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Alinma Bank announces its Interim Financial Results for the Period Ending on 2024-06-30 ( Six Months )

1150
ALINMA
-0.37 %
1446/02/01     05/08/2024 08:01:36

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Income From Special Commission of Financing 3,488.82,774.925.7273,338.94.489
Total Income From Special Commission of Investment 472.9401.117.94602.804
Net Income From Special Commission of Financing 1,8941,624.816.5681,768.37.108
Net Income From Special Commission of Investment 256.7234.99.28243.65.377
Total Operations Profit (Loss) 2,745.72,436.912.6712,564.57.065
Net Profit (Loss) before Zakat and Income Tax 1,579.41,365.915.631,465.97.742
Net Profit/(Loss) 1,416.61,225.115.6311,314.77.75
Total Comprehensive Income 1,355.91,510.8-10.2521,307.73.685
Total Operating Expenses Before Provisions for Credit and Other Losses 834.1746.611.719833.50.071
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 326.6325.40.368264.423.524
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Income From Special Commission of Financing 6,827.65,21430.947
Total Income From Special Commission of Investment 932.9744.725.271
Net Income From Special Commission of Financing 3,662.33,145.216.44
Net Income From Special Commission of Investment 500.4449.211.398
Total Operations Profit (Loss) 5,310.24,616.315.031
Net Profit (Loss) before Zakat and Income Tax 3,045.32,447.324.435
Net profit (Loss) 2,731.32,19524.432
Total Comprehensive Income 2,663.62,811.6-5.263
Assets 260,138.4226,90014.648
Investments 46,630.640,116.516.237
Loans And Advances Portfolio (Financing And Investment) 189,912161,773.117.394
Clients' deposits 205,356.6177,873.815.45
Total Shareholders Equity (after Deducting Minority Equity) 40,037.332,976.621.411
Total Operating Expenses Before Provisions for Credit and Other Losses 1,667.61,504.410.848
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 591667.9-11.513
Profit (Loss) per Share 1.060.84
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 Income from investments and financing increased mainly due to growth in financing and investments volume and increase in profit rates.
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 12.7%, 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.
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 Impairment charge on financing and other financial assets increased compared to similar quarter last year mainly due to the growth in financing and investments portfolio.
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is Income from investments and financing increased mainly due to growth in financing and investments volume and increase in profit rates.
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 the increase in total operating income by 7.1%, mainly due to the increase in net income from financing and investment, fee income, FVSI income and exchange income, partly offset with the lower other operating income.
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 Impairment charge on financing and other financial assets increased compared to last quarter mainly due to the growth in financing and investments portfolio.
The reason of the increase (decrease) in special commission income during the current period compared to the same period of the last year is Income from investments and financing increased mainly due to growth in financing and investments volume and increase in profit rates.
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 15%, mainly due to the increase in net income from financing and investment, fee income, FVSI income and exchange income, partly offset with the lower other operating income.
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 decrease in impairment charge on financing and other financial assets during the current period compared to similar period last year is mainly due to decrease in non-performing financing arising from the settlement of impaired accounts and onboarding of better-quality new assets.
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) None
Reclassification of Comparison Items Some items have been reclassified.
Additional Information For the calculation of earnings per share, 14.5 million treasury shares have been excluded.

Earnings per share is calculated by dividing the net income after zakat for the period ended 30 June 2024 and 30 June 2023 (adjusted for Tier 1 Sukuk costs) by the weighted average number of outstanding shares, which reached 2,485 million shares (2023: 2,489 million shares, restated to reflect the issuance of bonus 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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