| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 74,425 | 68,472 | 8.694 | 81,790 | -9.004 |
| Net Income From Special Commission of Financing | 43,262 | 35,320 | 22.485 | 50,318 | -14.022 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 5,422 | 5,068 | 6.985 | 14,755 | -63.253 |
| Net Profit (Loss) before Zakat and Income Tax | 3,140 | 2,866 | 9.56 | 9,320 | -66.309 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2,512 | 2,274 | 10.466 | 8,172 | -69.26 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 2,512 | 2,274 | 10.466 | 6,983 | -64.026 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 37,840 | 30,252 | 25.082 | 35,563 | 6.402 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 2,443 | 2,327 | 4.984 | 5,524 | -55.774 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 2,909,894 | 3,033,447 | -4.073 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 2,658,065 | 2,814,170 | -5.547 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 887,400 | 865,117 | 2.575 |
| Profit (Loss) per Share | 0.03 | 0.03 | |
| 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 | - | - | |
| Accumulated Losses | 21,512 | 2.4 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | The company achieved Total Income From Special Commission of Financing of SR 74,425 million during current quarter, compared to SR 68,472 million for the same quarter during last year, representing an increase of 8.69%. The increase is mainly attributable to the increase in Murabaha income and fee income during the period. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company achieved a net profit of SR 2.512 million during current quarter, compared to SR 2.274 million for the same quarter during last year, representing an increase of 10.47%. The increase in net profit is mainly due to higher special commission income representing an increase of 8.69% and lower cost of fund of 6.00%. which was offset by higher operating and ECL expense that increased by 25.08% and 4.98% respectively. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is | There was slightly increase in expected credit loss (ECL) expenses during the period compared to the same quarter during last year |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The company achieved Total Income From Special Commission of Financing of SR 74,425 million during current quarter, compared to SR 81,790 million for the previous quarter, representing an decrease of 9.00%. The decrease is mainly attributable to lower asset sales yielding lower income on gain on sale of portfolio. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | The company achieved a net profit of SR 2.512 million during current quarter, compared to SR 8.172 million for the previous quarter, representing an decrease of 69.26%. The decrease in net profit is mainly due to lower special commission income during the current quarter owing to lower asset sales combined with higher operating expenses by 6.40%. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is | The company recognized SR 2.443 million in net provision of expected credit losses during current quarter, compared to SR 5.524 million previous quarter, representing an decrease of 55.77%. The decrease in net provision charge of expected credit losses is mainly due to recognition of losses on the revaluation of the held for sale properties and increase in the provision for Murabaha receivables during last quarter |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| 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 be consistent with the presentation of the current period. |
| Additional Information | The company is currently not engaged in any deposit taking activity, therefore customer deposits are not applicable. |