rights) as at March 31, 2018 was SAR 13.2 billion compared to SAR 12.9 billion for the comparative period, showing an increase of 2.2%.

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