17/04/2010
- The first quarter net income was SAR 21 million compared to SAR 241 million for the same quarter last year with a decrease of 91%, and compared to a net loss of SAR 109 million for the previous quarter.
- Operating income for the first quarter reached SAR 451 million compared to SAR 318 million for the same quarter last year, an increase of 42%.
- Net special commission income for the first quarter reached SAR 312 million compared to SAR 241 million for the same quarter last year, an increase of 29%.
- Earnings per share reached SAR 0.05 compared to SAR 0.53 for the same period last year.
- Assets as of 31/03/2010 reached to SAR 49,492 million compared to SAR 50,284 million for the same period last year with a decrease of 2%. Investments reached SAR 11,077 million compared to SAR 12,432 million for the same period last year with a decrease of 11%. Loans and advances reached SAR 30,654 million compared to SAR 30,110 for the same period last year with an increase of 2%. Customers’ deposits reached SAR 36,511 million compared to SAR 38,042 for the same period last year with a decrease of 4%.
- The decrease in net income, despite the increase in the operating income and the significant improvement in the net special commission income, was mainly due to the provisions taken during the period to continue supporting the bank’s financial position.
