Alinma Bank announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 1,349 | 1,395 | -3.297 | 1,400 | -3.642 |
| Net Income from Special Commissions/Financing & Investments | 1,204 | 1,121 | 7.404 | 1,237 | -2.667 |
| Total Operation Profit (Loss) | 1,619 | 1,268 | 27.681 | 1,631 | -0.735 |
| Net Profit (Loss) before Zakat and Income Tax | 716 | 411 | 74.209 | 439 | 63.097 |
| Net Profit (Loss) | 642 | 370 | 73.513 | 394 | 62.944 |
| Total Comprehensive Income | 647 | 336 | 92.559 | 389 | 66.323 |
| 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) | 25,081 | 22,779 | 10.105 |
| Assets | 159,951 | 138,021 | 15.888 |
| Investments | 28,819 | 24,621 | 17.05 |
| Loans and Advances Portfolio (Financing & Investment) | 117,149 | 97,784 | 19.803 |
| Clients' deposits | 120,707 | 103,874 | 16.205 |
| Profit (Loss) per Share | 0.32 | 0.19 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income increased due to the increase in total operating income by 27.7%, mainly due to the increase in net financing and investment income, FVIS investment income, fee income, and other operating income.
In the other hand, the total operating expenses increased due to the increase in general and administrative expenses and salaries expenses, partly offset by the decrease in the depreciation expense. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | Net income increased due to the decrease in the credit impairment charges from SAR 650 million to SAR 344 million or 47.1%. In the other hand, the total operating expenses increased due to the higher salaries expenses, partly offset by the decrease in general and administrative and depreciation expenses.
In contrast, the total operating income decreased by 0.7% mainly due to the decrease in the net financing and investment income by 2.6%, which was partly offset by increase in income from FVIS investment, foreign exchange income, and other operating income. |
| Statement of the type of external auditor's report | 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, 12.6 million treasury shares have been excluded.
Earnings per share is calculated by dividing the net income after zakat for the period ended 31 March 2021 and 31 March 2020 by 1,987 million shares to give a retrospective effect of the bonus shares issuance. |
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