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Bank AlJazira announces its Interim Financial Results for the Period Ended on 31-03-2022 ( Three Months )

BJAZ 1020 2.81% 16.82 0.46
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Total income from Special Commissions/Financing & Investments 821.4 737.1 11.436 817 0.538
Net Income from Special Commissions/Financing & Investments 700.7 643.8 8.838 676.1 3.638
Total Operation Profit (Loss) 986.2 945.4 4.315 895 10.189
Net Profit (Loss) before Zakat and Income Tax 417.5 363.6 14.823 271.4 53.831
Net Profit (Loss) 374.9 321.6 16.573 228.8 63.854
Total Comprehensive Income 269.4 361.6 -25.497 244.8 10.049
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) 13,857 11,726 18.173
Assets 104,317 94,583 10.291
Investments 31,941 29,050 9.951
Loans and Advances Portfolio (Financing & Investment) 63,265 55,175 14.662
Clients' deposits 79,277 70,681 12.161
Profit (Loss) per Share 0.43 0.39
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 has increased by 17% mainly due to a decrease in net impairment charge for financing and other financial assets by 38% and an increase in operating income by 4%. The increase in operating income is mainly due to an increase in net financing and investment income, other operating income and net gains on derecognition of financial assets at FVOCI against a decrease in net gains on derecognition of financial assets at amortised cost, net fees from banking services and net gains on FVIS financial instruments. On the other hand, total operating expenses without impairment charge have increased by 10% mainly due to an increase in other general and administrative expenses and salaries and employee-related expenses against a decrease in depreciation and amortization expenses and other operating expenses.
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 has increased by 64% mainly due to an increase in operating income by 10% and a decrease in net impairment charge for financing and other financial assets by 39%. The increase in operating income is mainly due to an increase in other operating income, net financing and investment income, net gains on derecognition of financial assets at amortised cost, net gains on derecognition of financial assets at FVOCI, net fees from banking services and net gains on FVIS financial instruments against a decrease in net exchange income. On the other hand, total operating expenses without impairment charge have increased by 2% mainly due to an increase in other general and administrative expenses against a decrease in salaries and employee-related expenses and other operating expenses.
Statement of the type of external auditor's report Unmodified Conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items Some items have been re-classified to conform to current period presentation.
Additional Information 1- Net Impairment charge for financing and other financial assets for current quarter is SR 94.0 million as compared to SR 152.8 million in similar quarter of previous year, a decrease of 38%. And as compared to SR 155.4 million in the previous quarter with a decrease of 39%.

2- Earnings per share for the current and prior period have been calculated by dividing net income for the period after Zakat and income tax (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding i.e. 820 million shares.

3- During Q2 2021, the Bank issued Tier 1 Sukuk amounting to SAR 1.875 billion (denominated in US Dollars) which is included as a part of total Equity.

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