Reasons of increase (decrease) for quarter compared with same quarter last year |
Net income increased due to the increase in total operating income by 22%, mainly due to the increase in income from Financing and investments, fee from banking services and dividend income. On the other hand, the total operating expenses increased by 17% mainly due to increase in provisions for impairment of Financing, employee costs and General and Administrative expenses due to increase in number of branches. |
Reasons of increase (decrease) for period compared with same period last year |
Net income increased due to the increase in total operating income by 16%, mainly due to the increase in income from Financing and investments in addition to fee from banking services and dividend income. On the other hand, the total operating expenses increased by 4% due to increase in General and Administrative and employee costs, while depreciation and provision for impairment of investments decreased. |
Reason of increase (decrease) for quarter compared with the previous quarter |
Net income increased due to the increase in total operating income by 11%, mainly due to the increase in fee from banking services, income from Financing and investments, and dividends. On the other hand, the total operating expenses increased by 14% mainly due to increase in provisions for impairment of Financing. |
External auditor's report containing reservation |
None |
Reclassifications in quarterly financial results |
The previous period numbers have been reclassified to conform current period presentation. |
Other notes |
Gross financing and investment income for the six months period ended 30 June 2018 was SAR 2,299 million as compared to SAR 2,029 million last year, an increase of 13%.Gross financing and investment income for the three months period ended 30 June 2018 was SAR 1,186 million as compared to SAR 1,021 million in corresponding period of last year and compared to SAR 1,113 million for the last quarter, an increase of 16% and 7% respectively.Total comprehensive income for the six months period ended 30 June 2018 was SAR 1,189 million as compared to SAR 917 million last year, an increase of 30%.Total comprehensive income for the three months period ended 30 June 2018 was SAR 616 million as compared to SAR 462 million in corresponding period of last year, and SAR 572 million for last quarter, an increase of 33% and 8% respectively.Total shareholders equity there are no minority rights as at 30 June 2018 was SAR 19.6 billion compared to SAR 19.3 billion for same period of last year, an increase of more than 2%. For calculation of earning per share, 10 million treasury shares have been excluded. |
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