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

1120
ALRAJHI
0.38 %
1445/10/20     29/04/2024 08:25:11

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Income From Special Commission of Financing 9,2137,64320.5419,230-0.184
Total Income From Special Commission of Investment 1,5901,12541.3331,4747.869
Net Income From Special Commission of Financing 5,0594,6249.4075,0390.396
Net Income From Special Commission of Investment 58850117.36551115.068
Total Operations Profit (Loss) 7,2296,7816.6067,0512.524
Net Profit (Loss) before Zakat and Income Tax 4,9144,6226.3174,6475.745
Net Profit/(Loss) 4,4054,1456.2724,1715.61
Total Comprehensive Income 4,0604,205-3.4484,675-13.155
Total Operating Expenses Before Provisions for Credit and Other Losses 1,8941,8005.2221,998-5.205
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 42135917.274063.694
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Assets 835,992775,7967.759
Investments 142,072113,92624.705
Loans And Advances Portfolio (Financing And Investment) 608,990577,0115.542
Clients' deposits 603,978556,1978.59
Total Shareholder’s Equity (After Deducting The Minority’s Rights) 108,27299,2279.115
Profit (Loss) per Share 1.050.99
All figures are in (Millions) Saudi Arabia, Riyals


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


Element ListExplanation
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 10.2% 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 same quarter of the last year is Net income increased due to an increase in total operating income by 6.6% caused by an increase in net financing and investment income and other operating income, while there was a decreased in fees from banking services and exchange income. In contrast, the total operating expenses including impairment charges for financing increased by 7.2% 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 359 million to SAR 421 million by 17.3%.
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 1.8% coupled with a reduction in recoveries from written off financing by 12.6% 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 1.8% 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 2.5% caused by an increase in net financing and investment income, other operating income and fees from banking services, while there was a decrease in exchange income. In contrast, the total operating expenses including impairment charges for financing decreased by 3.7% due to a decrease in other general and administrative expenses, while there was an increase in salaries and employees’ related benefits and depreciation expense. In addition, there was an increase in impairment charge for financing from SAR 406 million to SAR 421 million by 3.8%.
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 reduction in recoveries from written off financing by 33.9% while gross charge decreased by 17.3% compared to last quarter.
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 -

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 80.1
Net Change 0.3 (+0.38%)
Value Traded (Sar) 179,267,714
Volume Traded 2,240,739
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