The Saudi National Bank announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 6,918 | 4,900 | 41.183 | 6,694 | 3.346 |
| Net Income from Special Commissions/Financing & Investments | 6,085 | 4,178 | 45.643 | 6,077 | 0.131 |
| Total Operation Profit (Loss) | 8,065 | 5,719 | 41.021 | 7,275 | 10.859 |
| Net Profit (Loss) before Zakat and Income Tax | 5,158 | 3,817 | 35.132 | 3,897 | 32.358 |
| Net Profit (Loss) | 4,502 | 3,408 | 32.1 | 3,357 | 34.107 |
| Total Comprehensive Income | 2,518 | 2,089 | 20.536 | 2,302 | 9.383 |
| 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) | 164,573 | 83,460 | 97.187 |
| Assets | 921,565 | 599,567 | 53.705 |
| Investments | 242,082 | 149,662 | 61.752 |
| Loans and Advances Portfolio (Financing & Investment) | 512,898 | 356,720 | 43.781 |
| Clients' deposits | 604,963 | 419,430 | 44.234 |
| Profit (Loss) per Share | 0.98 | 1.1 | |
| 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 | The net income attributable to equity holders increased by 32% driven by higher total operating income.
Total operating income increased by 41% mainly due to higher net special commission income, fees from banking services, foreign exchange income, and lower other operating expenses.
Total operating expenses including net impairment charge for expected credit losses were higher by 52% mainly due to higher salaries and employee-related expenses, rent and premises-related expenses, depreciation/amortisation of property, equipment, software, right of use assets, amortization of intangible assets, other general and administrative expenses, and net impairment charge for expected credit losses. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | 34% higher net income driven from higher total operating income and lower operating expense including net impairment charge for expected credit losses.
Total operating income increased by 11% mainly due higher fees from banking services, investment income*, and lower other operating expenses.
Total operating expenses including net impairment charge for expected credit losses. were lower by 13% mainly due to lower salaries and employee-related expenses, rent and premises related expenses and other general and administrative expenses. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| 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 385Mn for the current period against SAR 286Mn in the similar period of the previous year with an increase of 34%.
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 4,437,948k (2021: 2,992,891k).
*Investment related income includes Income from FVIS instruments, and Gains on non-FVIS financial instruments. |
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