SABB profit drops 8% to SAR 1.02 bln in Q1 2020

17/05/2020 Argaam Exclusive

Saudi British Bank (SABB) reported a decline of 8% year-on-year (YoY) in net profit to SAR 1.022 billion for Q1 2020, compared to SAR 1.106 billion in year-earlier period.

 

The drop was attributed to higher operating expenses on Alawwal Bank merger, and higher credit loss provisions.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Net Special Commission Income 1,486.94 1,902.58 28.0 %
Operating Income 1,970.01 2,368.89 20.2 %
Debt Provisions (90.78) (239.07) (163.4 %)
Net Income 1,108.55 975.59 (12.0 %)
Average Shares 1,916.10 2,054.80 7.2 %
EPS (Riyals) 0.58 0.47 (17.9 %)

When compared to Q4 2019, net profit climbed 13.7%, driven by a decline in credit loss provisions and operating expenses.

Balance Sheet (B)

Item 3m 2019 3m 2020 Change‬
Assets 173.78 265.69 52.9 %
Customer Deposits 127.24 188.28 48.0 %
Loan 110.36 155.18 40.6 %

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Share Price

Saudi Awwal Bank
31.50
(0.20) (0.63 %)

Saudi Awwal Bank (SAB)

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Financial Ratios
Current
Market Cap (M Riyal) 64,520.72
Shares Outstanding ((M)) 2,054.80
EPS ( Riyal) (TTM) 3.80
EPS Diluted ( Riyal) (TTM) 3.68
Book Value (BV) ( Riyal) 29.29
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.27
P/E (TTM) 8.27
Price/book 1.07
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 13.5
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