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Al Rajhi Bank announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 9,296 | 6,480 | 43.46 | 8,768 | 6.02 |
| Net Income from Special Commissions/Financing & Investments | 5,194 | 5,567 | -6.7 | 5,125 | 1.35 |
| Total Operation Profit (Loss) | 6,827 | 7,148 | -4.49 | 6,781 | 0.68 |
| Net Profit (Loss) before Zakat and Income Tax | 4,627 | 4,747 | -2.53 | 4,622 | 0.11 |
| Net Profit (Loss) | 4,150 | 4,258 | -2.54 | 4,145 | 0.12 |
| Total Comprehensive Income | 4,189 | 3,629 | 15.43 | 4,205 | -0.38 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 360 | 580 | -37.93 | 359 | 0.28 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 1,840 | 1,820 | 1.1 | 1,800 | 2.22 |
| 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 | 18,063 | 12,371 | 46.01 |
| Net Income from Special Commissions/Financing & Investments | 10,319 | 10,907 | -5.39 |
| Total Operation Profit (Loss) | 13,608 | 14,104 | -3.52 |
| Net Profit (Loss) before Zakat and Income Tax | 9,249 | 9,357 | -1.15 |
| Net Profit (Loss) | 8,295 | 8,392 | -1.16 |
| Total Comprehensive Income | 8,394 | 8,161 | 2.85 |
| Total Share Holders Equity (excluding Non-Controlling Interest) | 103,187 | 81,913 | 25.97 |
| Assets | 784,520 | 709,278 | 10.61 |
| Investments | 121,420 | 96,618 | 25.67 |
| Loans and Advances Portfolio (Financing & Investment) | 579,080 | 519,701 | 11.43 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 719 | 1,159 | -37.96 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 3,640 | 3,589 | 1.42 |
| Clients' deposits | 570,665 | 552,957 | 3.2 |
| Profit (Loss) per Share | 1.97 | 2.08 | |
| 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 decreased due to a decrease in total operating income by 4.5 % caused by a decrease in net financing and investment income, fees from banking services, and exchange income, while there was an increase in other operating income. In contrast, the total operating expenses including impairment charges for financing decreased by 8.4% due to a decrease in other general and administrative expenses, while there was an increased in salaries and employees’ related benefits, and depreciation expense. In addition, there was a decrease in impairment charge for financing from SAR 580 million to SAR 360 million by 37.9%. |
| 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 an increase in total operating income by 0.7% caused by an increase in net financing and investment income and other operating income, while there was a decrease in fees from banking services and income from foreign currency exchange. In contrast, the total operating expenses including impairment charges for financing Increased by 1.9% due to 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 359 million to SAR 360 million by 0.3%. |
| 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 decreased due to a decrease in total operating income by 3.5% caused by a decrease in net financing and investment income, while there was an increase in exchange income, fees from banking services, and other operating income. In contrast, the total operating expenses including impairment charges for financing decreased by 8.2% 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 a decrease in impairment charge for financing from SAR 1,159 million to SAR 719 million by 38.0%. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Reclassification of Comparison Items | Some items have been re-classified |
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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