2023-10-24 13:19:27
10/24/2023 Numbers – Special
Alinma Bank’s profits increased to 3,518.9 million riyals by the end of the first nine months of 2023, by 28%, compared to profits of 2,738.9 million riyals achieved during the same period in 2022.
Summary of financial results (million)
The bank said that the reason for the increase in profits during the current period compared to a similar period is due to:
– Total operating income increased by 23.1%, mainly due to an increase in net financing and investment income, income from banking services fees, and currency conversion income.
This came despite:
– A decrease in income from investments at fair value through the income statement, and income from other operations.
– Total operating expenses increased by 17.4% compared to the same period of the previous year as a result of the increase in general and administrative expenses, employee salary expenses, rent and depreciation expenses, and expected credit loss expenses.
Quarterly comparison (million)
Previous similar
Compared to the item: Third quarter 2022 Third quarter 2023 Change Net income from investments and financing 1,673.65 2,005.90 19.9% Operating income 2,075.43 2,540.60 22.4% Total allocations (264.20) (306.40) (16.0%) Net income 989.03 1,323.90 3 3.9% Average number of shares 2,000.00 2,000.00 – Earnings per share (halala) 49.45 66.20 33.9% Diluted earnings per share (halala) 47.42 63.18 33.2% Item Two 2023 Third Quarter 2023 Change Net income from investments and financing 1,859.68 2,005.90 7.9% Operating income 2,436.87 2.5 40.60 4.3% Total allocations (325.40) ( 306.40) 5.8% Net income 1,225.08 1,323.90 8.1% Average number of shares 2,000.00 2,000.00 – Earnings per share (halala) 61.25 66.20 8.1% Diluted earnings per share (halala) 58.46 63.18 8.1%
The bank said that the reason for the increase in profits during the current quarter compared to the same quarter of the previous year is due to:
– Total operating income increased by 22.4%, mainly due to the increase in net financing and investment income, income from banking services fees, currency conversion income, and investment income at fair value through the income statement.
This came despite:
– Total operating expenses increased by 10.1% compared to the same quarter of the previous year as a result of the increase in general and administrative expenses, employee salary expenses, rent and depreciation expenses, and expected credit loss expenses.
The bank attributed the reason for the increase in profits during the current quarter compared to the previous quarter to:
– Total operating income increased by 4.3%, mainly due to an increase in net financing and investment income, and income from banking services fees.
This came despite:
– A decrease in currency translation income, investment income at fair value through the income statement, and income from other operations.
Balance sheet (billion)
additional information:
The bank also said that shareholders’ equity (no minority rights – following excluding sukuk) at the end of the period amounted to 28,460.4 million riyals, compared to 26,302.4820 million riyals as at the end of the similar period of the previous year.
Total comprehensive income for the current quarter amounted to 1,116.4 million riyals, compared to total comprehensive income for the same quarter of 772.8 million riyals and compared to total comprehensive income of 1,510.8 million riyals for the previous quarter.
Total comprehensive income for the current period amounted to 3,928 million Saudi riyals, compared to total comprehensive income of 2,332.9 million Saudi riyals for the same period of the previous year.
12.7 million shares were excluded as treasury shares when calculating earnings per share.
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