The third quarter net income was SR144 million compared to SR149 million for the same quarter last year representing a decrease of 3 percent, and is compared to a net income of SR208 million for the previous quarter, representing a decrease of 31 percent.
Operating income for the third quarter reached SR395 million compared to SR 437 million for the same quarter last year, representing a decrease of 10 percent.
Net special commission income for the third quarter reached SR301 million compared to SR351 million for the same quarter last year, representing a decrease of 14 percent.
Net income for the nine-month period was SR560 million compared to SR 192 million for the same period last year, representing an increase of 192 percent.
Earnings per share for the nine-month period reached SR1.02 compared to SR 0.35 for the same period last year.
Operating income for the nine-month period reached SR1,234 million compared to SR1,337 million for the same period last year, representing a decrease of 8 percent.
Net special commission income for the nine-month period reached SR939 million compared to SR 991 million for the same period last year, representing a decrease of 5 percent.
As of Sept. 30, 2011, total assets reached SR50,621 million compared to SR49,316 million for the same period last year, representing an increase of 3 percent.
As of Sept. 30, 2011, investments reached SR8,013 million compared to SR9,525 million for the same period last year, representing a decrease of 16 percent.
As of Sept. 30, 2011, loans and advances reached SR30,468 million compared to SR31,212 million for the same period last year, representing a decrease of 2 percent.
As of Sept. 30, 2011, customers deposits reached SR36,645 million compared to SR35,598 million for the same period last year, representing an increase of 3 percent.
The increase in net income for the nine-month period ended Sept. 30, 2011, was primarily due to reduced operating expenses.
Earnings per share for the nine-month period ended Sept. 30, 2010, of 0.35 was recalculated to reflect the increase in the bank’s capital from 450 million shares to 550 million shares, which was approved in the extraordinary General Assembly meeting on March 26, 2011.
