Al Rajhi Bank announces its Interim Financial Results for the Period Ending on 2024-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 10,291 | 8,620 | 19.385 | 9,476 | 8.6 |
| Total Income From Special Commission of Investment | 1,859 | 1,350 | 37.703 | 1,762 | 5.505 |
| Net Income From Special Commission of Financing | 5,720 | 4,881 | 17.189 | 5,190 | 10.211 |
| Net Income From Special Commission of Investment | 677 | 520 | 30.192 | 667 | 1.499 |
| Total Operations Profit (Loss) | 8,439 | 6,873 | 22.784 | 7,637 | 10.501 |
| Net Profit (Loss) before Zakat and Income Tax | 5,681 | 4,633 | 22.62 | 5,226 | 8.706 |
| Net Profit/(Loss) | 5,103 | 4,155 | 22.815 | 4,698 | 8.62 |
| Total Comprehensive Income | 5,934 | 3,887 | 52.662 | 4,609 | 28.748 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,070 | 1,860 | 11.29 | 1,956 | 5.828 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 688 | 379 | 81.53 | 455 | 51.208 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Income From Special Commission of Financing | 28,979 | 24,296 | 19.274 |
| Total Income From Special Commission of Investment | 5,211 | 3,737 | 39.443 |
| Net Income From Special Commission of Financing | 15,969 | 14,162 | 12.759 |
| Net Income From Special Commission of Investment | 1,933 | 1,558 | 24.069 |
| Total Operations Profit (Loss) | 23,305 | 20,481 | 13.788 |
| Net Profit (Loss) before Zakat and Income Tax | 15,821 | 13,882 | 13.967 |
| Net profit (Loss) | 14,206 | 12,451 | 14.095 |
| Total Comprehensive Income | 14,602 | 12,280 | 18.908 |
| Assets | 902,571 | 800,799 | 12.708 |
| Investments | 160,753 | 127,798 | 25.786 |
| Loans And Advances Portfolio (Financing And Investment) | 649,024 | 590,826 | 9.85 |
| Clients' deposits | 622,572 | 565,719 | 10.049 |
| Total Shareholders Equity (after Deducting Minority Equity) | 117,778 | 102,280 | 15.152 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 5,920 | 5,500 | 7.636 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 1,564 | 1,099 | 42.311 |
| Profit (Loss) per Share | 3.38 | 2.96 | |
| 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 | Net financing and investment income Increased by 18.4% caused by an increase in gross financing and investment income, while there was an increase in gross financing and investment return. |
| 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 an increase in total operating income by 22.8%caused by an increase in net financing and investment income, fees from banking services, other operating income and exchange income.
In contrast, the total operating expenses including impairment charges for financing increased by 23.1% due to an increase in depreciation expense, salaries and employees’ related benefits and other general and administrative expenses. In addition, there was an increase in impairment charge for financing from SAR 379 million to SAR 688 million by 81.5%. |
| 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 increase in the net provision for expected credit losses is attributed to the increase in gross charge by 58.1% coupled with a rise in recoveries from written off financing by 33.8% compared to the same quarter of the last year. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | Net financing and investment income Increased by 9.2% caused by an increase in gross financing and investment income, while there was an increase in gross financing and investment return. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Net income increased due to an increase in total operating income by 10.5% caused by an increase in net financing and investment income, other operating income, fees from banking services and exchange income.
In contrast, the total operating expenses including impairment charges for financing increased by 14.4% due to an increase in other general and administrative expenses, salaries and employees’ related benefits and depreciation expense. In addition, there was an increase in impairment charge for financing from SAR 455 million to SAR 688 million by 51.2%. |
| 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 increase in the net provision for expected credit losses is attributed to the increase in gross charge by 50.5% coupled with a rise in recoveries from written off financing by 49.3% compared to last quarter. |
| The reason of the increase (decrease) in special commission income during the current period compared to the same period of the last year is | Net financing and investment income Increased by 13.9% caused by an increase in gross financing and investment income, while there was an increase in gross financing and investment return. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net income increased due to an increase in total operating income by 13.8% caused by an increase in net financing and investment income, other operating income, fees from banking services and exchange income.
In contrast, the total operating expenses including impairment charges for financing increased by 13.4% due to an increase in depreciation expense and salaries and employees’ related benefits, while there was a decrease in other general and administrative expenses. In addition, there was an increase in impairment charge for financing from SAR 1,099 million to SAR 1,564 million by 42.3%. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current period compared to the same period of the last year is | The increase in the net provision for expected credit losses is attributed to the increase in gross charge by 22.9% coupled with a rise in recoveries from written off financing by 3.7% compared to the same period of the last year. |
| 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) | N/A |
| Reclassification of Comparison Items | Some items have been re-classified |
| Additional Information | - |
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