Combined profit of Saudi brokerage firms surges 97% in Q3

The combined net profit of Saudi brokerage firms nearly doubled in Q3 2017, leaping 97 percent year-on-year (YoY) to SAR 346.7 million, a report by the Capital Market Authority (CMA) showed.

The profit hike came as revenue increased 12 percent YoY to SAR 1.1 billion in the same period.

Data showed that the number of authorized brokerage firms operating in the Kingdom decreased to 82 from 83 in Q3 2016.

Income Statement (SAR mln)
Period	Q3 2016	Q3 2017	Variation
Revenue	1,023.9	1,144.0	+12%
Opex	821.4	798.9	(3%)
Operating income	201.5	345.2	+71%
Other income	0.1	15.6	--
Profit/loss of minority interest	(18.7)	(1.3)	(93%)
Net profit	176.2	346.7	+97%

Combined assets decreased 2 percent YoY to SAR 28.2 billion.

Shareholders’ equity edged up 0.3 percent YoY to SAR 21.7 billion in Q3.

Balance Sheet (SAR mln)
Period	Q3 2016	Q3 2017	Variation
Assets	28,763.8	28,222.9	(2%)
Liabilities	6,833.0	6,461.4	(5%)
Capital	16,071.2	15,610.7	(3%)
Shareholders’ equity	21,614.6	21,688.9	--

Brokerage firms completed around SAR 351.8 billion worth of transactions during the third quarter, up 2 percent YoY.

Their transactions accounted for 97.3 percent of total trading activity on the Saudi market.

Trading Value by Region (SAR mln)
Market	Trading Value	Percent to total trading value
Local Market	342,138	97.27%
GCC	635	0.18%
Arab countries	39	0.01%
Asia	5	0.00%
US	8,497	2.42%
Europe	51	0.01%
Others	392	0.11%
Total	351,757	100.00%

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