Saudi British Bank announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total income from Special Commissions/Financing & Investments	1,590	1,618	-1.73	1,565	1.597
Net Income from Special Commissions/Financing & Investments	1,414	1,427	-0.911	1,419	-0.352
Total Operation Profit (Loss)	2,112	2,022	4.451	1,987	6.29
Net Profit (Loss) before Zakat and Income Tax	1,179	1,152	2.343	595	98.151
Net Profit (Loss)	1,004	970	3.505	427	135.128
Total Comprehensive Income	735	1,282	-42.667	424	73.349
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	53,677	51,933	3.358
Assets	282,692	271,555	4.101
Investments	65,588	63,225	3.737
Loans and Advances Portfolio (Financing & Investment)	176,148	156,710	12.403
Clients' deposits	193,889	183,690	5.552
Profit (Loss) per Share	0.49	0.47
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The net income before Zakat and income tax for the period ended 31 March 2022, was higher by SAR 27 million, primarily driven by higher total operating income and further contributed by an increase in share in earnings of associates. This was partially offset by an increase in provision for expected credit losses and total operating expenses.

Total operating income increased mainly due to an increase in exchange income, income from FVSI financial instruments, fee and commission income and gains on non-FVSI financial instruments, partially offset by a decrease in other operating income and gains on FVOCI debt instruments.

Total operating expenses increased largely due to an increase in general and administrative expenses and salaries and employee related expenses, partially offset by a decrease in depreciation and amortization expenses and rent and premises related expenses.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Increase in net profit was primarily driven by a lower provision for expected credit losses, total operating expenses and an increase in total operating income and share in earnings of associates. This was partially offset by a marginal decrease in net special commission income.

Total operating income increased mainly due an increase in fee and commission income, income from FVSI financial instruments, other operating income and exchange income. This was partially offset by a decrease in gains on non-FVSI financial instruments and lower net special income.

Total operating expenses decreased mainly due to lower salaries and employee related expenses, depreciation and amortization expenses and rent and premises related expenses, partially offset by an increase in general and administrative expenses.Statement of the type of external auditor's report Unmodified ConclusionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None.Reclassification of Comparison Items Certain prior period figures have been reclassified to conform to current period presentation.Additional Information Total operating expenses for the three month period ended 31 March 2022 were SAR 940 million, as compared to SAR 907 million in the corresponding period of last year, and as compared to SAR 1,026 million in the previous quarter.

Provision for expected credit losses for the three month period ended 31 March 2022 was SAR 60 million, as compared to SAR 2 million in the corresponding period of last year, and as compared to SAR 414 million in the previous quarter.

Provision for Zakat and income tax for the three month period ended 31 March 2022 amounted to SAR 163 million, as compared to SAR 167 million in the corresponding period of last year, and as compared to SAR 168 million in the previous quarter.

Earnings per share for the three month period ended 31 March 2022 and 31 March 2021 are calculated by dividing the net income after Zakat and income tax attributable to equity holders of the Bank by 2,055 million weighted average number of shares outstanding during the three month period ended 31 March 2022 and 31 March 2021.

The Capital Market Authority and Saudi 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.