The Saudi National Bank announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 4,901 | 5,042 | -2.796 | 5,123 | -4.333 |
| Net Income from Special Commissions/Financing & Investments | 4,179 | 4,157 | 0.529 | 4,689 | -10.876 |
| Total Operation Profit (Loss) | 5,773 | 5,305 | 8.821 | 5,749 | 0.417 |
| Net Profit (Loss) before Zakat and Income Tax | 3,817 | 3,211 | 18.872 | 3,765 | 1.381 |
| Net Profit (Loss) | 3,408 | 2,834 | 20.254 | 3,360 | 1.428 |
| Total Comprehensive Income | 2,089 | -1,138 | - | 4,096 | -48.999 |
| 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) | 83,460 | 63,713 | 30.993 |
| Assets | 599,570 | 534,560 | 12.161 |
| Investments | 149,662 | 133,000 | 12.527 |
| Loans and Advances Portfolio (Financing & Investment) | 356,720 | 304,767 | 17.046 |
| Clients' deposits | 419,430 | 375,053 | 11.832 |
| Profit (Loss) per Share | 1.1 | 0.91 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Higher Net income by 20.3% derived from higher Total operating income and lower total operating expense including impairments, partially offset by higher other non operating expense.
Total operating income increased by 8.8% mainly due to higher net special commission income, Investment related income* and higher Fees from banking services, Foreign exchange income, partially offset by higher other operating expenses.
Total operating expenses including impairments were lower by 8.9% mainly due to lower Salaries and employees related expense, other general and administrative expenses and net impairment charge for expected credit losses partially offset by higher Rent and premises - related expense, Depreciation/amortization of property, equipment, software and ROU assets. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | 1.4% higher net income derived from higher total operating income and lower total operating expense including impairments, partially offset by higher other non operating expense.
Total operating income increased by 0.4 % mainly from higher fees from banking and services, foreign exchange income and investment related income* . These were partially offset by lower net special commission income and higher other operating (expense).
Total operating expenses including impairments were lower by 4.2% mainly due to lower net impairment charge for expected credit losses, Salaries and employees related expense, Rent and premises related expense and Depreciation/amortization of property, equipment, software and ROU assets, partially offset by higher other general and administrative expenses. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Some numbers have been re-classified for comparative reasons. |
| Additional Information | Net impairment charge for expected credit losses reached to SAR 280Mn for the current period against SAR 396Mn in the similar period of the previous year with a decrease of 29%.
EPS for the current and the previous year 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 2,990,418k (2020: 2,994,204k).
*Investment related income includes Income from FVIS instruments, and Gains on non-FVIS financial instruments. |
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