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

19/05/2020 Argaam Exclusive

View other reports

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 %)

Item	Q4 2019	Q1 2020	Change‬
Net Special Commission Income	570.69	582.71	2.1 %
Operating Income	713.59	717.72	0.6 %
Debt Provisions	(448.28)	(224.98)	49.8 %
Net Income	(69.18)	150.71	317.9 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	(0.06)	0.12	317.9 %

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 %

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.

×