| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 75,636,169 | 75,394,550 | 0.32 | 80,128,609 | -5.61 |
| Net Income from Special Commissions/Financing & Investments | 44,339,365 | 57,093,120 | -22.34 | 58,596,840 | -24.33 |
| Total Operation Profit (Loss) | 44,339,365 | 57,093,120 | -22.34 | 58,596,840 | -24.33 |
| Net Profit (Loss) before Zakat and Income Tax | 19,145,514 | 27,483,126 | -30.34 | 32,447,459 | -40.99 |
| Net Profit (Loss) | 16,384,162 | 24,343,038 | -32.69 | 31,298,991 | -47.65 |
| Total Comprehensive Income | 16,750,140 | 24,944,524 | -32.85 | 31,204,940 | -46.32 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 64,378,358 | 50,005,508 | 28.74 | 50,462,090 | 27.58 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | -5,126,351 | 1,046,004 | - | -2,780,940 | 84.34 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 231,603,417 | 224,870,433 | 2.99 |
| Net Income from Special Commissions/Financing & Investments | 159,723,379 | 169,120,508 | -5.56 |
| Total Operation Profit (Loss) | 159,723,379 | 169,120,508 | -5.56 |
| Net Profit (Loss) before Zakat and Income Tax | 87,444,001 | 94,011,694 | -6.99 |
| Net Profit (Loss) | 80,040,193 | 83,102,234 | -3.68 |
| Total Comprehensive Income | 80,246,301 | 83,568,810 | -3.98 |
| Total Share Holders Equity (excluding Non-Controlling Interest) | 1,692,780,429 | 1,669,635,223 | 1.39 |
| Assets | 4,380,552,486 | 4,388,124,690 | -0.17 |
| Investments | 892,850 | 892,850 | - |
| Loans and Advances Portfolio (Financing & Investment) | 4,135,455,020 | 4,189,698,874 | -1.29 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 166,778,222 | 152,350,581 | 9.47 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | -15,214,998 | -10,582,382 | 43.78 |
| Clients' deposits | - | - | - |
| Profit (Loss) per Share | 0.8 | 0.83 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit of the company is SR 16.4 million compared to SR 24.3 million for the same period last year with decrease of 32.7%, the reason for the decrease is due to the increase in the cost of fund which was offset partially by the increase in the fair value (gain) on financial derivatives to hedge the interest rate exposure in addition to the reversal of expected credit loss allowance. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net profit decreased for the current quarter by SR 14.9 million (47.7%) compared to last quarter. The main reason for this decrease is due to the increase in the finance charges compare to last quarter. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit for the current period decreased by 3.7% compared with same period last year (Q3-2022: SR 80.0 million - Q3-2021: SR 83.1 million), the main reason of this decrease is due the increase in the cost of fund which was offset partially by the increase in the fair value (gain) of the financial derivatives related to the hedging arrangements against interest rate increase, in addition to the reversal of credit loss provision and the income tax refund from prior years. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor 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 did not receive any Deposit taking in 2022 and therefore it is not applicable |
Net income from special commission amount represents the difference between total income from special commission and the finance charge amount
Total operating expense before provisions for credit and other loss includes Finance charges, General and admin expense and selling and marketing expense. The increase in the operating expense comparing with same period last year due to increase in the finance charges
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