The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2019 (three months)

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28/04/2019

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

-

 

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.

 

 

The Saudi Investment Bank announces the interim financial results for the period ending on 31-03-2019 (three months)