SAIB posts 46.4% profit drop to SAR 150.7 mln in Q1 2020

19/05/2020 Argaam Exclusive

Saudi Investment Bank (SAIB) reported a 46.4% year-on-year (YoY) slump in Q1 2020 net profit to SAR 150.7 million, compared to SAR 281.4 million in year-earlier period.

 

The drop was attributed to higher operating expenses, provisions for credit and other losses, as well as the expenses of salaries, employees, rent and premises.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Net Special Commission Income 581.08 582.71 0.3 %
Operating Income 702.19 717.72 2.2 %
Debt Provisions (77.22) (224.98) (191.3 %)
Net Income 281.45 150.71 (46.5 %)
Average Shares 1,250.00 1,250.00 -
EPS (Riyals) 0.23 0.12 (46.5 %)

The bank swung to net profit, compared to a net loss of SAR 69.2 million in Q4 2019, driven by a decline in operating expenses, provisions for credit and other losses, as well as the expenses of salaries, employees, rent and premises.

 

Operating income also increased by 0.6% primarily due to higher net special commission income, fee income from banking services, exchange income, dividend income, and gains on FVOCI debt securities.

Balance Sheet (B)

Item 3m 2019 3m 2020 Change‬
Assets 94.83 100.80 6.3 %
Customer Deposits 63.82 67.64 6.0 %
Loan 58.18 59.88 2.9 %

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Share Price

Saudi Investment Bank
13.10
(0.04) (0.30 %)

Saudi Investment Bank (SAIB)

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Financial Ratios
Current
Market Cap (M Riyal) 16,375.00
Shares Outstanding ((M)) 1,250.00
EPS ( Riyal) (TTM) 1.52
EPS Diluted ( Riyal) (TTM) 1.39
Book Value (BV) ( Riyal) 12.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.65
P/E (TTM) 8.65
Price/book 1.07
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 13.0
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