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Al Rajhi Bank announces its Annual Financial results for the Period Ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 33,527 | 25,123 | 33.45 | ||
| Total Income From Special Commission of Investment | 5,211 | 3,079 | 69.24 | ||
| Net Income From Special Commission of Financing | 19,192 | 20,123 | -4.63 | ||
| Net Income From Special Commission of Investment | 2,077 | 2,050 | 1.32 | ||
| Total Operations Profit (Loss) | 27,531 | 28,575 | -3.65 | ||
| Net Profit (Loss) before Zakat and Income Tax | 18,529 | 19,123 | -3.11 | ||
| Net profit (Loss) | 16,621 | 17,151 | -3.09 | ||
| Total Comprehensive Income | 16,955 | 16,640 | 1.89 | ||
| Assets | 808,098 | 761,619 | 6.1 | ||
| Investments | 133,376 | 101,325 | 31.63 | ||
| Loans And Advances Portfolio (Financing And Investment) | 594,205 | 568,338 | 4.55 | ||
| Clients' deposits | 573,101 | 564,925 | 1.45 | ||
| Total Shareholder’s Equity (After Deducting The Minority’s Rights) | 106,759 | 100,225 | 6.52 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 7,498 | 7,451 | 0.63 | ||
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 1,504 | 2,001 | -24.84 | ||
| Profit (Loss) per Share | 3.95 | 4.24 | |||
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the special commission income during the current year compared to the last year is | Net financing and investment income decreased by 4.1% caused by an increase in gross financing and investment return, while there was an increase in gross financing and investment income. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income decreased due to a decrease in total operating income by 3.7% caused by a decrease in net financing and investment income and fees from banking services, while there was an increase in exchange income and other operating income. In contrast, total operating expenses including impairment charges for financing decreased by 4.8% due to a decrease in net impairment charges for financing and other financial assets, and general and administrative expenses, while there was an increase in depreciation and amortization expense and salaries and employees’ related benefits. |
| The reason of the increase (decrease) in the total net provision of expected credit losses and other losses (reversing entry) during the current year compared to the last year is | Net impairment charges for financing and other financial assets reduced due to lower impairment provided for the period by 6.5% and higher recoveries from written off financing by 20.7% |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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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