The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2019 (three months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Revenue for Special Commissions/Investments | 995 | 839.8 | 18.48 | 960.7 | 3.57 |
| Net Income for Special Commissions/Investments | 586.4 | 564.2 | 3.934 | 553.7 | 5.905 |
| Total operation Profit (Loss) | 707.5 | 686.3 | 3.089 | 654.7 | 8.064 |
| Net Profit (Loss) | 359.9 | 361.2 | -0.359 | 374.4 | -3.872 |
| Total Comprehensive Income | 574.2 | 270.1 | 112.587 | -35.9 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 12,129 | 12,936 | -6.238 |
| Assets | 94,832 | 91,531 | 3.606 |
| Investments | 26,093 | 23,144 | 12.741 |
| Loans and advances portfolio | 58,176 | 57,896 | 0.483 |
| Customer deposits | 63,824 | 61,032 | 4.574 |
| Profit (Loss) per Share | 0.5 | 0.48 | |
| All figures are in (Millions) 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 | NET INCOME DECREASED DUE TO AN INCREASE IN TOTAL OPERATING EXPENSES BY 5.1% RESULTING FROM AN INCREASE IN SALARIES AND EMPLOYEE-RELATED EXPENSES, DEPRECIATION AND AMORTIZATION, AND OTHER GENERAL AND ADMINISTRATIVE EXPENSES. THIS WAS OFFSET BY A DECREASE IN RENT AND PREMISES-RELATED EXPENSES, AND PROVISIONS FOR CREDIT AND OTHER LOSSES. ON THE OTHER HAND, TOTAL OPERATING INCOME INCREASED 3.1% PRIMARILY DUE TO AN INCREASE IN NET SPECIAL COMMISSION INCOME, AND FEE INCOME FROM BANKING SERVICES. THIS WAS OFFSET PRIMARILY BY A DECREASE IN EXCHANGE INCOME, AND REALIZED FAIR VALUE THROUGH PROFIT AND LOSS. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | NET INCOME DECREASED DUE TO AN INCREASE IN TOTAL OPERATING EXPENSES BY 18.2% RESULTING FROM AN INCREASE IN RENT AND PREMISES-RELATED EXPENSES, DEPRECIATION AND AMORTIZATION, AND PROVISIONS FOR CREDIT AND OTHER LOSSES. THIS WAS OFFSET PRIMARILY BY A DECREASE IN SALARIES AND EMPLOYEE-RELATED EXPENSES, AND OTHER GENERAL AND ADMINISTRATIVE EXPENSES. ON THE OTHER HAND, TOTAL OPERATING INCOME INCREASED 8.1% PRIMARILY DUE TO AN INCREASE IN NET SPECIAL COMMISSION INCOME, FEE INCOME FROM BANKING SERVICES, AND UNREALIZED FAIR VALUE THROUGH PROFIT AND LOSS. THIS WAS OFFSET BY A DECREASE IN EXCHANGE INCOME, AND REALIZED FAIR VALUE THROUGH PROFIT AND LOSS. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | NONE |
| Reclassifications in quarter financial result | CERTAIN PRIOR PERIOD FIGURES HAVE BEEN RECLASSIFIED TO CONFORM TO THE CURRENT PERIOD PRESENTATION. |
| Additional Information | EARNINGS PER SHARE FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2019 WAS SAR 0.50, WHICH WAS CALCULATED BY DIVIDING NET INCOME LESS TIER 1 SUKUK COSTS BY 693.8 MILLION SHARES REPRESENTING THE WEIGHTED AVERAGE OF THE ISSUED AND OUTSTANDING SHARES AFTER GIVING EFFECT TO THE PURCHASE OF 56.2 MILLION TREASURY SHARES ON SEPTEMBER 27, 2018.
EARNINGS PER SHARE FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2018 WAS SAR 0.48, WHICH WAS CALCULATED BY DIVIDING NET INCOME LESS TIER 1 SUKUK COSTS BY 750 MILLION SHARES. |
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