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Saudi Banks Sector Banks –Finance 6 April 2017 Segmental breakup Figure 44 Net income breakup Bank Retail Corporate Treasury Investment services & brokerage Others Al Rajhi 52% 17% 26% 5% 0% Samba 28% 41% 28% 2% 0% Riyad 72% -25% 67% 10% -24% BSF 11% -5% 86% 8% 0% SABB 15% 38% 44% 0% 4% ANB 52% 37% -4% 4% 12% Al Awwal -15% 115% 2% -2% 0% SIB -2% 78% 35% 3% -13% Alinma 12% 45% 33% 9% 0% AlJazira 15% 17% 78% 9% -18% Albilad 10% 38% 23% 7% 22% NCB 29% 23% 41% 3% 5% Source: Company data, Al Rajhi Capital Figure 45 Total assets breakup Bank Retail Corporate Treasury Investment services & brokerage Others Al Rajhi 52% 18% 29% 0.7% 0% Samba 16% 46% 39% 0.0% 0% Riyad 18% 48% 33% 0.0% 1.5% BSF 8% 57% 34% 0.5% 0% SABB 17% 50% 33% 0.0% 0% ANB 23% 48% 27% 1.0% 1.3% Al Awwal 20% 49% 30% 0.5% 0% SIB 30% 38% 28% 0.4% 3% Alinma 17% 55% 28% 0.4% 0% AlJazira 30% 34% 34% 1.2% 0.2% Albilad 34% 42% 21% 0.4% 2.4% NCB 24% 32% 34% 0.3% 9.2% Source: Company data, Al Rajhi Capital Figure 46 Retail operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 3,089 2,821 2,594 -16.0% -8.0% 34.1% 29.6% Samba 565 965 811 43.6% -15.9% 6.2% 9.2% Riyad 816 539 495 -39.3% -8.2% 9.0% 5.6% BSF 378 370 356 -5.8% -3.7% 4.2% 4.1% SABB 571 612 588 3.0% -4.0% 6.3% 6.7% ANB 493 497 746 51.4% 50.0% 5.4% 8.5% Al Awwal 302 371 384 27.1% 3.5% 3.3% 4.4% SIB 240 275 184 -23.5% -33.3% 2.7% 2.1% Alinma 263 297 288 9.5% -3.0% 2.9% 3.3% AlJazira 249 230 238 -4.3% 3.3% 2.7% 2.7% Albilad 321 330 324 1.1% -1.8% 3.5% 3.7% NCB 1,768 1,914 1,770 0.1% -7.5% 19.5% 20.2% Total 9,054 9,222 8,778 -3.0% -4.8% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 47 Retail net operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 1906 1330 1073 -43.7% -19.3% 47.3% 38.1% Samba 168 307 309 83.9% 0.9% 4.2% 11.0% Riyad 373 226 213 -43.0% -6.1% 9.3% 7.5% BSF 125 73 43 -66.1% -41.8% 3.1% 1.5% SABB 184 226 88 -52.3% -61.0% 4.6% 3.1% ANB 126 24 295 133.2% 1124.3% 3.1% 10.5% Al Awwal 109 110 37 -65.8% -66.0% 2.7% 1.3% SIB 104 99 -7 -106.3% -106.6% 2.6% -0.2% Alinma 68 69 48 -28.5% -29.9% 1.7% 1.7% AlJazira 32 20 22 -31.0% 13.4% 0.8% 0.8% Albilad 40 35 23 -42.7% -35.5% 1.0% 0.8% NCB 792 601 670 -15.3% 11.5% 19.7% 23.8% Total 4,028 3,120 2,815 -30.1% -9.8% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 48 Total retail segment assets Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 169,972 178,424 177,178 4.2% -0.7% 32.0% 32.2% Samba 38,886 38,410 35,982 -7.5% -6.3% 7.3% 6.5% Riyad 39,686 39,102 39,437 -0.6% 0.9% 7.5% 7.2% BSF 15,978 17,040 16,500 3.3% -3.2% 3.0% 3.0% SABB 33,000 33,456 31,751 -3.8% -5.1% 6.2% 5.8% ANB 39,173 40,324 38,646 -1.3% -4.2% 7.4% 7.0% Al Awwal 17,343 21,195 21,469 23.8% 1.3% 3.3% 3.9% SIB 26,218 26,789 28,418 8.4% 6.1% 4.9% 5.2% Alinma 15,466 17,699 17,590 13.7% -0.6% 2.9% 3.2% AlJazira 19,624 20,201 20,167 2.8% -0.2% 3.7% 3.7% Albilad 15,818 18,078 18,343 16.0% 1.5% 3.0% 3.3% NCB 99,916 107,786 104,491 4.6% -3.1% 18.8% 19.0% Total 531,081 558,504 549,974 3.6% -1.5% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 49 Retail segment yield (operating income/assets) Change bps Bank Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 y-o-y q-o-q Al Rajhi 7.3% 6.3% 6.6% 6.4% 5.8% (142.0) (51.5) Samba 5.8% 6.1% 4.3% 10.0% 8.7% 296.0 (125.8) Riyad 8.1% 6.4% 6.4% 5.5% 5.0% (303.4) (47.9) BSF 9.3% 9.6% 9.0% 8.6% 8.5% (84.9) (14.9) SABB 6.7% 6.8% 7.0% 7.2% 7.2% 54.3 (1.1) ANB 5.0% 5.4% 5.3% 4.9% 7.6% 251.0 269.2 Al Awwal 7.2% 7.4% 7.2% 7.0% 7.2% (0.4) 15.9 SIB 3.8% 3.5% 4.4% 4.0% 2.7% (114.7) (131.8) Alinma 6.8% 6.8% 6.5% 6.6% 6.5% (25.0) (10.0) AlJazira 5.1% 5.0% 4.7% 4.5% 4.7% (37.3) 20.1 Albilad 8.7% 7.9% 7.4% 7.3% 7.1% (152.7) (21.1) NCB 7.1% 7.6% 7.3% 7.1% 6.7% (46.2) (41.1) Total 6.8% 6.5% 6.4% 6.6% 6.3% (49.3) (24.6) Source: Company data, Al Rajhi Capital Disclosures Please refer to the important disclosures at the back of this report. 12
Saudi Banks Sector Banks –Finance 6 April 2017 Figure 50 Corporate operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi (13) 608 552 NM -9.2% -0.2% 8.5% Samba 812 728 636 -21.7% -12.6% 14.5% 9.8% Riyad 723 730 774 7.0% 5.9% 12.9% 11.9% BSF 734 787 749 2.1% -4.8% 13.1% 11.5% SABB 693 773 769 11.0% -0.5% 12.4% 11.9% ANB 501 506 451 -10.1% -10.9% 9.0% 6.9% Al Awwal 263 484 464 76.1% -4.2% 4.7% 7.1% SIB 172 315 302 75.2% -4.0% 3.1% 4.7% Alinma 395 369 397 0.6% 7.5% 7.1% 6.1% AlJazira 106 124 129 21.9% 3.8% 1.9% 2.0% Albilad 196 223 204 4.1% -8.5% 3.5% 3.1% NCB 1,002 1,274 1,063 6.1% -16.6% 17.9% 16.4% Total 5,584 6,920 6,489 16.2% -6.2% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 51 Corporate net operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi (460) 337 341 0.0% 1.2% -12.9% 7.8% Samba 684 583 449 -34.4% -23.1% 19.2% 13.5% Riyad 562 376 (74) 0.0% 0.0% 15.7% 8.7% BSF 518 611 (18) 0.0% 0.0% 14.5% 14.1% SABB 482 489 228 -52.7% -53.4% 13.5% 11.3% ANB 210 282 208 -0.9% -26.1% 5.9% 6.5% Al Awwal 327 234 (286) 0.0% 0.0% 9.1% 5.4% SIB 101 242 235 132.6% -3.0% 2.8% 5.6% Alinma 280 253 175 -37.3% -30.6% 7.8% 5.8% AlJazira (3) 33 26 -934.3% -21.0% -0.1% 0.8% Albilad 133 111 84 -36.4% -24.2% 3.7% 2.6% NCB 738 767 532 -27.9% -30.6% 20.7% 17.8% Total 3,572 4,319 1,901 -46.8% -56.0% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 52 Total corporate segment assets Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 54,520 63,778 61,797 13.3% -3.1% 6.1% 6.9% Samba 106,307 107,875 105,514 -0.7% -2.2% 12.0% 11.8% Riyad 105,783 114,016 103,814 -1.9% -8.9% 11.9% 11.6% BSF 110,466 121,578 116,505 5.5% -4.2% 12.4% 13.0% SABB 96,850 96,859 93,094 -3.9% -3.9% 10.9% 10.4% ANB 81,991 80,678 81,689 -0.4% 1.3% 9.2% 9.1% Al Awwal 59,069 56,069 51,274 -13.2% -8.6% 6.7% 5.7% SIB 38,262 38,803 36,013 -5.9% -7.2% 4.3% 4.0% Alinma 45,380 56,329 57,567 26.9% 2.2% 5.1% 6.4% AlJazira 23,028 23,359 22,682 -1.5% -2.9% 2.6% 2.5% Albilad 22,793 23,197 22,537 -1.1% -2.8% 2.6% 2.5% NCB 143,147 150,314 142,830 -0.2% -5.0% 16.1% 16.0% Total 887,596 932,856 895,315 0.9% -4.0% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 53 Corporate segment yield (operating income/assets) Change (bps) Bank Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 y-o-y q-o-q Al Rajhi -0.1% 2.8% 2.7% 3.8% 3.5% 360.6 (27.7) Samba 3.1% 2.6% 2.7% 2.7% 2.4% (70.7) (31.4) Riyad 2.8% 2.9% 2.7% 2.5% 2.8% (0.3) 29.7 BSF 2.7% 2.8% 2.7% 2.6% 2.5% (14.3) (12.6) SABB 2.8% 3.3% 3.2% 3.1% 3.2% 40.1 12.2 ANB 2.5% 2.5% 2.7% 2.5% 2.2% (24.9) (26.5) Al Awwal 1.8% 3.9% 3.4% 3.4% 3.5% 164.6 2.8 SIB 1.8% 1.6% 3.1% 3.3% 3.2% 142.1 (7.5) Alinma 3.6% 2.7% 2.8% 2.7% 2.8% (84.1) 10.7 AlJazira 1.8% 2.1% 1.9% 2.1% 2.2% 41.4 15.4 Albilad 3.8% 3.4% 2.8% 3.8% 3.6% (24.3) (26.5) NCB 2.8% 3.0% 3.0% 3.4% 2.9% 5.2 (47.3) Total 2.5% 2.8% 2.8% 3.0% 2.8% 29.5 (12.3) Source: Company data, Al Rajhi Capital Figure 54 Treasury operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 324 322 552 NM NM 10.5% 15.6% Samba 353 171 342 -3.0% 99.7% 11.4% 9.7% Riyad 179 294 209 16.7% -29.1% 5.8% 5.9% BSF 363 402 380 4.7% -5.4% 11.7% 10.7% SABB 285 302 307 7.8% 1.9% 9.2% 8.7% ANB 200 387 1 -99.5% -99.8% 6.5% 0.0% Al Awwal (46) 45 45 -199.9% 0.1% -1.5% 1.3% SIB 260 141 130 -49.9% -7.3% 8.4% 3.7% Alinma 87 134 199 128.6% 48.8% 2.8% 5.6% AlJazira 192 203 196 2.4% -3.3% 6.2% 5.6% Albilad 38 62 67 78.5% 8.1% 1.2% 1.9% NCB 857 820 1,107 29.2% 35.0% 27.7% 31.3% Total 3,092 3,283 3,537 14.4% 7.7% 100.0% 100.0% Source: Company data, Al Rajhi Capital Figure 55 Treasury net operating income Market share Bank Q4 2015 Q3 2016 Q4 2016 y-o-y q-o-q Q4 2015 Q4 2016 Al Rajhi 360 260 540 49.9% 107.4% 15.4% 18.3% Samba 321 340 308 -4.0% -9.4% 13.7% 10.4% Riyad 161 233 196 22.2% -15.5% 6.9% 6.7% BSF 295 308 321 9.0% 4.1% 12.6% 10.9% SABB 247 264 264 6.8% 0.1% 10.6% 9.0% ANB 178 335 (25) -114.1% -107.5% 7.6% -0.9% Al Awwal 13 (81) (5) NM NM 0.5% -0.2% SIB 100 (48) 106 NM NM 4.3% 3.6% Alinma 22 (33) 130 NM NM 0.9% 4.4% AlJazira 142 131 118 -16.7% -9.7% 6.1% 4.0% Albilad 25 49 52 109.6% 4.9% 1.1% 1.8% NCB 476 535 944 98.5% 76.4% 20.3% 32.0% Total 2,340 2,293 2,950 26.1% 28.6% 100.0% 100.0% Source: Company data, Al Rajhi Capital Disclosures Please refer to the important disclosures at the back of this report. 13
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