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Arab National Bank announces the interim financial results for the period ending on 30-06-2016 (Six months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 818 835.3 -2.07 749.2 9.18
Total profit (loss) operation income\ Investments 1,546.2 1,502.3 2.92 1,475.2 4.81
Net profit (loss) special commission income\ Investments 1,086.2 969.9 11.99 961.7 12.95
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 1,567.2 1,605.9 -2.41
Total profit (loss) operation income\ Investments 3,021.4 3,005.6 0.53
Net profit (loss) special commission income\ Investments 2,047.9 1,949.5 5.05
Earning or loss per share, Riyals 1.57 1.61 -
Total Assets 166,578 166,425 0.09
Investments 23,037 33,866 -31.98
Loans and advances portfolio 117,877 111,490 5.73
Customer deposit 129,159 132,417 -2.46
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net profit for the quarter decreased due to an increase in total operating expenses by 8.8.% resulting mainly from the increase in impairment charges for credit losses and investments in addition to the increase in depreciation and amortization expenses . While the total operating income recorded an increase of 2.9% mainly due to the increase in net special commission income and increase of dividend income, trading revenues and other operating income; off set by a decrease in net banking fees and commission income, net foreign exchange income and unrealized gains from FVIS financial instruments.
Reasons of increase (decrease) for period compared with same period last year The net income for the quarter decreased due to the increase in total operating expenses by 3.4% resulting mainly from an increase in impairment charges for credit losses, depreciation expenses and impairment charges for investments; offset by a decrease in salaries and employees related expenses. While the total operating income showed a marginal increase of 0.5% due to the increase in net special commission income of 5% , increase in gains of non-trading investments , trading revenues and other operating revenues, offset by a decrease in net banking fees and commission income, net foreign exchange income and unrealized gains from FVIS financial instruments.
Reason of increase (decrease) for quarter compared with the previous quarter The net income for the quarter increased due to the increase in total operating income by 4.8% resulting mainly from an increase in net special commission income, in addition to increase in dividend income and trading revenues; offset by a decrease in net banking fees and commission income, gains of non-trading investments and net foreign exchange income. On the other hand, the total operating expenses marginally increased by 0.6% due to the increase in the impairment charges for credit losses and investments; offset by a decrease in other general and administrative expenses.
Reclassifications in quarterly financial results Certain comparative figures were reclassified to conform to the current period classification.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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