The combined earnings of Saudi brokerage firms fell 8 percent year-on-year (YoY) to SAR 1.59 billion in 2017, data from the Capital Market Authority (CMA), the Kingdom’s market regulator, showed.

 

The decline was attributed to a YoY decline of 8 percent in revenue to SAR 5.04 billion in the same period.

 

The number of brokerage firms operating in the Kingdom decreased to 82 from 83 in 2016.

 

Income Statement (SAR mln)

Period

 2016

2017

Variation

Revenue

5,492.4

5,042.9

(8%)

Opex

3,672.4

3,372.5

(8%)

Operating income

1,820.0

1,670.3

(8%)

Other income

34.7

57.5

+66%

Profit/loss of minority interest

1.2

0.9

(21%)

Net profit

1,720.6

1,590.0

(8%)

 

Combined assets grew by 4 percent YoY to SAR 28.3 billion. Shareholders’ equity, however, slipped 0.1 percent YoY to SAR 21.46 billion.

 

Balance Sheet (SAR mln)

Period

2016

2017

Variation

Assets

27,274.1

28,342.4

+4%

Liabilities

5,606.3

6,461.4

+23%

Capital

15,921.2

15,437.3

(3%)

Shareholders’ equity

21,475.0

21,459.1

--

 

Brokerage firms completed SAR 1.71 trillion worth of transactions in different equity markets in 2017, a drop of 27 percent YoY.

 

The firms’ transactions accounted for 97.9 percent of total trading activity on the Saudi market.

 

Labor force in brokerage firms declined 2 percent YoY to 4,342 persons in 2017, with the Saudization rate standing at 70 percent in the same period. 

 

Trading Value by Region (SAR mln)

Market

Trading Value

Percent to total trading value

Local Market

1,676,103

97.86%

GCC

2,993

0.17%

Arab countries

256

0.01%

Asia

15

0.00%

US

31,020

1.81%

Europe

1,222

0.07%

Others

1,104

0.16%

Total

1,712,714

100.00%

 

Trading Value by Region (SAR mln)

Market

Trading Value

(SAR mln)

Variation

Percent to total trading value

 

2016

2017

 

Local Market

2,313,975

1,676,103

(28%)

97.86%

GCC

4,685

2,993

(36%)

0.17%

Arab countries

101

256

+153%

0.01%

Asia

16

15

(6%)

0.00%

US

24,304

31,020

+28%

1.81%

Europe

710

1,222

+72%

0.07%

Others

852

1,104

+30%

0.16%

Total

2,344,641

1,712,714

(7%)

100.00%

 

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