The National Commercial Bank announces its interim financial results for the period ending on 2019-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Revenue for Special Commissions/Investments | 4,863,416 | 4,227,522 | 15.041 | 4,935,982 | -1.47 |
| Net Income for Special Commissions/Investments | 3,561,669 | 3,418,573 | 4.185 | 3,740,781 | -4.788 |
| Total operation Profit (Loss) | 4,952,758 | 4,779,241 | 3.63 | 4,755,830 | 4.14 |
| Net Profit (Loss) | 3,164,699 | 2,986,877 | 5.953 | 2,647,300 | 19.544 |
| Total Comprehensive Income | 3,937,472 | 2,477,069 | 58.956 | 2,247,736 | 75.175 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 67,938,852 | 63,683,664 | 6.681 |
| Assets | 466,347,603 | 438,895,556 | 6.254 |
| Investments | 123,419,234 | 113,555,101 | 8.686 |
| Loans and advances portfolio | 268,656,789 | 252,776,847 | 6.282 |
| Customer deposits | 309,661,054 | 309,000,832 | 0.213 |
| Profit (Loss) per Share | 1.02 | 0.97 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Higher net income derived from higher total operating income.
Total operating income increased by 3.6% mainly due to the increase in net special commission income, investment related income and lower other operating (expense),partially offset by lower fees income from banking services and exchange income.
Total operating expenses were higher by 0.7% mainly due to the increase in net impairment charges for financing and advances, depreciation/amortisation of property, equipment and software, and other general and other administrative expenses, while rent and premises-related expenses, salaries and employee-related expenses as well as net impairment charges on investments decreased. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Higher net income derived from higher Total operating income and lower operating expenses.
Total operating income increased by 4.1% mainly due to the increase in investment related income and lower other operating (expense), partially offset by lower net special commission income, fees income from banking services and exchange income.
Total operating expenses were lower by 15% mainly due to lower net impairment charge for financing and advances losses, and lower net impairment charge for goodwill, partially offsets by an increase in salaries and employee-related expenses, and other general and other administration expenses. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | None |
| Reclassifications in quarter financial result | Some numbers have been re-classified for comparative reasons. |
| Additional Information | Net impairment charge for financing and advances reached to SAR 144Mn for the current period against SAR (-2Mn) in the similar period of the previous year with an increase of 147Mn.
EPS for the current and the previous years are calculated by dividing the net income attributable to common equity holders of the bank (adjusted for Tier 1 Sukuk costs) for the periods by the weighted average number of shares outstanding 2,992,064k (2018: 2,990,648k).
*Investment related income includes Income from FVIS instruments, Dividend Income and Gains on non-FVIS financial instruments. |
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