Saudi Home Loans Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 75,939,667 | 75,992,031 | -0.068 | 70,364,225 | 7.923 |
| Net Income from Special Commissions/Financing & Investments | 56,888,202 | 57,146,162 | -0.451 | 52,036,749 | 9.323 |
| Total Operation Profit (Loss) | 56,888,202 | 57,146,162 | -0.451 | 52,036,749 | 9.323 |
| Net Profit (Loss) before Zakat and Income Tax | 35,851,028 | 34,051,188 | 5.285 | 24,999,754 | 43.405 |
| Net Profit (Loss) | 32,357,040 | 29,470,002 | 9.796 | 20,093,365 | 61.033 |
| Total Comprehensive Income | 32,291,221 | 29,344,574 | 10.041 | 20,298,905 | 59.078 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 1,722,225,349 | 1,615,410,987 | 6.612 |
| Assets | 4,394,079,128 | 4,509,614,623 | -2.561 |
| Investments | 892,850 | 892,850 | - |
| Loans and Advances Portfolio (Financing & Investment) | 4,119,081,794 | 4,193,847,667 | -1.782 |
| Clients' deposits | - | - | - |
| Profit (Loss) per Share | 0.32 | 0.29 | |
| All figures are in (Actual) 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 profit of the company is SR 32.4 million compared to SR 29.5 million for the same period last year with increase of 9.8%, the reason for the increase is due to recognized gain from the increase in the fair value of the financial derivatives (Hedging) against future interest cost changes. |
| 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 profit after Zakat for the current quarter increased by SR 12.3 million (61%) compared with last quarter, the main reason of this increase is due recognized gain from the increase in the fair value of the financial derivatives related to the hedging arrangements against future interest cost changes, in addition to the reversal of credit loss provision. |
| 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 | None |
| Additional Information | The company did not receive any Deposit taking is this period and therefore it is not applicable
Expected credit loss provision as end of 31 March 2022 is SR 55 million compared to SR 77.9 million for the same period last year with a decrease of 41.6%.
Net income from special commission amount represents the difference between total income from special commission and the finance charge amount. |
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