Al Rajhi Bank announces the interim financial results for the period ending on 30-09-2017 (Nine Months)
10/22/2017 10:32:36 AM
Tadawul
ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 2,265 2,009 12.74 2,182 3.8
Total profit (loss) operation income\ Investments 3,976 3,878 2.53 3,877 2.55
Net profit (loss) special commission income\ Investments 3,032 2,914 4.05 2,954 2.64
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 6,668 6,079 9.69
Total profit (loss) operation income\ Investments 11,706 11,529 1.54
Net profit (loss) special commission income\ Investments 8,872 8,302 6.87
Earning or loss per share, Riyals 4.1 3.74 -
Total Assets 338,030 330,516 2.27
Investments 35,692 33,753 5.74
Loans and advances portfolio 233,181 225,863 3.24
Customer deposit 270,102 272,600 -0.92
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net income increased due to an increase in total operating income by 2.5%, mainly due to an increase in net income from financing and investments by 4%in addition an increase in fee from banking services by 2.2%. In opposite, Other operating income decreased by 47% and the total operating expenses decreased by 8.4%, mainly due to the decrease in impairment charge for financing 24.3% and salary expenses by 3.8%.
Reasons of increase (decrease) for period compared with same period last year Net income increased due to an increase in total operating income by 1.5%, mainly due to an increase in net income from financing and investments by 6.9% in addition an increase in other operating income by 22.9%. In opposite, the income from banking services decrease by 15.1% and the total operating expenses decreased by 7.6%, mainly due to decreased in impairment charge for financing by 27.3%.
Reason of increase (decrease) for quarter compared with the previous quarter Net income increased due to an increase in total operating income by 2.6%, mainly due to an increase in net income from financing and investments by 2.6%, in addition an increase in fee from banking services by 10.3%. In opposite, the income from other operating income decreased by 47.6% and the total operating expenses increased by 0.9%, mainly due to an increase in rent and general expenses and the salary expenses.
Reclassifications in quarterly financial results Some items have been re-classified
Other notes Gross financing and investment income for the nine months period ended 30 September 2017 was SAR 9,300 million as compared to SAR 8,666 million last year, an increase of 7.3%. Gross financing and investment income for the three months period ended 30 September 2017 was SAR 3,178 million as compared to SAR 3,075 million for corresponding period of last year, an increase of 3.4%. Total comprehensive income for the nine months period ended 30 September 2017 was SAR 6,603 million as compared to SAR 6,065 million last year, an increase of 8.9%. Total comprehensive income for the three months period ended 30 September 2017 was SAR 2,256 million as compared to SAR 1,954 million for corresponding period for last year, an increase of 15.5% and compared to SAR 2,206 million for the three months ended 30, June 2017, an increase of 2.3%. Total shareholders equity (there are no minority rights) as at 30 September 2017 was SAR 53.4 billion compared to SAR 49.8 billion last year, an increase of 7.2%.