Alinma Bank reported a net profit before Zakat and income tax of SAR 1.572 billion for the first nine months of 2020, a 22% year-on-year (YoY) decline, the bank said in a bourse statement on Tuesday.
The decline in net profit was attributed mainly to the higher impairment charges and operating expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 3,181.29 | 3,433.61 | 7.9 % |
| Operating Income | 4,094.82 | 4,071.53 | (0.6 %) |
| Total Provisions | (315.37) | (782.48) | (148.1 %) |
| Net Income | 2,026.29 | 1,572.00 | (22.4 %) |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.81 | 0.63 | (22.4 %) |
| EPS Diluted (Riyals) | 0.81 | 0.63 | (22.2 %) |
The bank reported a net profit of SAR 629 million for the third quarter of 2020, a 12% YoY decrease.
When compared to previous quarter, net profit grew 9.9% during Q3 on higher income from financing and investments, fee income and other operating income.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 1,138.86 | 1,185.15 | 4.1 % |
| Operating Income | 1,440.97 | 1,479.84 | 2.7 % |
| Debt Provisions | (108.31) | (231.00) | (113.3 %) |
| Net Income | 712.78 | 629.25 | (11.7 %) |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.29 | 0.25 | (11.7 %) |
| EPS Diluted (Riyal) | 0.29 | 0.25 | (13.8 %) |
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Assets | 128.01 | 147.85 | 15.5 % |
| Customer Deposits | 99.84 | 111.32 | 11.5 % |
| Financing Investments | 90.78 | 105.33 | 16.0 % |
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