Logo of the Capital Market Authority (CMA)
The combined profit of capital market institutions in Saudi Arabia declined by 3% to SAR 2.05 billion in Q2 2024, from SAR 2.12 billion in the year-earlier period, the Capital Market Authority (CMA) said in a recent report.
Revenues rose 27% to SAR 4.1 billion in Q2 2024, from SAR 3.23 billion in Q2 2023. Other revenues logged losses of SAR 23.6 million, against SAR 487.3 million profit in the year-earlier period.
The number of capital market institutions rose to 141 in Q2 2024, from 127 in Q2 2023.
The table below shows the aggregate profit of capital market institutions in Q2 2024:
|
Combined Income Statement in Q2 2024 (SAR mln) |
|||
|
Period |
Q2 2023 |
Q2 2024 |
Change |
|
Revenue |
3237.0 |
4105.1 |
+27% |
|
Opex |
1468.1 |
1836.0 |
+25% |
|
Operating Income |
1769.0 |
2269.1 |
+28% |
|
Other Revenues |
487.3 |
(23.6) |
(105%) |
|
Zakat & Tax |
130.8 |
191.6 |
+47% |
|
Income/Loss for Non-Controlling Stakes |
(0.5) |
(1.9) |
(260%) |
|
Net Profit |
2125.9 |
2055.7 |
(3%) |
Revenues from dealings rose 22% to SAR 603.7 million in Q2 2024, compared to nearly SAR 495 million a year earlier. Investment banking also climbed 66% to SAR 406.2 million, from SAR 245.3 million a year ago. Asset management revenues increased 22% year-on-year (YoY) to SAR 1.279 billion in Q2 2024.
Meanwhile, investments were down 15% YoY to SAR 1.20 billion in the three-month period.
The following table indicates revenues of capital market institutions by activity in Q2 2024:
|
Revenues by Activity in Q2 2024 (SAR mln) |
|||
|
Period |
Q2 2023 |
Q2 2024 |
Change |
|
Dealing |
495.0 |
603.7 |
+22% |
|
Asset Management |
1050.5 |
1279.8 |
+22% |
|
Investment Banking |
245.3 |
406.2 |
+66% |
|
Advisory/Research |
82.8 |
172.8 |
+109% |
|
Custody |
151.3 |
167.1 |
+10% |
|
Investments |
1427.5 |
1209.3 |
(15%) |
|
Other Revenues |
271.5 |
240.8 |
(11%) |
|
Total |
3723.8 |
4079.6 |
+10% |
The aggregate balance sheet of capital market institutions showed that combined assets grew by 29% to nearly SAR 73.3 billion in Q2 2024, compared to SAR 56.8 billion in Q2 2023. Liabilities also rose by 69% YoY to SAR 16.5 billion.
Shareholders’ equity increased 13% YoY to SAR 42.4 billion in the second quarter, as indicated in the table below:
|
Statement of Financial Position in Q2 2024 (SAR mln) |
|||
|
Period |
Q2 2023 |
Q2 2024 |
Change |
|
Assets |
56827 |
73250 |
+29% |
|
Liabilities |
16473 |
27794 |
+69% |
|
Capital |
17661 |
17400 |
(1%) |
|
Shareholders’ Equity |
40308 |
45423 |
+13% |
The value of buy-and-sell dealings executed by capital market institutions in the equity markets rose by 35% to about SAR 962.2 billion in Q2 2024 from SAR 715.1 billion the year before.
Dealings carried out by capital market institutions in the Saudi market accounted for almost 93.57% of total trades. Dealings in the US markets made up 6.09% of total trades, with the remaining across other markets.
The table below shows the geographical distribution of traded value in equity markets in Q2 2024:
|
Trading Value by Region (Sell/Buy) |
||
|
Area |
Trading Value (SAR mln) |
% to Total Traded Value |
|
Local Market |
900,353 |
93.57% |
|
GCC Markets |
1,169 |
0.12% |
|
Arab Markets |
25 |
0.00% |
|
Asian Markets |
478 |
0.05% |
|
US Markets |
58,559 |
6.09% |
|
European Markets |
117 |
0.01% |
|
Other |
1,522 |
0.16% |
|
Total |
962,224 |
100.00% |
Capital market institutions are licensed by the CMA to carry out capital market dealings as a principal, agent or underwriter, or manage investment funds and client portfolios or conduct arranging, advisory and custody activities.
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