Al Rajhi Bank announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Revenue from Special Commissions/Financing & Investments | 4,282 | 3,811 | 12.358 | 4,183 | 2.366 |
| Net Income from Special Commissions/Financing & Investments | 4,164 | 3,682 | 13.09 | 4,061 | 2.536 |
| Total Operation Profit (Loss) | 4,981 | 4,383 | 13.643 | 4,861 | 2.468 |
| Net Profit (Loss) | 2,829 | 2,516 | 12.44 | 2,580 | 9.651 |
| Total Comprehensive Income | 2,791 | 2,435 | 14.62 | 2,544 | 9.709 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Revenue from Special Commissions/Financing & Investments | 12,551 | 11,038 | 13.707 |
| Net Income from Special Commissions/Financing & Investments | 12,168 | 10,676 | 13.975 |
| Total Operation Profit (Loss) | 14,481 | 12,814 | 13.009 |
| Net Profit (Loss) | 8,006 | 7,296 | 9.731 |
| Total Comprehensive Income | 8,033 | 7,219 | 11.275 |
| Total Share Holders Equity (after Deducting Minority Equity) | 49,181 | 51,975 | -5.375 |
| Assets | 368,284 | 355,581 | 3.572 |
| Investments | 45,946 | 47,855 | -3.989 |
| Loans and Advances Portfolio (Financing & Investment) | 244,586 | 232,024 | 5.414 |
| Customer Deposits | 298,811 | 288,836 | 3.453 |
| Profit (Loss) per Share | 3.2 | 2.92 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to Same Quarter Last Year is Attributed to | Net income has increased due to an increase in total operating income by 13.6% caused by an increase in net special commission income, fees from banking services, exchange income and other operating income. In contrast, the total operating expense increased by 1.5% due to an increase in depreciation and other general and administrative expenses. In contrast, there was decrease in impairment charge for financing from 417.3 to 332.3 by %20.4. Also, there was a decrease in salaries and employees related benefits expenses. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | Net income has increased because of an increase in total operating Income by %2.5 due to an increase in net special commission income, fees from banking services and exchange income. However, there was a decrease in other operating income. In contrast, the total operating expense has decreased by 7.8% due to a decrease in salaries and employees related benefits expenses, other general and administrative expenses. In addition, there was decrease in impairment charge for financing from 385.6 to 332.3 by %13.8. While, there was an increase in depreciation. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to | Net income has increased due to an increase in total operating income by 13.0% caused by an increase in net special commission income, fees from banking services, exchange income and other operating income. On the other hand, the total operating expense increased by 5.6% due to an increase in other general and administrative expenses and depreciation. In contrast, there was a decrease in impairment charge for financing from 1,201 to 1,107 by %7.8, along with the salaries and employee related benefits. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Some items have been re-classified |
| Additional Information | Starting from the quarter ended 30 June 2019, Zakat and tax are to be accrued on a quarterly basis and recognized in consolidated statement of income with a corresponding liability recognized in the consolidated statement of financial position in accordance with International Financial Reporting Standard (IFRS) and other standards and pronouncements endorsed by SOCPA.
Net Income for the three-months period ended in 30 September 2019 before zakat is SAR 3,144 million as compared to SAR 2,573 million in corresponding quarter of last year, with an increase of 22.2% and compared to SAR 2,867 million for the three months ended in 30 June 2019, with an increase of 9.7%.
Net Income for the nine-month period ended in 30 September 2019 before zakat is SAR 8,896 million as compared to SAR 7,524 million in corresponding period of last year, with an increase of 18.2%.
Net Income for the three-months period ended in 30 September 2019 after zakat is SAR 2,829 million as compared to SAR 2,516 million in corresponding quarter of last year, with an increase of 12.4% and compared to SAR 2,580 million for the three months ended in 30 June 2019, with an increase of 9.7%.
Net Income for the nine-month period ended in 30 September 2019 after zakat is SAR 8,006 million as compared to SAR 7,296 million in corresponding period of last year, with an increase of 9.7%.
Earnings per share is calculated by dividing the net income after zakat for the period ended 30 September 2018 and 30 September 2019 by 2,500 million shares to give a retroactive effect of change in the number of shares increased as a result of the bonus shares issued. |
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