Alinma Bank’s Q1 2020 net profit fell by 42% year-on-year (YoY) to SAR 370 million, from SAR 638 million in year-earlier period.
The drop was attributed to higher operating expenses and impairment charges, along with investment revaluation losses.
Item | Q1 2019 | Q1 2020 | Change |
---|---|---|---|
Net Income from investments and financial activities | 976.43 | 1,121.16 | 14.8 % |
Operating Income | 1,289.64 | 1,259.28 | (2.4 %) |
Debt Provisions | (65.40) | (358.69) | (448.5 %) |
Net Income | 637.84 | 370.27 | (41.9 %) |
Average Shares | 2,500.00 | 2,500.00 | - |
EPS (Riyals) | 0.26 | 0.15 | (41.9 %) |
EPS Diluted (Riyal) | 0.26 | 0.15 | (42.3 %) |
Item | Q4 2019 | Q1 2020 | Change |
---|---|---|---|
Net Income from investments and financial activities | 1,141.93 | 1,121.16 | (1.8 %) |
Operating Income | 1,515.34 | 1,259.28 | (16.9 %) |
Debt Provisions | (385.11) | (358.69) | 6.9 % |
Net Income | 508.53 | 370.27 | (27.2 %) |
Average Shares | 2,500.00 | 2,500.00 | - |
EPS (Riyals) | 0.20 | 0.15 | (27.2 %) |
EPS Diluted (Riyal) | 0.20 | 0.15 | (25.0 %) |
When compared to Q4 2019, net profit slid 27.3%, due to lower operating income on the revaluation losses incurred from investments at fair value through statement of income (FVSI), lower financing and investment income.
Item | 3m 2019 | 3m 2020 | Change |
---|---|---|---|
Assets | 121.79 | 138.02 | 13.3 % |
Customer Deposits | 92.26 | 103.87 | 12.6 % |
Financing Investments | 85.88 | 97.78 | 13.9 % |
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