Reasons of increase (decrease) for quarter compared with same quarter last year |
Net profit for the quarter increased due to the increase in total operating income by 3.6% resulting mainly from the increases in net special commission income and dividend income; offset by decreases in net exchange income, net banking fees and commission income, and gains on non-trading investments, net trading income and other operating income, in addition to the increase in net unrealized losses from FVTPL financial instruments. On the other hand, total operating expenses decreased by 1.4% resulting mainly from the decrease in impairment charges for credit losses and other financial assets, rent and premises related expenses, and depreciation expenses; offset by the increases in salaries and employees related expenses and general and administrative expenses. |
Reason of increase (decrease) for quarter compared with the previous quarter |
The net profit for the quarter increased due to the decrease in total operating expenses by 25.7% due to the decrease in impairment charges for credit losses and other financial assets, salaries and employees related expenses, rent and premises related expenses, depreciation expenses, and general and administrative expenses. On the other hand, total operating income decreased by 3.2% due to the decrease in net exchange income, net special commission income, net banking fees and commission income, gains from non-trading investments, and other operating income; offset by increases in net trading income and dividend income, in addition to the increase in net unrealized losses from FVTPL financial instruments. |
Reclassifications in quarterly financial results |
Certain comparative figures were reclassified / restated to conform to the current year presentation |
Other notes |
The total special commission / financing and investment income for the three-month period ended 31 March 2018 reached SAR 1530.8 million, against SAR 1504.8 million for the same period last year; an increase of 1.7%. The total comprehensive income for the three-month period ended 31 March 2018 reached SAR 892.4 million, against SAR 687.0 million for the same period last year; an increase of 29.9%. The total shareholders equity (excluding the minority interest) for the current period reached SAR 24466 million, against SAR 23319 million for the same period last year, an increase of 4.9%. |
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