| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 567,987 | 452,266 | 25.59 | ||
| Net Income From Special Commission of Financing | 342,496 | 243,349 | 40.74 | ||
| Net Income From Special Commission of Investment | - | - | - | ||
| Total Operations Profit (Loss) | 343,563 | 244,462 | 40.54 | ||
| Net Profit (Loss) before Zakat and Income Tax | 82,179 | 58,633 | 40.16 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 65,226 | 46,314 | 40.83 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 56,480 | 39,097 | 44.46 | ||
| Assets | 4,462,772 | 4,512,211 | -1.09 | ||
| Investments | 893 | 893 | - | ||
| Loans And Advances Portfolio (Financing And Investment) | 4,264,096 | 4,322,200 | -1.34 | ||
| Clients' deposits | - | - | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,281,199 | 1,224,719 | 4.61 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 185,777 | 157,344 | 18.07 | ||
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 75,607 | 28,485 | 165.43 | ||
| Profit (Loss) per Share | 0.64 | 0.45 | |||
| 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 Total Income From Special Commission of Financing of SR 567.99 million during current year, compared to SR 452.27 million during the last year, representing an increase of 25.59%. The increase is mainly attributable to increase in yield of Loans and Advances Portfolio compared to prior period. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company achieved a net profit of SR 65.23 million during the current year, compared to SR 46.31 million during the last year, representing an increase of 40.83%. The increase in net profit is mainly attributable to: - Increase in Income From Special Commission of Financing, partially offset by - Increase in Finance cost, and - Increase in Operating Expenses. |
| 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 total net provision of expected credit losses and other losses during current year amounts to SR 75.6 million as compared to SR 28.4 million during last year. The increase in total net provision for expected credit losses and other losses is attributable to: - Higher credit overlays and specific provisions recognized during the period, reflecting the credit profile of the customers ; and - Refinement in expected credit losses model assumptions and estimation methodology. |
| 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 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 3. During the prior year, the share capital of the Company increased by way of issuance of bonus shares, from SR 906 million to SR 1,019.25 million. |
