| Reasons of increase (decrease) for quarter compared with same quarter last year |
Net income has increased by 14% mainly due to increase in operating income by 7%. This is mainly due to increase in net special commission income, net exchange income and net trading income against a decrease in net banking fee. For operating expenses there is an increase of 3% mainly due to increase in other general and administrative expenses, salaries and employee-related expenses, other operating expenses and depreciation and amortization expenses against a decrease in the net impairment charge for credit losses. |
| Reason of increase (decrease) for quarter compared with the previous quarter |
Net income has increased by 27% mainly due to a reduction in operating expenses by 9%. This is mainly attributable to decrease in net impairment charge for credit losses, rent and premises related expenses and other general and administrative expenses against an increase in salaries and employee-related expenses and Other Operating expenses. Also the operating income has increased by 1% mainly due to increase in net special commission income and net trading income. |
| Reclassifications in quarterly financial results |
Some items have been re-classified |
| Other notes |
1- Total Special commission income during current quarter is SR 631 million compared to SR 613 million in similar quarter of previous year, an increase of 3%.
2- Total comprehensive income for the three months period ended 31 March 2018 is SR 298 million as compared to SR 231 million in comparative period, an increase of 29%. And as compared to SR 225 million in the previous quarter with an increase of 32%.
3- Total equity (there is no minority interest) as of end of the current period is SR 8,470 million compared to SR 8,327 million at the end of similar period of previous year. An increase of 2%. |
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