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Alinma Bank announce the Financial Results For the period ended 30 Jun 2023 – Six months
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 3,176.1 | 1,652.6 | 92.19 | 2,782.7 | 14.14 |
| Net Income from Special Commissions/Financing & Investments | 1,859.7 | 1,413.5 | 31.57 | 1,734.8 | 7.2 |
| Total Operation Profit (Loss) | 2,436.9 | 1,932.1 | 26.13 | 2,179.4 | 11.81 |
| Net Profit (Loss) before Zakat and Income Tax | 1,365.9 | 1,031.4 | 32.43 | 1,081.4 | 26.31 |
| Net Profit (Loss) | 1,225.1 | 925.1 | 32.43 | 969.9 | 26.31 |
| Total Comprehensive Income | 1,510.8 | 761 | 98.53 | 1,300.8 | 16.14 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 325.4 | 239.9 | 35.64 | 342.5 | -4.99 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 746.6 | 663.2 | 12.57 | 757.8 | -1.48 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 5,958.7 | 3,126.8 | 90.57 |
| Net Income from Special Commissions/Financing & Investments | 3,594.4 | 2,725 | 31.9 |
| Total Operation Profit (Loss) | 4,616.3 | 3,739.7 | 23.44 |
| Net Profit (Loss) before Zakat and Income Tax | 2,447.3 | 1,951 | 25.44 |
| Net Profit (Loss) | 2,195 | 1,749.8 | 25.44 |
| Total Comprehensive Income | 2,811.6 | 1,560.1 | 80.22 |
| Total Share Holders Equity (excluding Non-Controlling Interest) | 32,976.6 | 31,467.1 | 4.8 |
| Assets | 226,900.4 | 184,621.8 | 22.9 |
| Investments | 40,116.5 | 37,720.3 | 6.35 |
| Loans and Advances Portfolio (Financing & Investment) | 161,773.1 | 131,192.7 | 23.31 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 667.9 | 483.3 | 38.2 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 1,504.4 | 1,305.5 | 15.23 |
| Clients' deposits | 177,873.8 | 130,376 | 36.43 |
| Profit (Loss) per Share | 1.05 | 0.85 | |
| All figures are in (Millions) 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 income increased due to the increase in total operating income by 26.1%, mainly due to the increase in net income from financing and investment, fee income and exchange income, partly offset with the lower FVSI income. In the other hand, the total operating expenses were 18.7% higher than the similar quarter last year mainly due to the higher general and administrative expenses, salaries expenses, rents, depreciation, and impairment charge for expected credit losses. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net income increased due to the increase in total operating income by 11.8%, mainly due to the increase in net income from financing and investment, exchange income, fee income, FVIS investments income and other operating income. In the other hand, the total operating expenses decreased by 2.6% mainly due to the lower impairment charge for expected credit losses, general and administrative expenses and salaries expenses partly offset with higher depreciation expense. |
| 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 the increase in total operating income by 23.4%, mainly due to the increase in net income from financing and investment, fee income and exchange income, partly offset with the lower FVSI income and other operating income. In the other hand, the total operating expenses were 21.4% higher than the similar period last year mainly due to the higher general and administrative expenses, salaries expenses, rents, depreciation, and impairment charge for expected credit losses. |
| 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 | Some items have been reclassified. |
| Additional Information | For the calculation of earnings per share, 12.8 million treasury shares have been excluded. Earnings per share is calculated by dividing the net income after zakat for the period ended 30 June 2023 and 30 June 2022 (adjusted for Tier 1 Sukuk costs) by the weighted average number of outstanding shares, which reached 1,991.2 million shares (2022: 1,989.2 million shares). |
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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