Alinma Bank announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

27 October 2020 03:26 PM

Default Company 1150.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total Revenue from Special Commissions/Financing & Investments	1,337	1,443	-7.345	1,338	-0.074
Net Income from Special Commissions/Financing & Investments	1,167	1,139	2.458	1,122	4.01
Total Operation Profit (Loss)	1,489	1,441	3.331	1,346	10.624
Net Profit (Loss) before Zakat and Income Tax	715	792	-9.722	636	12.421
Net Profit (Loss)	629	713	-11.781	572	9.965
Total Comprehensive Income	648	739	-12.313	607	6.754
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	4,070	4,099	-0.707
Net Income from Special Commissions/Financing & Investments	3,411	3,181	7.23
Total Operation Profit (Loss)	4,104	4,095	0.219
Net Profit (Loss) before Zakat and Income Tax	1,762	2,251	-21.723
Net Profit (Loss)	1,572	2,026	-22.408
Total Comprehensive Income	1,591	2,119	-24.917
Total Share Holders Equity (after Deducting Minority Equity)	24,039	21,931	9.611
Assets	147,850	128,010	15.498
Investments	26,460	22,745	16.333
Loans and Advances Portfolio (Financing & Investment)	105,325	90,785	16.015
Customer Deposits	111,318	99,837	11.499
Profit (Loss) per Share	0.79	1.02
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 Net Income from Financing and Investments by 3% and the total operating income by 3%, the net income for the quarter decreased by 12% mainly due to the higher impairment charges 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 11% mainly due to the higher income from financing and investments, fee income and other operating income partly offset by the lower exchange income. On the other hand, the total operating expenses increased by 10% mainly due to the higher impairment charges, salaries and other general administrative expenses compared to the previous quarter.
Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to	The Net Profit declined mainly for the higher impairment Charges. The Total Operating Income remained flat as the 7% increase Net Income from Financing and Investments was completely offset by the higher revaluation losses on investments, while the impairment charges and operating expenses registered an increase.
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, 13 million treasury shares have been excluded. Earnings per share is calculated by dividing the net income after zakat for the period ended 30 September 2020 and 30 September 2019 by 1,987 million shares to give a retrospective effect of 33% bonus shares issued in Q2, 2020.

Comments