Alinma Bank net profit dips 22% to SAR 1.966 bln for 2020

11/02/2021 Argaam Exclusive

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Alinma Bank
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Alinma Bank (ALINMA)

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Alinma Bank reported net profit of SAR 1.966 billion for 2020, down 22% year-on-year (YoY), due to higher impairment charges and reevaluation losses.

 

The earnings decline came despite an 8% rise in net income from financing and investments.

 



Financials (M)

Item 2019 2020 Change‬
Net Income from investments and financial activities 4,323.22 4,647.82 7.5 %
Operating Income 5,610.16 5,681.64 1.3 %
Total Provisions (700.48) (1419.18) (102.6 %)
Net Income 2,534.81 1,965.99 (22.4 %)
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 1.01 0.79 (22.4 %)
EPS Diluted (Riyals) 1.01 0.79 (21.8 %)

Q4 2020 net profit dropped 23% YoY to SAR 394 million.

 

Total shareholders’ equity, excluding minority interest, rose 8.8% YoY to SAR 24.429 billion in 2020. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Net Income from investments and financial activities 1,141.93 1,214.21 6.3 %
Operating Income 1,515.34 1,610.11 6.3 %
Debt Provisions (385.11) (636.70) (65.3 %)
Net Income 508.53 393.99 (22.5 %)
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.20 0.16 (22.5 %)
EPS Diluted (Riyal) 0.20 0.16 (20.0 %)

Balance Sheet (B)

Item 2019 2020 Change‬
Assets 131.84 156.88 19.0 %
Customer Deposits 102.06 119.45 17.0 %
Financing Investments 94.80 111.20 17.3 %

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