Alinma Bank — Earnings Release 2020

Feb 11, 2021

Alinma Bank announces its Annual Financial Results for the Period Ending on 2020-12-31

1150 · 11/02/2021 15:56:50 · Announcement #61915 · View on Saudi Exchange

Alinma Bank announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Total income from Special Commissions/Financing & Investments	5,470	5,538	-1.227
Net Income from Special Commissions/Financing & Investments	4,648	4,323	7.517
Total Operation Profit (Loss)	5,734	5,610	2.21
Net Profit (Loss) before Zakat and Income Tax	2,202	2,816	-21.803
Net Profit (Loss)	1,966	2,535	-22.445
Total Comprehensive Income	1,980	2,627	-24.628
Total Share Holders Equity (after Deducting Minority Equity)	24,429	22,445	8.839
Assets	156,877	131,839	18.991
Investments	29,526	23,478	25.76
Loans and Advances Portfolio (Financing & Investment)	111,196	94,801	17.294
Clients' deposits	119,454	102,063	17.039
Profit (Loss) per Share	0.99	1.28
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net Profit declined mainly for the higher impairment Charges and Revaluation Losses. Net Income from Financing & Investments increased by 8% but the total Operating Profit increased only by 2% due to the higher revaluation loss on investments. On the other hand, the operating expenses remained in line while the Impairment Charge registered significant increase.
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	For calculation of earning per share, 13 million treasury shares have been excluded.

Earnings per share is calculated by dividing the net income after zakat for the period ended 31 December 2020 and 31 December 2019 by 1,987 million shares to give a retrospective effect of 33% bonus shares

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