The combined earnings of Saudi brokerage firms fell 8 percent year-on-year (YoY) to SAR 1.59 billion in 2017, data from the Capital Market Authority (CMA), the Kingdom’s market regulator, showed.
The decline was attributed to a YoY decline of 8 percent in revenue to SAR 5.04 billion in the same period.
The number of brokerage firms operating in the Kingdom decreased to 82 from 83 in 2016.
Income Statement (SAR mln) |
|||
Period |
2016 |
2017 |
Variation |
Revenue |
5,492.4 |
5,042.9 |
(8%) |
Opex |
3,672.4 |
3,372.5 |
(8%) |
Operating income |
1,820.0 |
1,670.3 |
(8%) |
Other income |
34.7 |
57.5 |
+66% |
Profit/loss of minority interest |
1.2 |
0.9 |
(21%) |
Net profit |
1,720.6 |
1,590.0 |
(8%) |
Combined assets grew by 4 percent YoY to SAR 28.3 billion. Shareholders’ equity, however, slipped 0.1 percent YoY to SAR 21.46 billion.
Balance Sheet (SAR mln) |
|||
Period |
2016 |
2017 |
Variation |
Assets |
27,274.1 |
28,342.4 |
+4% |
Liabilities |
5,606.3 |
6,461.4 |
+23% |
Capital |
15,921.2 |
15,437.3 |
(3%) |
Shareholders’ equity |
21,475.0 |
21,459.1 |
-- |
Brokerage firms completed SAR 1.71 trillion worth of transactions in different equity markets in 2017, a drop of 27 percent YoY.
The firms’ transactions accounted for 97.9 percent of total trading activity on the Saudi market.
Labor force in brokerage firms declined 2 percent YoY to 4,342 persons in 2017, with the Saudization rate standing at 70 percent in the same period.
Trading Value by Region (SAR mln) |
||
Market |
Trading Value |
Percent to total trading value |
Local Market |
1,676,103 |
97.86% |
GCC |
2,993 |
0.17% |
Arab countries |
256 |
0.01% |
Asia |
15 |
0.00% |
US |
31,020 |
1.81% |
Europe |
1,222 |
0.07% |
Others |
1,104 |
0.16% |
Total |
1,712,714 |
100.00% |
Trading Value by Region (SAR mln) |
||||
Market |
Trading Value (SAR mln) |
Variation |
Percent to total trading value |
|
|
2016 |
2017 |
|
|
Local Market |
2,313,975 |
1,676,103 |
(28%) |
97.86% |
GCC |
4,685 |
2,993 |
(36%) |
0.17% |
Arab countries |
101 |
256 |
+153% |
0.01% |
Asia |
16 |
15 |
(6%) |
0.00% |
US |
24,304 |
31,020 |
+28% |
1.81% |
Europe |
710 |
1,222 |
+72% |
0.07% |
Others |
852 |
1,104 |
+30% |
0.16% |
Total |
2,344,641 |
1,712,714 |
(7%) |
100.00% |
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