Alinma Bank 9M 2023 profit up 28% to SAR 3.51 bln; Q3 at SAR 1.32 bln

24/10/2023 Argaam Exclusive

Alinma Bank reported a 28% rise in net profit to SAR 3.51 billion for the first nine months of 2023, compared to SAR 2.73 billion in the prior-year period.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Net Income from investments and financial activities 4,398.66 5,600.34 27.3 %
Operating Income 5,815.18 7,156.92 23.1 %
Total Provisions (761.91) (963.57) (26.5 %)
Net Income 2,738.86 3,518.86 28.5 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 1.10 1.41 28.5 %
EPS Diluted (Riyals) 1.06 1.35 27.1 %

The bank posted a 23.1% year-on-year (YoY) increase in gross operating income. This was mainly due to higher net income from financing and investment as well as fees and exchange income, which was partly offset by a decline in gains on fair value through statement of income (FVSI) financial instruments and lower other operating income.

 

On the other hand, gross operating expenses surged 17.4% YoY amid higher general and administrative expenses, as well as payroll, rents, and depreciation expenses, alongside an uptick in impairment charges for expected credit losses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Net Income from investments and financial activities 1,673.65 2,005.90 19.9 %
Operating Income 2,075.43 2,540.64 22.4 %
Debt Provisions (272.53) (300.99) (10.4 %)
Net Income 989.03 1,323.90 33.9 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.40 0.53 33.9 %
EPS Diluted (Riyal) 0.38 0.51 33.3 %

The third-quarter net profit grew 34% to SAR 1.32 billion from SAR 989.03 million in Q3 2022. This came as gross operating income rose by 22.4% YoY, mainly due to the increase in net income from financing and investment, in addition to higher fees, foreign exchange, and FVSI income.

 

Sequentially, the Q3 bottom line grew by 8.1% from SAR 1.22 billion in Q2 2023.

 

Shareholders’ equity, with no minority interest and after excluding sukuk, stood at SAR 28.46 billion by the end of Sept. 30, 2023, compared to SAR 26.30 billion in the year-earlier period.

Balance Sheet (B)

Item 9m 2022 9m 2023 Change‬
Assets 193.23 232.59 20.4 %
Customer Deposits 132.05 180.23 36.5 %
Financing Investments 139.99 169.06 20.8 %

View More Financial Results

 

View other reports

Share Price

Alinma Bank
28.20
0.20 0.71 %

Alinma Bank (ALINMA)

More


Financial Ratios
Current
Market Cap (M) 70,500.00
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) 12.54
P/E (TTM) 12.54
Price/book 2.18
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 18.5
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request