Alinma Bank reported a net profit of SAR 943 million for the first half of 2020, a 28% decline year-on-year (YoY), compared to SAR 1.31 billion in the year-earlier period.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 2,042.43 | 2,248.46 | 10.1 % |
| Operating Income | 2,653.85 | 2,591.70 | (2.3 %) |
| Total Provisions | (207.06) | (551.48) | (166.3 %) |
| Net Income | 1,313.50 | 942.75 | (28.2 %) |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.53 | 0.38 | (28.2 %) |
| EPS Diluted (Riyals) | 0.53 | 0.38 | (28.3 %) |
The decline in earnings was driven by a marginal decline in the total operating income, losses on the revaluation of investments and lower fee income. However, income from financing and investments rose 10%, while exchange income grew 29%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 1,066.01 | 1,127.30 | 5.8 % |
| Operating Income | 1,364.21 | 1,332.41 | (2.3 %) |
| Debt Provisions | (141.66) | (192.79) | (36.1 %) |
| Net Income | 675.67 | 572.49 | (15.3 %) |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.27 | 0.23 | (15.3 %) |
| EPS Diluted (Riyal) | 0.27 | 0.23 | (14.8 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 1,121.16 | 1,127.30 | 0.5 % |
| Operating Income | 1,259.28 | 1,332.41 | 5.8 % |
| Debt Provisions | (358.69) | (192.79) | 46.3 % |
| Net Income | 370.27 | 572.49 | 54.6 % |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.15 | 0.23 | 54.6 % |
| EPS Diluted (Riyal) | 0.15 | 0.23 | 53.3 % |
In Q2 2020, net profit fell 15% YoY to SAR 572 million, driven by lower total operating income due to a decrease in fee income and revaluation loss on FVSI investments.
When compared to the previous quarter, net profit grew 54.5% due to lower total operating expenses and impairment charges.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Assets | 123.48 | 142.20 | 15.2 % |
| Customer Deposits | 92.82 | 107.42 | 15.7 % |
| Financing Investments | 87.67 | 103.18 | 17.7 % |
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