Alinma Bank announces its Interim Financial Results for the Period Ending on 2024-03-31 ( Three Months )

01 May 2024 06:35 AM

Default Company 1150.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Total Income From Special Commission of Financing	3,338.9	2,439.1	36.89	3,287.9	1.551
Total Income From Special Commission of Investment	460	343.6	33.876	466.2	-1.329
Net Income From Special Commission of Financing	1,768.3	1,520.6	16.289	1,799.1	-1.711
Net Income From Special Commission of Investment	243.6	214.2	13.725	255.1	-4.508
Total Operations Profit (Loss)	2,564.5	2,179.4	17.67	2,568.7	-0.163
Net Profit (Loss) before Zakat and Income Tax	1,465.9	1,081.4	35.555	1,472.1	-0.421
Net Profit/(Loss)	1,314.7	969.9	35.55	1,320.3	-0.424
Total Comprehensive Income	1,307.7	1,300.8	0.53	1,512	-13.511
Total Operating Expenses Before Provisions for Credit and Other Losses	833.5	757.8	9.989	773.6	7.743
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net	264.4	342.5	-22.802	324.3	-18.47
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Assets	244,859.3	213,749.3	14.554
Investments	45,337.6	39,800	13.913
Loans And Advances Portfolio (Financing And Investment)	180,702.4	153,153.3	17.987
Clients' deposits	188,987.8	159,948.5	18.155
Total Shareholder’s Equity (After Deducting The Minority’s Rights)	39,348.1	33,163.6	18.648
Profit (Loss) per Share	0.64	0.46
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is	Income from investments and financing increased mainly due to growth in financing and investments volume and increase in profit rates.
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 17.7%, mainly due to the increase in net income from financing and investment, fee income, FVSI income and other operating income, partly offset with the lower exchange income.
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is	The decrease in impairment charge on financing and other financial assets during the current quarter compared to similar quarter last year is mainly due to decrease in non-performing financing arising from the settlement of impaired accounts and onboarding of better-quality new assets.
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is	Net Income from investments and financing slightly decreased mainly due to higher cost of funding.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is	Net income decreased due to the decrease in net income from financing and investment, exchange income and other operating income partly offset with the higher fee income and FVSI income.
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is	The decrease in impairment charge on financing and other financial assets during the current quarter compared to previous quarter is mainly due to decrease in non-performing financing arising from the settlement of impaired accounts and onboarding of better-quality new assets.
Statement of the type of external auditor's report	Unmodified Conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None
Reclassification of Comparison Items	Some items have been reclassified.
Additional Information	For the calculation of earnings per share, 11.7 million treasury shares have been excluded. Earnings per share is calculated by dividing the net income after zakat for the period ended 31 March 2024 and 31 March 2023 (adjusted for Tier 1 Sukuk costs) by the weighted average number of outstanding shares, which reached 1,988 million shares (2023: 1,992 million shares).

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