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    1060   SA0007879089

THE SAUDI BRITISH BANK

(1060)
  Report
End-of-day quote. End-of-day quote Saudi Arabian Stock Exchange - 01/17
38.75 SAR   -0.77%
2021An unknown buyer agreed to acquire 20% stake in Wataniya Insurance Company from The Saudi British Bank for SAR 80 million.
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Financial Statements for the period ended 30 September 2021

11/04/2021 | 04:02am EST

The Saudi British Bank

Interim Condensed Consolidated Financial Statements

For the nine months period ended

30 September 2021

(Unaudited)

The Saudi British Bank

Interim consolidated statement of financial position as at

SAR'000

30 September

31 December

30 September

Notes

2021

2020

2020

Unaudited

Audited

Unaudited

(Restated)

(Restated)

Assets

Cash and balances with SAMA

5

13,960,749

36,449,415

21,510,775

Due from banks and other financial institutions, net

6

5,819,935

5,105,498

4,923,876

Positive fair value derivatives, net

11

1,463,199

1,961,306

2,169,903

Non-current assets classified as held for sale

9 (a)

68,134

-

-

Investments held at fair value through other

7

15,090,991

13,703,233

13,437,948

comprehensive income (FVOCI)

Investments held at fair value through statement of

7

1,390,505

1,237,760

1,166,415

income (FVSI)

Investments held at amortised cost, net

7

49,624,487

45,890,014

49,497,556

Loans and advances, net

8

163,500,115

153,243,078

151,885,546

Investment in associates

9

536,079

619,232

595,223

Other assets

4,154,950

4,090,172

4,572,572

Goodwill and other intangibles

10

10,775,742

10,982,536

10,956,532

Property, equipment and right of use assets, net

3,167,567

3,169,427

3,241,215

Total Assets

269,552,453

276,451,671

263,957,561

LIABILITIES AND EQUITY

Liabilities

Due to banks and other financial institutions

17,986,284

17,620,956

14,480,455

Customers' deposits

12

180,247,727

189,110,140

180,198,367

Debt securities in issue

13

5,026,153

5,066,610

5,028,906

Negative fair value derivatives, net

11

1,966,739

2,819,086

3,075,982

Other liabilities

11,724,462

11,073,139

11,386,529

Total liabilities

216,951,365

225,689,931

214,170,239

Equity

Equity attributable to equity holders of the Bank

Share capital

20,547,945

20,547,945

20,547,945

Share premium

8,524,882

17,586,986

17,586,986

Statutory reserve

24

20,547,945

11,485,841

11,485,841

Other reserves

(30,370)

324,937

40,860

Retained earnings

2,908,576

711,063

18,493

Total equity attributable to equity holders of the

52,498,978

50,656,772

49,680,125

Bank

Total equity attributable to Non-controlling interest

14

102,110

104,968

107,197

Total equity

52,601,088

50,761,740

49,787,322

Total liabilities and equity

269,552,453

276,451,671

263,957,561

Lama Ghazzaoui

Tony Cripps

Chief Financial Officer

Managing Director & Authorized Member

The accompanying notes 1 to 27 form an integral part of these interim condensed consolidated financial statements

The Saudi British Bank Interim Condensed Consolidated Financial statements 1

The Saudi British Bank

Interim consolidated statement of income - Unaudited

SAR'000

Three months ended

Nine months ended

30 September

30 September

30 September

30 September

Notes

2021

2020

2021

2020

(Restated)

(Restated)

Special commission income

1,558,470

1,855,921

4,821,901

6,130,480

Special commission expense

(149,636)

(198,353)

(514,644)

(755,199)

Net special commission income

1,408,834

1,657,568

4,307,257

5,375,281

Fee and commission income

655,226

566,921

1,836,497

1,593,755

Fee and commission expense

(315,409)

(224,789)

(899,658)

(602,751)

Fee and commission income, net

339,817

342,132

936,839

991,004

Exchange income, net

161,281

124,559

429,206

384,737

Income from FVSI financial instruments, net

36,987

19,799

121,411

122,222

Dividend income

-

-

14,828

25,284

Gains on FVOCI debt instruments, net

16,037

4,694

63,520

31,200

Other operating income / (loss), net

4,658

(7,389)

78,253

(101,374)

Total operating income

1,967,614

2,141,363

5,951,314

6,828,354

Provision for expected credit losses, net

20(a)

(12,996)

(51,098)

(40,242)

(1,598,947)

Goodwill impairment

-

-

-

(7,417,776)

Operating expenses:

Salaries and employee related expenses

(460,209)

(442,680)

(1,263,777)

(1,393,957)

Rent and premises related expenses

(14,706)

(18,118)

(44,290)

(49,005)

Depreciation and amortization

(140,997)

(183,295)

(489,735)

(498,923)

General and administrative expenses

(320,973)

(357,239)

(889,536)

(1,030,170)

Total operating expenses

(936,885)

(1,001,332)

(2,687,338)

(2,972,055)

Income / (loss) from operating activities

1,017,733

1,088,933

3,223,734

(5,160,424)

Share in earnings of associates

9

20,032

23,398

84,148

57,926

Net income/ (loss) for the period before

1,037,765

1,112,331

3,307,882

(5,102,498)

Zakat and income tax

Provision for Zakat and income tax -

(119,296)

(63,147)

(455,982)

(205,598)

Current

(Provision for) / reversal of income tax -

(32,697)

-

(77,250)

460,850

Deferred

Net income/ (loss) for the period after

885,772

1,049,184

2,774,650

(4,847,246)

Zakat and income tax

Attributable to:

Equity holders of the Bank

885,302

1,049,991

2,777,508

(4,837,271)

Non-controlling interest

470

(807)

(2,858)

(9,975)

Net income / (loss) for the period after

885,772

1,049,184

2,774,650

(4,847,246)

Zakat and income tax

Basic and diluted earnings / (loss) per

16

0.43

0.51

1.35

(2.35)

share (in SAR)

Lama Ghazzaoui

Tony Cripps

Chief Financial Officer

Managing Director & Authorized Member

The accompanying notes 1 to 27 form an integral part of these interim condensed consolidated financial statements

The Saudi British Bank Interim Condensed Consolidated Financial statements 2

The Saudi British Bank Interim consolidated statement of comprehensive income -Unaudited

SAR'000

Three months ended

Nine months ended

30 September

30 September

30 September

30 September

2021

2020

2021

2020

(Restated)

(Restated)

Net income / (loss) for the period after Zakat and income tax

885,772

1,049,184

2,774,650

(4,847,246)

Other comprehensive income for the period

Items that will not be reclassified to interim consolidated

statement of income in subsequent periods

Net changes in fair value (FVOCI equity instruments)

2,469

3,612

375,844

(199,854)

Re-measurement of defined benefit liability

(5,221)

-

(19,203)

-

Items that may be reclassified to interim consolidated

statement of income in subsequent periods

Debt instruments at FVOCI:

Net changes in fair value

(67,292)

413,228

(19,119)

(2,436)

Transfer to interim consolidated statement of income, net

(16,037)

(4,694)

(63,520)

(31,200)

Cash flow hedges:

Net changes in fair value

261

(3,955)

662

(4,631)

Transfer to interim consolidated statement of income, net

(4,272)

3,330

(10,398)

(1,100)

Total other comprehensive (loss) / income for the period

(90,092)

411,521

264,266

(239,221)

Total comprehensive income / (loss) for the period

795,680

1,460,705

3,038,916

(5,086,467)

Attributable to:

Equity holders of the Bank

795,210

1,461,512

3,041,774

(5,076,492)

Non-controlling interest

470

(807)

(2,858)

(9,975)

Total

795,680

1,460,705

3,038,916

(5,086,467)

Lama Ghazzaoui

Tony Cripps

Chief Financial Officer

Managing Director & Authorized Member

The accompanying notes 1 to 27 form an integral part of these interim condensed consolidated financial statements

The Saudi British Bank Interim Condensed Consolidated Financial statements 3

Disclaimer

The Saudi British Bank SJSC published this content on 02 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 09:01:08 UTC.


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Sales 2021 7 920 M 2 111 M 2 111 M
Net income 2021 3 600 M 960 M 960 M
Net Debt 2021 - - -
P/E ratio 2021 21,9x
Yield 2021 2,82%
Capitalization 81 781 M 21 795 M 21 797 M
Capi. / Sales 2021 10,3x
Capi. / Sales 2022 9,52x
Nbr of Employees 4 156
Free-Float -
Chart THE SAUDI BRITISH BANK
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The Saudi British Bank Technical Analysis Chart | 1060 | SA0007879089 | MarketScreener
Technical analysis trends THE SAUDI BRITISH BANK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 38,75 SAR
Average target price 32,17 SAR
Spread / Average Target -17,0%
EPS Revisions
Managers and Directors
Anthony William Cripps Chief Executive Officer, MD & Director
Mathew Pearce Chief Financial Officer
Lubna Suliman Al-Olayan Chairman
Musaifer Al Osaimi Chief Information Officer
Ghada Al Jarbou Chief Operating Officer
Sector and Competitors