Alinma Bank announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

05 August 2020 08:56 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	1,338	1,365	-1.978	1,395	-4.086
Net Income from Special Commissions/Financing & Investments	1,122	1,066	5.253	1,121	0.089
Total Operation Profit (Loss)	1,346	1,364	-1.319	1,268	6.151
Net Profit (Loss) before Zakat and Income Tax	636	751	-15.312	411	54.744
Net Profit (Loss)	572	676	-15.384	370	54.594
Total Comprehensive Income	607	722	-15.927	336	80.654
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	2,733	2,655	2.937
Net Income from Special Commissions/Financing & Investments	2,243	2,042	9.843
Total Operation Profit (Loss)	2,615	2,654	-1.469
Net Profit (Loss) before Zakat and Income Tax	1,048	1,459	-28.169
Net Profit (Loss)	943	1,314	-28.234
Total Comprehensive Income	943	1,380	-31.666
Total Share Holders Equity (after Deducting Minority Equity)	23,386	21,179	10.42
Assets	142,196	123,479	15.158
Investments	25,876	21,288	21.552
Loans and Advances Portfolio (Financing & Investment)	103,178	87,667	17.693
Customer Deposits	107,417	92,816	15.731
Profit (Loss) per Share	0.47	0.66
All figures are in (Millions) Saudi Arabia, Riyals

	Capital
	20,000,000
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 in the income from financing and investments by 5%, the net profit for the quarter has declined due to the decline in the total operating income by 1.3% as a result of the decrease in fee income in addition to the revaluation loss on FVSI investments. On the other hand, the total operating expenses increased mainly due the higher impairment charges, salaries and general administrative expenses compared to similar quarter last year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The increase is mainly due to the increase in total operating income by 6% due to the lower revaluation loss from FVSI investments partly offset by the lower fee income. In addition, the total operating expenses decreased due to the lower imparment charges compared to the previous quarter.
Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to	Despite the increase in the income from financing and investments by 10% and the increase in exchange income by 29%, the net profit for the period has declined due to slightly decline in the total operating income by 1% mainly for losses on revaluation of investments and lower fee income . In addition, the total operating expenses increased mainly due the higher impairment charges, salaries and general administrative expenses compared to similar quarter last year.
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. Earnings per share is calculated by dividing the net income after zakat for the period ended 30 June 2020 and 30 June 2019 by 1,987 million shares to give a retrospective effect of increase in the number of shares as a result of the recent 33% bonus issue of shares.

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