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

11/02/2021 Argaam Exclusive

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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 %)

Item	Q3 2020	Q4 2020	Change‬
Net Income from investments and financial activities	1,185.15	1,214.21	2.5 %
Operating Income	1,479.84	1,610.11	8.8 %
Debt Provisions	(231.00)	(636.70)	(175.6 %)
Net Income	629.25	393.99	(37.4 %)
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	0.25	0.16	(37.4 %)
EPS Diluted (Riyal)	0.25	0.16	(36.0 %)

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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