SABB net profit rises 3% to SAR 1.006 bln in Q1 2022

SABB net profit rises 3% to SAR 1.006 bln in Q1 2022

26/04/2022 Argaam Exclusive

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Saudi British Bank (SABB) posted a net profit of SAR 1.006 billion in Q1 2022, up 3% compared with SAR 974 million in year-earlier period. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Net Special Commission Income 1,426.82 1,413.65 (0.9 %)
Operating Income 2,021.53 2,012.53 (0.4 %)
Debt Provisions (1.67) (59.78) (3,484.1 %)
Net Income 973.71 1,006.22 3.3 %
Average Shares 2,054.80 2,054.80 -
EPS (Riyals) 0.47 0.49 3.3 %
EPS Diluted (Riyal) 0.47 0.49 4.0 %

The profit growth was primarily driven by higher total operating income and increase in share from earnings of associates.

 

However, this was partially offset by a rise in provision for expected credit losses and total operating expenses.

 

Sequentially, Q1 2022 net profit more than doubled from SAR 426.92 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, reached SAR 53.677 billion in Q1 2022, compared with SAR 51.933 billion a year before.

Balance Sheet (B)

Item 3m 2021 3m 2022 Change‬
Assets 271.56 282.69 4.1 %
Customer Deposits 183.69 193.89 5.6 %
Loan 156.71 176.15 12.4 %

View More Financial Results

 


Financial results (Million)

Period Net Special Commission Income Change Operating Income Change Debt Provisions Change Net Income Change EPS(Riyal)
Q1 2013 885.23 14.2 % 1,437.55 16.4 % (104.57) (186.8 %) 947.86 11.0 % 0.63
Q2 2013 938.92 13.6 % 1,501.66 9.0 % (105.81) 7.4 % 1,004.67 9.8 % 0.67
Q3 2013 949.92 12.9 % 1,474.03 11.2 % (214.80) 25.3 % 845.78 29.0 % 0.56
Q4 2013 945.22 15.2 % 1,400.43 14.0 % 51.01 8955.9 % 975.51 19.6 % 0.65
Q1 2014 960.58 8.5 % 1,620.94 12.8 % (117.59) (12.4 %) 1,080.53 14.0 % 0.72
Q2 2014 1,008.65 7.4 % 1,663.75 10.8 % (81.37) 23.1 % 1,157.23 15.2 % 0.77
Q3 2014 1,029.46 8.4 % 1,654.60 12.3 % (157.78) 26.5 % 1,058.96 25.2 % 0.71
Q4 2014 1,063.92 12.6 % 1,562.92 11.6 % (93.07) (282.4 %) 969.35 (0.6 %) 0.65
Q1 2015 1,031.46 7.4 % 1,717.18 5.9 % (115.59) 1.7 % 1,115.19 3.2 % 0.74
Q2 2015 1,067.05 5.8 % 1,674.98 0.7 % (113.05) (38.9 %) 1,137.26 (1.7 %) 0.76
Q3 2015 1,079.01 4.8 % 1,689.26 2.1 % (88.00) 44.2 % 1,139.56 7.6 % 0.76
Q4 2015 1,076.35 1.2 % 1,549.21 (0.9 %) (113.08) (21.5 %) 938.54 (3.2 %) 0.63
Q1 2016 1,116.67 8.3 % 1,795.56 4.6 % (144.97) (25.4 %) 1,141.68 2.4 % 0.76
Q2 2016 1,181.84 10.8 % 1,761.11 5.1 % (103.29) 8.6 % 1,151.65 1.3 % 0.77
Q3 2016 1,222.36 13.3 % 1,687.30 (0.1 %) (189.53) (115.4 %) 994.82 (12.7 %) 0.66
Q4 2016 1,236.05 14.8 % 1,664.64 7.5 % (506.78) (348.2 %) 606.58 (35.4 %) 0.40
Q1 2017 1,250.65 12.0 % 1,824.07 1.6 % (226.29) (56.1 %) 1,035.98 (9.3 %) 0.69
Q2 2017 1,284.32 8.7 % 1,800.61 2.2 % (164.90) (59.7 %) 1,129.16 (2.0 %) 0.75
Q3 2017 1,258.28 2.9 % 1,763.89 4.5 % (168.78) 10.9 % 1,083.32 8.9 % 0.72
Q4 2017 1,304.64 5.5 % 1,738.34 4.4 % (441.85) 12.8 % 706.11 16.4 % 0.47
Q1 2018 1,322.55 5.7 % 1,761.65 (3.4 %) (207.25) 8.4 % 975.40 (5.8 %) 0.65
Q2 2018 1,390.51 8.3 % 1,868.53 3.8 % 90.82 155.1 % 832.59 (26.3 %) 0.56
Q3 2018 1,413.74 12.4 % 1,861.35 5.5 % (87.02) 48.4 % 1,061.37 (2.0 %) 0.71
Q4 2018 1,450.53 11.2 % 1,831.32 5.3 % (55.58) 87.4 % (153.92) (121.8 %) (0.10)
Q1 2019 1,486.94 12.4 % 1,970.01 11.8 % (90.78) 56.2 % 1,108.55 13.7 % 0.58
Q2 2019 1,609.90 15.8 % 2,010.61 7.6 % (1,591.65) (1852.6 %) (188.13) (122.6 %) (0.10)
Q3 2019 2,084.30 47.4 % 2,669.65 43.4 % (182.05) (109.2 %) 1,177.99 11.0 % 0.61
Q4 2019 1,998.49 37.8 % 2,563.05 40.0 % (636.70) (1,045.6 %) 660.10 528.9 % 0.34
Q1 2020 1,902.58 28.0 % 2,368.89 20.2 % (239.07) (163.4 %) 975.59 (12.0 %) 0.47
Q2 2020 1,815.14 12.7 % 2,318.10 15.3 % (1,308.78) 17.8 % (6862.85) (3,547.9 %) (3.34)
Q3 2020 1,657.57 (20.5 %) 2,141.36 (19.8 %) (51.10) 71.9 % 1,049.99 (10.9 %) 0.51
Q4 2020 1,497.43 (25.1 %) 2,049.61 (20.0 %) (31.98) 95.0 % 681.88 3.3 % 0.33
Q1 2021 1,426.82 (25.0 %) 2,021.53 (14.7 %) (1.67) 99.3 % 973.71 (0.2 %) 0.47
Q2 2021 1,467.28 (19.2 %) 1,946.78 (16.0 %) (25.58) 98.0 % 918.50 113.4 % 0.45
Q3 2021 1,406.69 (15.1 %) 1,935.43 (9.6 %) (13.00) 74.6 % 885.30 (15.7 %) 0.43
Q4 2021 1,416.44 (5.4 %) 1,805.51 (11.9 %) (413.50) (1,192.8 %) 426.92 (37.4 %) 0.21
Q1 2022 1,413.65 (0.9 %) 2,012.53 (0.4 %) (59.78) (3,484.1 %) 1,006.22 3.3 % 0.49

Profitability

Period Return On Average Assets Return on Average Equity Net Interest Income/Total Operating Income
Q1 2013 2.20 % 17.68 % 62.85 %
Q2 2013 2.18 % 17.36 % 63.47 %
Q3 2013 2.24 % 17.58 % 63.72 %
Q4 2013 2.26 % 17.59 % 63.98 %
Q1 2014 2.34 % 18.15 % 63.28 %
Q2 2014 2.41 % 17.99 % 62.74 %
Q3 2014 2.45 % 18.06 % 62.21 %
Q4 2014 2.34 % 17.45 % 62.48 %
Q1 2015 2.35 % 17.51 % 62.64 %
Q2 2015 2.33 % 16.66 % 63.42 %
Q3 2015 2.29 % 16.52 % 63.84 %
Q4 2015 2.31 % 15.97 % 64.15 %
Q1 2016 2.28 % 15.92 % 64.68 %
Q2 2016 2.28 % 15.32 % 65.54 %
Q3 2016 2.21 % 14.69 % 67.67 %
Q4 2016 2.08 % 13.10 % 68.85 %
Q1 2017 2.01 % 12.51 % 70.50 %
Q2 2017 2.01 % 12.04 % 71.57 %
Q3 2017 2.11 % 12.26 % 71.31 %
Q4 2017 2.12 % 12.24 % 71.53 %
Q1 2018 2.12 % 12.22 % 73.18 %
Q2 2018 1.97 % 10.95 % 73.97 %
Q3 2018 2.02 % 10.90 % 75.13 %
Q4 2018 1.50 % 8.25 % 76.16 %
Q1 2019 1.60 % 8.66 % 76.24 %
Q2 2019 0.81 % 4.14 % 77.69 %
Q3 2019 0.90 % 4.43 % 78.19 %
Q4 2019 1.25 % 6.24 % 77.93 %
Q1 2020 1.19 % 5.86 % 79.02 %
Q2 2020 (1.51 %) (7.82 %) 78.64 %
Q3 2020 (1.60 %) (7.98 %) 78.52 %
Q4 2020 (1.53 %) (7.79 %) 77.41 %
Q1 2021 (1.55 %) (7.74 %) 74.99 %
Q2 2021 1.34 % 7.18 % 74.14 %
Q3 2021 1.30 % 6.77 % 72.90 %
Q4 2021 1.17 % 6.19 % 74.16 %
Q1 2022 1.17 % 6.13 % 74.08 %

Balance Sheet (B)

Period Assets Change Customer Deposits Change Loan Change
Q1 2013 158.79 10.2 % 122.07 9.4 % 101.18 11.0 %
Q2 2013 161.94 6.6 % 125.89 7.1 % 106.00 11.9 %
Q3 2013 166.28 6.4 % 129.92 8.5 % 107.83 10.3 %
Q4 2013 177.30 13.2 % 138.96 15.4 % 106.11 10.4 %
Q1 2014 175.42 10.5 % 136.98 12.2 % 109.90 8.6 %
Q2 2014 175.47 8.4 % 138.30 9.9 % 112.71 6.3 %
Q3 2014 182.96 10.0 % 143.69 10.6 % 116.67 8.2 %
Q4 2014 187.61 5.8 % 145.87 5.0 % 115.22 8.6 %
Q1 2015 190.16 8.4 % 149.00 8.8 % 120.43 9.6 %
Q2 2015 192.33 9.6 % 151.10 9.3 % 126.96 12.6 %
Q3 2015 197.20 7.8 % 155.85 8.5 % 129.57 11.1 %
Q4 2015 187.75 0.1 % 148.89 2.1 % 125.95 9.3 %
Q1 2016 191.79 0.9 % 151.88 1.9 % 130.56 8.4 %
Q2 2016 191.87 (0.2 %) 150.27 (0.6 %) 131.10 3.3 %
Q3 2016 185.90 (5.7 %) 144.08 (7.5 %) 125.87 (2.9 %)
Q4 2016 186.06 (0.9 %) 140.64 (5.5 %) 120.96 (4.0 %)
Q1 2017 185.26 (3.4 %) 141.57 (6.8 %) 119.49 (8.5 %)
Q2 2017 182.52 (4.9 %) 138.31 (8.0 %) 117.88 (10.1 %)
Q3 2017 179.48 (3.5 %) 134.57 (6.6 %) 116.69 (7.3 %)
Q4 2017 187.62 0.8 % 140.24 (0.3 %) 117.01 (3.3 %)
Q1 2018 182.62 (1.4 %) 135.39 (4.4 %) 116.49 (2.5 %)
Q2 2018 183.13 0.3 % 132.93 (3.9 %) 113.36 (3.8 %)
Q3 2018 175.05 (2.5 %) 129.33 (3.9 %) 112.13 (3.9 %)
Q4 2018 174.68 (6.9 %) 130.51 (6.9 %) 110.33 (5.7 %)
Q1 2019 173.78 (4.8 %) 127.24 (6.0 %) 110.36 (5.3 %)
Q2 2019 270.82 47.9 % 196.16 47.6 % 154.96 36.7 %
Q3 2019 258.49 47.7 % 183.41 41.8 % 149.34 33.2 %
Q4 2019 265.99 52.3 % 192.17 47.2 % 152.08 37.8 %
Q1 2020 265.69 52.9 % 188.28 48.0 % 155.18 40.6 %
Q2 2020 266.99 (1.4 %) 188.36 (4.0 %) 152.95 (1.3 %)
Q3 2020 263.96 2.1 % 180.20 (1.8 %) 151.89 1.7 %
Q4 2020 276.45 3.9 % 189.11 (1.6 %) 153.24 0.8 %
Q1 2021 271.56 2.2 % 183.69 (2.4 %) 156.71 1.0 %
Q2 2021 272.94 2.2 % 186.83 (0.8 %) 161.44 5.6 %
Q3 2021 269.55 2.1 % 180.25 0.0 % 163.50 7.6 %
Q4 2021 272.40 (1.5 %) 186.76 (1.2 %) 167.56 9.3 %
Q1 2022 282.69 4.1 % 193.89 5.6 % 176.15 12.4 %

Ratios

Period Customer Deposits Per Total Assets Loans and advances/Total assets Loans and advances/Customers Deposits
Q1 2013 76.88 % 63.72 % 82.89 %
Q2 2013 77.74 % 65.46 % 84.20 %
Q3 2013 78.13 % 64.85 % 83.00 %
Q4 2013 78.38 % 59.85 % 76.36 %
Q1 2014 78.09 % 62.65 % 80.23 %
Q2 2014 78.82 % 64.23 % 81.50 %
Q3 2014 78.54 % 63.77 % 81.20 %
Q4 2014 77.75 % 61.42 % 78.99 %
Q1 2015 78.36 % 63.33 % 80.83 %
Q2 2015 78.57 % 66.01 % 84.02 %
Q3 2015 79.03 % 65.71 % 83.14 %
Q4 2015 79.30 % 67.08 % 84.59 %
Q1 2016 79.19 % 68.07 % 85.97 %
Q2 2016 78.32 % 68.33 % 87.24 %
Q3 2016 77.50 % 67.71 % 87.36 %
Q4 2016 75.59 % 65.02 % 86.01 %
Q1 2017 76.42 % 64.50 % 84.40 %
Q2 2017 75.78 % 64.59 % 85.23 %
Q3 2017 74.97 % 65.01 % 86.71 %
Q4 2017 74.75 % 62.36 % 83.43 %
Q1 2018 74.14 % 63.79 % 86.04 %
Q2 2018 72.59 % 61.90 % 85.28 %
Q3 2018 73.88 % 64.06 % 86.70 %
Q4 2018 74.71 % 63.16 % 84.54 %
Q1 2019 73.22 % 63.50 % 86.73 %
Q2 2019 72.43 % 57.22 % 79.00 %
Q3 2019 70.96 % 57.77 % 81.42 %
Q4 2019 72.25 % 57.17 % 79.14 %
Q1 2020 70.86 % 58.41 % 82.42 %
Q2 2020 70.55 % 57.29 % 81.20 %
Q3 2020 68.27 % 57.54 % 84.29 %
Q4 2020 68.41 % 55.43 % 81.03 %
Q1 2021 67.64 % 57.71 % 85.31 %
Q2 2021 68.45 % 59.15 % 86.41 %
Q3 2021 66.87 % 60.66 % 90.71 %
Q4 2021 68.56 % 61.51 % 89.72 %
Q1 2022 68.59 % 62.31 % 90.85 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) EPS Diluted (Riyal) Book Value (BV)
Q1 2013 1,500.00 2.22 2.22 - 13.35
Q2 2013 1,500.00 2.28 2.28 - 13.99
Q3 2013 1,500.00 2.41 2.41 - 14.60
Q4 2013 1,500.00 2.52 2.52 - 15.22
Q1 2014 1,500.00 2.60 2.60 - 15.35
Q2 2014 1,500.00 2.71 2.71 - 16.10
Q3 2014 1,500.00 2.85 2.85 - 16.93
Q4 2014 1,500.00 2.84 2.84 - 17.38
Q1 2015 1,500.00 2.87 2.87 - 17.40
Q2 2015 1,500.00 2.85 2.85 - 18.17
Q3 2015 1,500.00 2.91 2.91 - 18.27
Q4 2015 1,500.00 2.89 2.89 - 18.78
Q1 2016 1,500.00 2.90 2.90 - 19.09
Q2 2016 1,500.00 2.91 2.91 - 19.87
Q3 2016 1,500.00 2.82 2.82 - 20.10
Q4 2016 1,500.00 2.60 2.60 - 20.85
Q1 2017 1,500.00 2.53 2.53 - 21.30
Q2 2017 1,500.00 2.51 2.51 - 21.83
Q3 2017 1,500.00 2.57 2.57 - 21.83
Q4 2017 1,500.00 2.64 2.64 - 22.23
Q1 2018 1,500.00 2.60 2.60 - 21.18
Q2 2018 1,500.00 2.40 2.40 - 21.98
Q3 2018 1,500.00 2.38 2.38 - 21.89
Q4 2018 1,500.00 1.81 2.51 - 21.64
Q1 2019 1,916.10 1.49 2.07 - 22.67
Q2 2019 1,916.10 0.95 1.57 - 26.91
Q3 2019 1,916.10 1.01 1.71 - 26.77
Q4 2019 1,916.10 1.44 1.66 - 27.25
Q1 2020 2,054.80 1.28 1.50 - 27.04
Q2 2020 2,054.80 (1.97) 1.87 - 23.46
Q3 2020 2,054.80 (2.03) 1.80 - 24.18
Q4 2020 2,054.80 (2.02) 1.83 (2.03) 24.65
Q1 2021 2,054.80 (2.02) 1.78 (2.03) 25.27
Q2 2021 2,054.80 1.76 1.92 1.76 25.69
Q3 2021 2,054.80 1.68 1.78 1.68 25.55
Q4 2021 2,054.80 1.56 1.56 1.56 25.76
Q1 2022 2,054.80 1.58 1.58 1.58 26.12

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 13.68 13.68 2.28
Q2 2013 14.84 14.84 2.42
Q3 2013 14.71 14.71 2.43
Q4 2013 15.97 15.97 2.64
Q1 2014 16.48 16.48 2.80
Q2 2014 16.40 16.40 2.76
Q3 2014 19.64 19.64 3.30
Q4 2014 18.74 18.74 3.07
Q1 2015 15.36 15.36 2.53
Q2 2015 15.94 15.94 2.50
Q3 2015 13.15 13.15 2.09
Q4 2015 11.74 11.74 1.81
Q1 2016 10.71 10.71 1.63
Q2 2016 9.55 9.55 1.40
Q3 2016 9.03 9.03 1.27
Q4 2016 13.19 13.19 1.64
Q1 2017 12.26 12.26 1.45
Q2 2017 14.63 14.63 1.68
Q3 2017 14.44 14.44 1.70
Q4 2017 14.03 14.03 1.66
Q1 2018 16.53 16.53 2.03
Q2 2018 18.02 18.02 1.97
Q3 2018 18.39 18.39 2.00
Q4 2018 24.71 17.80 2.07
Q1 2019 27.27 19.61 2.28
Q2 2019 45.75 27.74 1.51
Q3 2019 32.18 19.15 1.14
Q4 2019 25.85 22.45 1.27
Q1 2020 15.82 13.49 0.75
Q2 2020 NEG 12.19 0.97
Q3 2020 NEG 14.09 1.05
Q4 2020 NEG 13.45 1.00
Q1 2021 NEG 14.72 1.04
Q2 2021 17.90 16.47 1.23
Q3 2021 19.73 18.66 1.30
Q4 2021 21.15 21.15 1.28
Q1 2022 25.21 25.21 1.52

Business Segments (Million)

Compared With The
Period Corporate and Institutional Banking Retail Global markets and Treasury Capital Markets Securities Others
Q1 2013 669.42 449.73 318.40 - - -
Q2 2013 721.59 513.72 266.36 - - -
Q3 2013 682.97 488.19 302.87 - - -
Q4 2013 637.47 478.87 285.81 - - -
Q1 2014 765.86 523.73 331.36 - - -
Q2 2014 775.98 566.57 321.20 - - -
Q3 2014 737.30 591.36 325.94 - - -
Q4 2014 713.87 566.28 282.77 - - -
Q1 2015 764.09 556.61 396.48 - - -
Q2 2015 719.96 610.16 344.86 - - -
Q3 2015 793.40 573.68 322.18 - - -
Q4 2015 692.91 571.24 285.06 - - -
Q1 2016 809.69 567.45 418.42 - - -
Q2 2016 816.05 596.58 348.48 - - -
Q3 2016 744.91 605.70 298.85 - - 37.84
Q4 2016 769.26 588.11 307.27 - - -
Q1 2017 820.93 629.32 373.81 - - -
Q2 2017 813.48 648.25 317.88 - - -
Q3 2017 782.34 651.12 298.94 - - 31.50
Q4 2017 802.81 638.75 296.78 - - -
Q1 2018 837.17 636.19 297.53 - - (9.24)
Q2 2018 858.65 676.74 297.90 - - 35.24
Q3 2018 859.33 660.93 305.03 - - 36.06
Q4 2018 884.78 649.51 299.50 - - (2.47)
Q1 2019 974.49 665.28 287.07 - - 43.18
Q2 2019 1,001.14 702.09 294.50 - - 12.88
Q3 2019 1,256.87 1,083.30 262.72 - - 66.75
Q4 2019 1,213.52 1,018.68 310.69 - - 20.17
Q1 2020 1,161.94 827.87 352.35 - - 26.74
Q2 2020 1,034.10 794.71 503.14 - - (13.86)
Q3 2020 967.46 726.29 447.62 - - -
Q4 2020 869.28 813.77 370.56 - - (4.00)
Q1 2021 864.31 692.77 458.25 - - 6.20
Q2 2021 872.68 613.31 413.06 - - 23.59
Q3 2021 828.72 635.72 462.48 19.15 - (17.38)
Q4 2021 674.18 580.73 528.64 6.62 - 15.33
Q1 2022 903.95 650.36 469.17 8.09 - (19.04)

Analysts Estimates (Million)

Item Q1 2022 (e) Q1 2022 (a) Change‬
Average 781.39 1,006.22 28.77 %

Estimates vs Actual (Million)

Item Q1 2022 (e) Q1 2022 (a) Change
JP Morgan 935.00 1,006.22 7.6 %
OSOOL AND BAKHEET 871.74 1,006.22 15.4 %
Riyad Capital 807.00 1,006.22 24.7 %
U-Capital 791.60 1,006.22 27.1 %
Hermes 756.00 1,006.22 33.1 %
Sico 527.00 1,006.22 90.9 %


Financial Ratios
Current
Market Cap (M Riyal) 77,363.22
Shares Outstanding ((M)) 2,054.80
EPS ( Riyal) (TTM) 3.54
EPS Diluted ( Riyal) (TTM) 3.50
Book Value (BV) ( Riyal) 28.73
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 10.63
P/E (TTM) 10.63
Price/book 1.31
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 12.5
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Share Price

Saudi Awwal Bank
37.65
(0.30) (0.79 %)

Saudi Awwal Bank (SAB)

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