The Saudi Investment Bank Announces the Annual Financial Results for the period ended 31/12/2018
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Revenue for Special Commissions/Investments | 3,633 | 3,370 | 7.804 | ||
| Net Income for Special Commissions/Investments | 2,288 | 2,174 | 5.243 | ||
| Total operation Profit (Loss) | 2,713 | 2,660 | 1.992 | ||
| Net Profit (Loss) | 1,459 | 1,411 | 3.401 | ||
| Total Comprehensive Income | 1,085 | 1,106 | -1.898 | ||
| Total Share Holders Equity (after deducting minority equity) | 11,654 | 13,494 | -13.635 | ||
| Assets | 96,070 | 93,796 | 2.424 | ||
| Investments | 24,638 | 21,714 | 13.465 | ||
| Loans and advances portfolio | 59,413 | 59,588 | -0.293 | ||
| Customer deposits | 63,690 | 66,943 | -4.859 | ||
| Profit (Loss) per Share | 1.86 | 1.83 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current year compared to last year | NET PROFIT INCREASED DUE TO AN INCREASE IN TOTAL OPERATING PROFIT BY 1.99% RESULTING FROM AN INCREASE IN NET INCOME FOR SPECIAL COMMISSIONS, FEE INCOME FROM BANKING SERVICES, AND EXCHANGE INCOME. THIS WAS PARTIALLY OFFSET BY A DECREASE IN DIVIDEND INCOME, FAIR VALUE THROUGH PROFIT AND LOSS (FVTPL), AND GAINS ON INVESTMENTS. ON THE OTHER HAND, OPERATING EXPENSE DECREASED 0.06% PRIMARILY DUE TO A DECREASE IN RENT AND PREMISES RELATED EXPENSES, AND IMPAIRMENT CHARGE FOR EQUITY INVESTMENTS. THIS WAS PARTIALLY OFFSET BY AN INCREASE IN SALARIES AND EMPLOYEE RELATED EXPENSES, DEPRECIATION AND AMORTIZATION, OTHER GENERAL AND ADMINISTRATIVE EXPENSES, AND PROVISIONS FOR CREDIT LOSSES. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in annual financial results | THE PREVIOUS PERIOD NUMBERS HAVE BEEN RECLASSIFIED/ ADJUSTED TO CONFORM TO THE CURRENT PERIOD PRESENTATION. |
| Additional Information | EARNINGS PER SHARE FOR THE YEAR ENDED DECEMBER 31, 2018 WAS SAR 1.86, WHICH WAS CALCULATED BY DIVIDING NET INCOME LESS TIER 1 SUKUK COSTS BY 735 MILLION SHARES REPRESENTING THE WEIGHTED AVERAGE OF THE ISSUED AND OUTSTANDING SHARES AFTER GIVING EFFECT TO THE PURCHASE OF 56,245,350 TREASURY SHARES ON SEPTEMBER 27, 2018. EARNINGS PER SHARE FOR THE YEAR ENDED DECEMBER 31, 2017 WAS SAR 1.83, WHICH WAS CALCULATED BY DIVIDING NET INCOME LESS TIER 1 SUKUK COSTS TIER 1 SUKUK COSTS BY 750 MILLION SHARES. |
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