Saudi British Bank (SABB) reported a decline of 8% year-on-year (YoY) in net profit to SAR 1.022 billion for Q1 2020, compared to SAR 1.106 billion in year-earlier period.
The drop was attributed to higher operating expenses on Alawwal Bank merger, and higher credit loss provisions.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,486.94 | 1,902.58 | 28.0 % |
| Operating Income | 1,970.01 | 2,368.89 | 20.2 % |
| Debt Provisions | (90.78) | (239.07) | (163.4 %) |
| Net Income | 1,108.55 | 975.59 | (12.0 %) |
| Average Shares | 1,916.10 | 2,054.80 | 7.2 % |
| EPS (Riyals) | 0.58 | 0.47 | (17.9 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Special Commission Income | 1,998.49 | 1,902.58 | (4.8 %) |
| Operating Income | 2,563.05 | 2,368.89 | (7.6 %) |
| Debt Provisions | (636.70) | (239.07) | 62.5 % |
| Net Income | 660.10 | 975.59 | 47.8 % |
| Average Shares | 1,916.10 | 2,054.80 | 7.2 % |
| EPS (Riyals) | 0.34 | 0.47 | 37.8 % |
When compared to Q4 2019, net profit climbed 13.7%, driven by a decline in credit loss provisions and operating expenses.
| Item | 3m 2019 | 3m 2020 | Change |
|---|---|---|---|
| Assets | 173.78 | 265.69 | 52.9 % |
| Customer Deposits | 127.24 | 188.28 | 48.0 % |
| Loan | 110.36 | 155.18 | 40.6 % |
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