Alinma Bank — Earnings Release 2017

Feb 1, 2018

Alinma Bank announces the Annual financial results for the period ending on 31-12-2017 (Twelve Months)

1150 · 01/02/2018 16:27:34 · Announcement #49309 · View on Saudi Exchange

Alinma Bank announces the Annual financial results for the period ending on 31-12-2017 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	560	390	43.59	542	3.32
Total profit (loss) operation income\ Investments	1,299	945	37.46	1,063	22.2
Net profit (loss) special commission income\ Investments	967	727	33.01	877	10.26
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	2,011	1,502	33.89
Total profit (loss) operation income\ Investments	4,373	3,328	31.4
Net profit (loss) special commission income\ Investments	3,493	2,652	31.71
Earning or loss per share, Riyals	1.35	1.01	-
Total Assets	115,005	104,730	9.81
Investments	15,320	6,157	148.82
Loans and advances portfolio	79,063	70,312	12.45
Customer deposit	89,065	80,612	10.49
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Net income increased due to the increase in total operating income by 37%, mainly due to the increase in income from financing and investments in addition to increase in fee from banking services, while gain on investments decreased. On the other hand, the total operating expenses increased by 33% mainly due to increase in provisions for impairment,salaries and general and administrative expenses.
Reasons of increase (decrease) for period compared with same period last year	Net income increased due to the increase in total operating income by 31%, mainly due to the increase in income from financing and investments in addition to exchange and fee income . On the other hand, the total operating expenses increased by 30% mainly due to increase in provisions for impairment , salaries, depreciation and general and administrative expenses.
Reason of increase (decrease) for quarter compared with the previous quarter	Net income increased due to the increase in total operating income by 22%, mainly due to the increase in income from financing and investments in addition to the increase in fee and gain on investments. On the other hand, the total operating expenses increased by 42% on account of increase in provisions, salaries, rent and general and administrative expenses.
Reclassifications in quarterly financial results	The previous period numbers have been reclassified to conform current year presentation.
Other notes	Gross financing and investment income for the year ended December 31, 2017 was SAR 4,255 million as compared to SAR 3,486 million last year, an increase of 22%. Gross financing and investment income for the three months period ended December 31 2017 was SAR 1,164 million as compared to SAR 1,025 million for corresponding period of last year, an increase of 14%. Total comprehensive income for the year ended December 31, 2017 was SAR 2,274 million as compared to SAR 1,581 million last year, an increase of 44%. Total comprehensive income for the three months period ended December 31, 2017 was SAR 528 million as compared to SAR 453 million for corresponding period for last year, an increase of 17% and a decrease of 16% compared to SAR 630 million for the three month ended September 30, 2017. Total shareholders equity there are no minority rights as at December 31, 2017 was SAR 20.6 billion compared to SAR 19.2 billion last year, an increase of 7%. For calculation of earning per share, 10 million treasury shares have been excluded.

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