SABB net profit falls slightly to SAR 970 mln in Q1 2021

29/04/2021 Argaam Exclusive

View other reports

Saudi British Bank (SABB) reported a marginal decline in net profit to SAR 970 million for Q1 2021, compared to SAR 971 million in the year-earlier period.

The slight fall in profit resulted from a decrease in total operating income mainly driven by lower net special commission income. However, it was partially offset by a lower provision for expected credit losses, total operating expenses and a higher share of earnings of associates.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2020	Q1 2021	Change‬
Net Special Commission Income	1,902.58	1,426.82	(25.0 %)
Operating Income	2,368.89	2,021.53	(14.7 %)
Debt Provisions	(239.07)	(1.67)	99.3 %
Net Income	975.59	973.71	(0.2 %)
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.47	0.47	(0.2 %)
EPS Diluted (Riyal)	0.47	0.47	0.0 %

Item	Q4 2020	Q1 2021	Change‬
Net Special Commission Income	1,497.43	1,426.82	(4.7 %)
Operating Income	2,049.61	2,021.53	(1.4 %)
Debt Provisions	(31.98)	(1.67)	94.8 %
Net Income	681.88	973.71	42.8 %
Average Shares	2,054.80	2,054.80	-
EPS (Riyals)	0.33	0.47	42.8 %
EPS Diluted (Riyal)	0.33	0.47	42.4 %

When compared to Q4 2020, net profit surged 42% on the back of lower total operating expenses and a decline in provision for expected credit losses.

Shareholders’ equity, excluding minority interest, fell by 6.5% to SAR 51.93 billion by the end of Q1 2021, compared to SAR 55.55 billion in the year-ago period.

Balance Sheet (B)

Item	3m 2020	3m 2021	Change‬
Assets	265.69	271.56	2.2 %
Customer Deposits	188.28	183.69	(2.4 %)
Loan	155.18	156.71	1.0 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×