| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 146,734 | 138,189 | 6.183 | 144,470 | 1.567 |
| Net Income From Special Commission of Financing | 94,407 | 81,416 | 15.956 | 88,123 | 7.13 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 94,707 | 81,666 | 15.968 | 88,423 | 7.106 |
| Net Profit (Loss) before Zakat and Income Tax | 19,924 | 15,012 | 32.72 | 19,726 | 1.003 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 15,815 | 11,915 | 32.731 | 15,656 | 1.015 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 17,787 | 7,146 | 148.908 | 12,852 | 38.398 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 50,926 | 45,965 | 10.792 | 48,814 | 4.326 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 23,857 | 20,689 | 15.312 | 19,883 | 19.986 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 4,630,666 | 4,628,667 | 0.043 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 4,463,247 | 4,342,196 | 2.787 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,298,986 | 1,231,865 | 5.448 |
| Profit (Loss) per Share | 0.16 | 0.12 | |
| 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 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 146.734 million during current quarter, compared to SR 138.189 million for the same quarter during last year, representing an increase of 6.18%. The increase is mainly attributable to Increase in Loans and Advances Portfolio of Company during the period by 2.79% as well as enhancement of yield on such portfolio 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 15.815 million during current quarter, compared to SR 11.915 million for the same quarter during last year, representing an increase of 32.73%. The increase in net profit is mainly attributable to: - Increase in Income From Special Commission of Financing; and - Decrease in Finance cost; partially offset by: - Increase in Operating Expenses; and - Increase in Total Net Provision of Expected Credit Losses." |
| 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 | "The company recognized SR 23.857 million in net provision of expected credit losses during the current quarter, compared to SR 20.689 million during the same quarter of last year, representing an increase of 15.31%. The increase in total net provision of expected credit losses and other losses is attributable to: - Growth in the Company’s Loans and Advances portfolio compared to the same quarter of last year; - Refinement of expected credit losses model assumptions and estimation methodology; and - Updated model-based expected credit loss estimates to reflect the continued uncertainty associated with geopolitical conditions." |
| 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 146.734 million during current quarter, compared to SR 144.470 million for the previous quarter, representing an increase of 1.57%. The increase is mainly attributable to Increase in Loans and Advances Portfolio of Company as well as enhancement of yield on such portfolio during the period." |
| 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 15.815 million during current quarter, compared to SR 15.656 million for the previous quarter, representing an increase of 1.02%. The increase in net profit is nominal and mainly attributable to: - Increase in Income From Special Commission of Financing; and - Decrease in Finance cost; partially offset by: - Increase in Operating Expenses; and - Increase in Total Net Provision of Expected Credit Losses. |
| 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 23.857 million in net provision of expected credit losses during current quarter, compared to SR 19.883 million during previous quarter, representing an increase of 19.99%. The increase in total net provision of expected credit losses and other losses is attributable to: - Growth in Loans and Advances Portfolio of the Company compared to previous quarter; and - Updated model-based expected credit loss estimates to reflect the continued uncertainty associated with geopolitical conditions. |
| 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 | Following notes are relevant to this submission: 1. The company is currently not engaged in any deposit taking activity, therefore customer deposits are not applicable. 2. The company is currently not engaged in any activity for special commission income from investment, therefore special commission income from investment is not applicable |
