| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 14,018 | 11,551 | 21.36 | ||
| Total Income From Special Commission of Investment | 2,354 | 1,667 | 41.21 | ||
| Net Income From Special Commission of Financing | 6,393 | 6,651 | -3.88 | ||
| Net Income From Special Commission of Investment | 1,490 | 1,184 | 25.84 | ||
| Total Operations Profit (Loss) | 9,658 | 9,324 | 3.58 | ||
| Net Profit (Loss) before Zakat and Income Tax | 5,069 | 4,708 | 7.67 | ||
| Net profit (Loss) | 4,544 | 4,223 | 7.6 | ||
| Total Comprehensive Income | 4,834 | 4,890 | -1.15 | ||
| Assets | 292,776 | 253,666 | 15.42 | ||
| Investments | 60,289 | 48,750 | 23.67 | ||
| Loans And Advances Portfolio (Financing And Investment) | 204,168 | 179,391 | 13.81 | ||
| Clients' deposits | 185,118 | 172,209 | 7.5 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 46,607 | 41,404 | 12.57 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 3,409 | 3,022 | 12.81 | ||
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 1,180 | 1,594 | -25.97 | ||
| Profit (Loss) per Share | 1.72 | 1.61 | |||
| All figures are in (Millions) 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 (Millions) 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 gross special commission income increased by 23.9% mainly driven by higher return from financing and investments while net special commission income increased by 0.6% . |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income increased due to increase in total operating income by 3.6% as well as reduction in total operating expenses by 0.6%. The increase in total operating income was mainly driven by higher trading income, net fee and commission income, net special commission income and gains on non-trading investments. The decrease in total operating expenses was primarily due to lower impairment charges for expected credit losses on loans and advances which was partially offset by other operating and general and administrative expenses, salaries and employee related expenses, impairment charges for other financial assets as well as depreciation and amortization. |
| 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 | Net impairment charges for financing and other financial assets decreased by 26.0% due to lower impairment charges on loans and advances by 31.5%, which was partially offset by higher impairment charges for other financial assets. |
| 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 | Certain prior period numbers have been re-classified to be aligned with the current period presentation. |
| Additional Information | Net Income after zakat for the 3 months period ended 31 December 2024 was SAR 1,117 million compared to SAR 827 million for the same period of last year. Net Income after zakat for the 3 months period ended 30 September 2024 was SAR 1,148 million. Net Income from Special Commission of Investment is calculated after deducting special commission expense from debt securities and term loans. The Bank has restated the previous year end balances in regard to Investments and Retained earnings in the consolidated statement of financial position. EPS for the current and the previous years is calculated by dividing the net income after zakat for the year (adjusted for Tier 1 Sukuk costs as well as Bonus share issuance) by the weighted average number of shares outstanding after excluding treasury shares. Tier 1 Sukuk amounting to SAR 8 billion is included as part of total shareholders equity as of 31 December 2024 compared to SAR 5 billion as of 31 December 2023. |
