Alinma Bank posts 42% profit slump to SAR 370 mln in Q1 2020

17/05/2020 Argaam Exclusive

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.



Current Quarter Comparison (M)

Compared With The
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 %)

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.

Balance Sheet (B)

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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Share Price

Alinma Bank
28.00
0.35 1.27 %

Alinma Bank (ALINMA)

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Financial Ratios
Current
Market Cap (M) 70,000.00
Shares Outstanding ((M)) 2,500.00
EPS ( Riyal) (TTM) 2.25
EPS Diluted ( Riyal) (TTM) 2.13
Book Value (BV) ( Riyal) 12.96
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.45
P/E (TTM) 12.45
Price/book 2.16
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 18.5
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