BANQUE SAUDI FRANSI ANNOUNCES ITS 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 | 1,846 | 1,607 | 14.872 | 1,832 | 0.764 |
| Net Income for Special Commissions/Investments | 1,273 | 1,256 | 1.353 | 1,247 | 2.085 |
| Total operation Profit (Loss) | 1,723 | 1,744 | -1.204 | 1,693 | 1.772 |
| Net Profit (Loss) | 1,126 | 1,112 | 1.258 | 269 | 318.587 |
| Total Comprehensive Income | 1,655 | 955 | 73.298 | 683 | 142.313 |
| 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) | 32,198 | 31,694 | 1.59 |
| Assets | 189,990 | 184,018 | 3.245 |
| Investments | 33,683 | 27,428 | 22.805 |
| Loans and advances portfolio | 121,274 | 123,883 | -2.106 |
| Customer deposits | 144,820 | 141,944 | 2.026 |
| Profit (Loss) per Share | 0.94 | 0.93 | |
| 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 increased due to decrease in Total Operating Expenses by 6.1%.This decrease in Total Operating Expenses was primarily due to reduction in salaries and employee related expenses, rent and premises, other operating expenses and other general and administrative expenses which was partially offset by increase in impairment charge for credit losses and depreciation and amortization.
Total Operating Income decreased by 1.2% driven by higher fee and commission income, trading income and net special commission income which was offset by an exceptional gain of SAR 97.3 million on partial sale of Allianz Saudi Fransi recognized last year. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Net Income increased due to decrease in Total Operating Expenses by 58.12%. This decrease in Total operating expenses was primarily due to lower Impairment charge for credit losses and Impairment charge for other financial assets.
While, Total Operating Income also increased by 1.77% mainly due to higher net special commission income, fee and commission income and gain on non-trading investments which was partially offset by a reduction in exchange income and other operating income. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | None |
| Reclassifications in quarter financial result | Certain prior period numbers have been restated to conform to the current period presentation. |
| Additional Information | EPS for the current and the previous years are calculated by dividing the net income for the periods by the weighted average number of shares outstanding after excluding treasury shares. |
Comments