| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 406,792 | 359,473 | 13.16 | ||
| Net Income From Special Commission of Financing | 206,557 | 150,269 | 37.46 | ||
| Net Income From Special Commission of Investment | - | - | - | ||
| Total Operations Profit (Loss) | 206,557 | 150,269 | 37.46 | ||
| Net Profit (Loss) before Zakat and Income Tax | 61,179 | 33,899 | 80.47 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 50,676 | 26,528 | 91.03 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 49,883 | 26,985 | 84.85 | ||
| Assets | 4,737,298 | 4,513,467 | 4.96 | ||
| Investments | 893 | 893 | - | ||
| Loans And Advances Portfolio (Financing And Investment) | 4,570,529 | 4,337,259 | 5.38 | ||
| Clients' deposits | - | - | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,737,521 | 1,687,638 | 2.96 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 341,207 | 338,330 | 0.85 | ||
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 14,909 | -5,385 | - | ||
| Profit (Loss) per Share | 0.51 | 0.27 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the special commission income during the current year compared to the last year is | The company achieved a total income from special financing commissions during the current Year amounting to 406.79 million riyals, compared to 359.47 million riyals for the previous year, with an increase of 13.2%. This improvement is due to an increase in profit rates on new loans as well as growth in financing portfolio size. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company achieved net profit of SR 50.67 million during the current Year compared to SR 26.53 million reported in the previous Year, marking a 91% increase. This improvement is due to an increase in profit rates on new loans as well as growth in financing portfolio size. |
| The reason of the increase (decrease) in the total net provision of expected credit losses and other losses (reversing entry) during the current year compared to the last year is | The company recognized an amount of 14.9 million riyals net provisions for expected credit losses during the current Year, compared to (5.38) million riyals reversal during the previous Year. The increase in the total net provision for expected credit losses and other losses is due to the growth in the size of the financing portfolio. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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 | No comparative figures have been reclassified to conform to the current period presentation. |
| Additional Information | _The company did not receive any Deposit taking is this period and therefore it is not applicable. _Net income from special commission amount represents the difference between total income from special commission (Total operating income) and the finance charge amount and the direct cost in the income statement |
