Riyadh on 24/02/2020
|
ELEMENT LIST |
Current YEAR |
PREVIOUS YEAR |
% Change |
|
Total Revenue from Special Commissions/Financing & Investments |
3,262 |
3,902 |
-16.402 |
|
Net Income from Special Commissions/Financing & Investments |
2,322 |
2,278 |
1.932 |
|
Total Operation Profit (Loss) |
2,846 |
2,818 |
0.994 |
|
Net Profit (Loss) before Zakat and Income Tax |
1,229 |
330 |
272.424 |
|
Net Profit (Loss) |
980 |
239 |
310.042 |
|
Total Comprehensive Income |
1,442 |
761 |
89.449 |
|
Total Share Holders Equity (after deducting minority equity) |
13,331 |
12,007 |
11.027 |
|
Assets |
99,885 |
100,815 |
-0.922 |
|
Investments |
30,514 |
26,175 |
16.577 |
|
Loans and Advances Portfolio (Financing & Investment) |
55,074 |
57,113 |
-3.570 |
|
Customer Deposits |
60,144 |
69,058 |
-12.908 |
|
Profit (Loss) per Share |
1.28 |
0.17 |
|
All figures are in (Millions) Saudi Arabia, Riyals
|
Element |
Explanation |
|
The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Net profit increased by 310% primarily due to a decrease in total operating expenses which was due to a decrease in provisions for credit and other losses, other general and administrative expenses, and rent and premises related expenses which was offset by an increase in salaries and employee-related expenses, depreciation and amortization, and provisions for Zakat and Income Tax.
Total operating income increased by 1% primarily due to an increase in net special commission income, fee income from banking services, exchange income, gains on FVOCI debt securities, and dividend income which was offset by a decrease in fair value through profit and loss, and other income. |
|
Statement of the type of external auditor's report |
Unmodified opinion. |
|
Reclassification of Comparison Items |
None. |
|
Additional Information |
Earnings per share for the year ended December 31, 2020 was 1.28 SAR, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 675 million shares representing the weighted average of the issued and outstanding shares after giving effect to the purchase of 56.2 million and 18.7 million Treasury shares on September 27, 2018 and May 28, 2019 respectively. Earnings per share for the year ended December 31, 2019 was 0.17 SAR, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 683 million shares representing the weighted average of the issued and outstanding shares after giving effect to the purchase of 56.2 million and 18.7 million Treasury shares on September 27, 2018 and May 28, 2019 respectively. |
