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ALINMA BANK

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Alinma Bank : اعلان مصرف الإنماء عن النتائج المالية الأولية للفترة المنتهية في 2021-09-30 ( تسعة أشهر )

10/25/2021 | 05:24am EST
Alinma Bank announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

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Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Total income from Special Commissions/Financing & Investments 1,511.3 1,354.9 11.543 1,362.2 10.945
Net Income from Special Commissions/Financing & Investments 1,392.5 1,185.2 17.49 1,230.8 13.137
Total Operation Profit (Loss) 1,723.7 1,479.8 16.481 1,654.9 4.157
Net Profit (Loss) before Zakat and Income Tax 822.9 715 15.09 792 3.901
Net Profit (Loss) 738.1 629.2 17.307 710.3 3.913
Total Comprehensive Income 707.6 648.1 9.18 709.1 -0.211
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total income from Special Commissions/Financing & Investments 4,222.3 4,092.7 3.166
Net Income from Special Commissions/Financing & Investments 3,827.7 3,433.6 11.477
Total Operation Profit (Loss) 4,984.9 4,071.5 22.433
Net Profit (Loss) before Zakat and Income Tax 2,330.5 1,762.5 32.226
Net Profit (Loss) 2,090.3 1,572 32.97
Total Comprehensive Income 2,063.3 1,590.6 29.718
Total Share Holders Equity (after Deducting Minority Equity) 30,164.4 24,038.8 25.482
Assets 166,808.3 147,850 12.822
Investments 31,885.9 26,460.3 20.504
Loans and Advances Portfolio (Financing & Investment) 121,317.6 105,325.1 15.183
Clients' deposits 116,651.9 111,318 4.791
Profit (Loss) per Share 1.03 0.79
All figures are in (Millions) 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 income increased due to the increase in total operating income by 16.5%, mainly due to the increase in net financing and investment income, FVIS investment income, fee income, exchange income and other operating income.

In the other hand, the total operating expenses increased by 16.3% due to the increase in general and administrative expenses, impairment charge for expected credit losses and salaries expenses.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Net income increased due to the increase in total operating income by 4.2%, mainly due to the increase in net financing and investment income and exchange income, partly offset by the lower fee income, FVIS investments income and other operating income.

In the other hand, the total operating expenses increased by 4% due to the higher general and administrative expenses and salaries expenses, partly offset by the lower impairment charge for expected credit losses.

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 income increased due to the increase in total operating income by 22.4%, mainly due to the increase in net financing and investment income, FVIS investment income, fee income, and other operating income partly offset by the lower exchange income.

In the other hand, the total operating expenses increased by 14.5% due to the increase in general and administrative expenses and impairment charge for expected credit losses.

Statement of the type of external auditor's report Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items Some items have been reclassified.
Additional Information Net impairment charge for expected credit losses reached to SAR 279mn for the current quarter against SAR 233.8mn in the similar quarter of previous year with an increase of 19.3% and against SAR 342.1mn in the previous quarter this year with a decrease of 18.4%.

Net impairment charge for expected credit losses reached to SAR 965.1mn for the current period against SAR 768.5mn for the similar period of previous year with an increase of 25.6%.

For calculation of earning per share, 12.2 million treasury shares have been excluded.

Earnings per share is calculated by dividing the net income after zakat for the period ended 30 Sep 2021 and 30 Sep 2020 by 1,988 million Shares and 1,987 million shares, respectively.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Disclaimer

Alinma Bank SJSC published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 09:23:03 UTC.


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Financials
Sales 2021 6 712 M 1 789 M 1 789 M
Net income 2021 2 751 M 733 M 733 M
Net Debt 2021 - - -
P/E ratio 2021 19,9x
Yield 2021 2,62%
Capitalization 55 500 M 14 793 M 14 796 M
Capi. / Sales 2021 8,27x
Capi. / Sales 2022 7,46x
Nbr of Employees 2 592
Free-Float 90,0%
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Technical analysis trends ALINMA BANK
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 27,75 SAR
Average target price 25,72 SAR
Spread / Average Target -7,33%
EPS Revisions
Managers and Directors
Abdullah Ali Al Khalifa Chief Executive Officer
Muhammad Iqbal Muhammad Ibrahim Chief Financial Officer
Abdulmalik Abdulah Al-Hogail Chairman
Ghurmallah Khader Al-Zahrani General Manager-Operations
Saud Mohammed Al-Nimir Independent Director
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