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Bank AlJazira announces its Interim Financial Results for the Period Ended on 31-03-2022 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total income from Special Commissions/Financing & Investments 821.4737.111.4368170.538
Net Income from Special Commissions/Financing & Investments 700.7643.88.838676.13.638
Total Operation Profit (Loss) 986.2945.44.31589510.189
Net Profit (Loss) before Zakat and Income Tax 417.5363.614.823271.453.831
Net Profit (Loss) 374.9321.616.573228.863.854
Total Comprehensive Income 269.4361.6-25.497244.810.049
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 13,85711,72618.173
Assets 104,31794,58310.291
Investments 31,94129,0509.951
Loans and Advances Portfolio (Financing & Investment) 63,26555,17514.662
Clients' deposits 79,27770,68112.161
Profit (Loss) per Share 0.430.39
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 has increased by 17% mainly due to a decrease in net impairment charge for financing and other financial assets by 38% and an increase in operating income by 4%. The increase in operating income is mainly due to an increase in net financing and investment income, other operating income and net gains on derecognition of financial assets at FVOCI against a decrease in net gains on derecognition of financial assets at amortised cost, net fees from banking services and net gains on FVIS financial instruments. On the other hand, total operating expenses without impairment charge have increased by 10% mainly due to an increase in other general and administrative expenses and salaries and employee-related expenses against a decrease in depreciation and amortization expenses and other operating expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Net income has increased by 64% mainly due to an increase in operating income by 10% and a decrease in net impairment charge for financing and other financial assets by 39%. The increase in operating income is mainly due to an increase in other operating income, net financing and investment income, net gains on derecognition of financial assets at amortised cost, net gains on derecognition of financial assets at FVOCI, net fees from banking services and net gains on FVIS financial instruments against a decrease in net exchange income. On the other hand, total operating expenses without impairment charge have increased by 2% mainly due to an increase in other general and administrative expenses against a decrease in salaries and employee-related expenses and other operating expenses.
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 re-classified to conform to current period presentation.
Additional Information 1- Net Impairment charge for financing and other financial assets for current quarter is SR 94.0 million as compared to SR 152.8 million in similar quarter of previous year, a decrease of 38%. And as compared to SR 155.4 million in the previous quarter with a decrease of 39%.

2- Earnings per share for the current and prior period have been calculated by dividing net income for the period after Zakat and income tax (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding i.e. 820 million shares.

3- During Q2 2021, the Bank issued Tier 1 Sukuk amounting to SAR 1.875 billion (denominated in US Dollars) which is included as a part of total Equity.

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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