Alinma Bank 9M 2021 profit rises 33% to SAR 2.090 bln

25/10/2021 Argaam Exclusive

Alinma Bank posted a net profit of SAR 2.090 billion for the first nine months of 2021, a rise of 33% compared with SAR 1.572 billion a year earlier.

 

The bank attributed the profit growth to the rise in total operating income by 22.4%, mainly due to the increase in net financing and investment income, FVIS investment income, fee income, and other operating income, partly offset by the lower exchange income.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Net Income from investments and financial activities 3,433.61 3,830.96 11.6 %
Operating Income 4,071.53 4,979.44 22.3 %
Total Provisions (782.48) (962.62) (23.0 %)
Net Income 1,572.00 2,090.26 33.0 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.63 0.84 33.0 %
EPS Diluted (Riyals) 0.63 0.84 33.3 %

Meanwhile, Q3 2021 net profit reached SAR 738.1 million, up 17% compared with SAR 629.2 million in the same period of 2020, driven a 16.5% increase in total operating income.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Net Income from investments and financial activities 1,185.15 1,392.89 17.5 %
Operating Income 1,479.84 1,722.06 16.4 %
Debt Provisions (231.00) (279.06) (20.8 %)
Net Income 629.25 738.09 17.3 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.25 0.30 17.3 %
EPS Diluted (Riyal) 0.25 0.30 20.0 %

On a sequential basis, Q3 2021 net profit rose 3.9% from SAR 710.3 million.

 

Total shareholders' equity, after minority interest, amounted to SAR 30.164 billion, in 9M 2021 compared to SAR 24.038 billion in the same period a year ago.

Balance Sheet (B)

Item 9m 2020 9m 2021 Change‬
Assets 147.85 166.81 12.8 %
Customer Deposits 111.32 116.65 4.8 %
Financing Investments 105.33 121.32 15.2 %

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Share Price

Alinma Bank
28.10
(0.25) (0.88 %)

Alinma Bank (ALINMA)

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Financial Ratios
Current
Market Cap (M) 70,250.00
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) 12.49
P/E (TTM) 12.49
Price/book 2.17
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 18.5
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