The combined earnings of Saudi brokerage firms jumped 31 percent year-on-year (YoY) to SAR 463.3 million in Q1 2018, data from the Capital Market Authority (CMA), the Kingdom’s market regulator, showed.
The higher revenue was backed by a YoY increase of 8 percent in revenue to SAR 1.4 billion in the same period.
The number of brokerage firms operating in the Kingdom rose to 84 in Q1 2018 from 83 a year earlier.
|
Income Statement (SAR mln) |
|||
|
Period |
Q1 2017 |
Q1 2018 |
Variation |
|
Revenue |
1,278.2 |
1,381.8 |
+8% |
|
Opex |
895.0 |
876.7 |
(2%) |
|
Operating income |
383.2 |
505.1 |
+32% |
|
Other income |
5.8 |
(8.8) |
(252%) |
|
Profit/loss of minority interest |
13.1 |
0.5 |
(97%) |
|
Net profit |
352.3 |
463.3 |
+31% |
Revenue from asset management jumped 25 percent YoY to SAR 636.3 million in the first quarter. Trading revenue, however, declined 3 percent YoY to SAR 311.9 million.
|
Revenue by Activity (SAR mln) |
|||
|
Period |
Q1 2017 |
Q1 2018 |
Variation |
|
Dealing |
322.4 |
311.9 |
(3%) |
|
Asset management |
509.7 |
636.3 |
+25% |
|
Investment banking |
163.3 |
190.2 |
+17% |
|
Consultations/research |
1.2 |
0.4 |
(71%) |
|
Custody |
30.5 |
39.6 |
+30% |
|
Investment |
112.5 |
136.4 |
+21% |
|
Other revenue |
150.2 |
58.2 |
(61%) |
Combined assets grew by 6 percent YoY to SAR 30.7 billion. Shareholders’ equity remained unchanged at SAR 22 billion during Q1.
|
Balance Sheet (SAR mln) |
|||
|
Period |
Q1 2017 |
Q1 2018 |
Variation |
|
Assets |
28,867.9 |
30,711.1 |
+6% |
|
Liabilities |
6,581.0 |
8,693.9 |
+32% |
|
Capital |
16,513.6 |
15,566.4 |
(6%) |
|
Shareholders’ equity |
22,048.4 |
22,004.1 |
-- |
Brokerage firms completed SAR 487.6 billion worth of transactions in different equity markets in Q1 2018, a drop of 5 percent YoY.
The firms’ transactions accounted for 97.4 percent of total trading activity on the Saudi market.
Labor force in brokerage firms slipped 1 percent YoY to 4,385 persons in the first quarter, with the Saudization rate rising to 75 percent from 70 percent in Q1 2017.
|
Trading Value by Region (SAR mln) |
||
|
Market |
Trading Value |
Percent to total trading value |
|
Local Market |
474,768 |
97.36% |
|
GCC |
764 |
0.16% |
|
Arab countries |
80 |
0.02% |
|
Asia |
6 |
0.00% |
|
US |
11,785 |
2.42% |
|
Europe |
91 |
0.02% |
|
Others |
127 |
0.03% |
|
Total |
487,622 |
100.00% |
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