Saudi British Bank announces the interim financial results for the period ending on 30-06-2018 (Six Months)

25 July 2018 08:51 AM

SAB 1060 4.63% 35.00 1.55

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	1,432	1,129	26.84	1,039	37.82
Total profit (loss) operation income Investments	1,879	1,801	4.33	1,774	5.92
Net profit (loss) special commission income Investments	1,391	1,284	8.33	1,323	5.14
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	2,471	2,165	14.13
Total profit (loss) operation income Investments	3,653	3,625	0.77
Net profit (loss) special commission income Investments	2,713	2,535	7.02
Earning or loss per share, Riyals	1.65	1.44	-
Total Assets	183,013	182,519	0.27
Investments	32,281	21,317	51.43
Loans and advances portfolio	113,362	117,883	-3.84
Customer deposit	132,931	138,314	-3.89
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 33.7% decrease in operating expenses mainly due to a decrease in provisions for credit losses and a 4.4% increase in operating income mainly due to an increase in net special commission income, partially offset by a decrease in trading income.
Reasons of increase (decrease) for period compared with same period last year	The increase in net profit was primarily driven by a 19.0% decrease in operating expenses mainly due to a decrease in provisions for credit losses and impairment of other financial assets and a 0.8% increase in operating income mainly due to an increase in net special commission income, partially offset by a decrease in trading income and fees and commission income.
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 39.1% mainly due to a decrease in provisions for credit losses and a 6.0% increase in operating income mainly due to increase in net special commission income and dividend income.
Reclassifications in quarterly financial results	None.
Other notes	Gross special commission income for the three months period ended 30 June 2018 was SAR 1,631 million as compared to SAR 1,507 million in corresponding period of last year, an increase of 8.2%. Gross special commission income for the period ended 30 June 2018 was SAR 3,175 million as compared to SAR 3,032 million last year, an increase of 4.7%. Total comprehensive income for the three months period ended 30 June 2018 was SAR 1,673 million, an increase of 27.1% as compared to SAR 1,316 million in corresponding period of last year, and an increase of 48.8% as compared to SAR 1,124 million in the previous quarter. Total comprehensive income for the period ended 30 June 2018 was SAR 2,796 million as compared to SAR 2,240 million last year, an increase of 24.8%. Total shareholders' equity as at 30 June 2018 was SAR 32.8 billion compared to SAR 32.7 billion last year, an increase of 0.3%. Financial statements for the period ended 30 June 2018 include an unqualified auditors' review report.

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