ELEMENT LIST

Current YEAR

PREVIOUS YEAR

% Change

Gross Income from Special Commissions/Financing & Investments

4,067.3

2,820

44.23

Net Income from Special Commissions/Financing & Investments

2,832.3

2,352.4

20.4

Total Operation Profit (Loss)

3,265.3

2,753

18.61

Net Profit (Loss) before Zakat and Income Tax

1,712

1,267.3

35.09

Net Profit (Loss)

1,507.9

1,061.7

42.03

Total Comprehensive Income

-259.3

831.7

-

Total Share Holders Equity (excluding Non-Controlling Interest)

13,575

14,801

-8.28

Assets

109,071

101,619

7.33

Investments

28,180

28,842

-2.29

Loans and Advances Portfolio (Financing & Investment)

68,883

57,798

19.18

Total Operating Expenses Before Provisions for Credit and Other Losses

1,432.6

1,269.5

12.85

Total Provisions (Reversals) for Expected Credit and Other Losses, net

191.6

271.1

-29.32

Clients' deposits

69,579

61,485

13.16

Profit (Loss) per Share

1.37

0.99

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 42% due to an increase in total operating income and a decrease in provisions for credit and other losses. Total operating income increased by 18.6% primarily due to an increase in net special commission income and exchange income which was offset by a decrease in gains on disposals of FVOCI debt securities, fee income from banking services and other income.

Total operating expenses increased by 5.4% primarily due to an increase in other general and administrative expenses, salaries and employee-related expenses and depreciation and amortization which was offset by a decrease in provisions for credit and other losses and rent and premises related expenses.

Statement of the type of external auditor's report

Unmodified opinion.

Reclassification of Comparison Items

Certain prior year amounts have been reclassified to conform to current year presentation.

Additional Information

Earnings per share for the year ended December 31, 2022 and 2021 was SAR 1.37 and 0.99 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 1,000 million shares and 960 million shares respectively representing the weighted average of the issued and outstanding shares after giving effect to the purchase and issuance of 74.9 million treasury shares.

The weighted average number of outstanding shares have been retrospectively adjusted for prior period to reflect the effect of the changes in number of shares due to bonus element included in the treasury shares and bonus shares issued.