Alinma Bank announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

17 May 2020 09:03 AM

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total Revenue from Special Commissions/Financing & Investments	1,395	1,290	8.139	1,458	-4.32
Net Income from Special Commissions/Financing & Investments	1,121	976	14.856	1,161	-3.445
Total Operation Profit (Loss)	1,268	1,290	-1.705	1,515	-16.303
Net Profit (Loss) before Zakat and Income Tax	411.4	708.5	-41.933	565	-27.185
Net Profit (Loss)	370	638	-42.006	509	-27.308
Total Comprehensive Income	336	658	-48.936	509	-33.988
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)	22,779	20,459	11.339
Assets	138,021	121,794	13.323
Investments	24,621	20,728	18.781
Loans and Advances Portfolio (Financing & Investment)	97,784	85,877	13.865
Customer Deposits	103,874	92,261	12.587
Profit (Loss) per Share	0.25	0.43
All figures are in (Millions) Saudi Arabia, Riyals

	Capital
	15,000,000
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	Despite the increase of the income from financing and investments by 15%, the net income for the quarter decreased due to the increase in the operating expenses by 48% mainly due the higher impairment charges compared to similar quarter last year, and the revaluation loss on investments.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	Despite the 11% decline in Operating Expenses, the Net income for the quarter decreased due to the lower total operating income by 16% mainly due to the revaluation loss from FVSI investments and lower financing and investments income by 4%.
Basis of the External Auditor's Opinion	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	Some items have been reclassified.
Additional Information	For calculation of earning per share, 10 million treasury shares have been excluded. Starting from the quarter ended June 2019, and in accordance with the SAMA directives dated July 17, 2019, the Bank changed its accounting policy for reporting zakat. Accordingly, the Bank has reported zakat through the statement of income for Q1 2020 and restated Q1 2019. Previously zakat was reported in the statement of changes in shareholders’ equity.

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