Alinma Bank Q1 2022 net profit rises 29% to SAR 824.7 mln

27/04/2022 Argaam Exclusive

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Alinma Bank posted a net profit of SAR 824.7 million for Q1 2022, a rise of 29% compared to SAR 641.8 million from the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2021	Q1 2022	Change‬
Net Income from investments and financial activities	1,206.64	1,311.57	8.7 %
Operating Income	1,604.24	1,807.61	12.7 %
Debt Provisions	(346.77)	(241.02)	30.5 %
Net Income	641.84	824.75	28.5 %
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	0.26	0.33	28.5 %
EPS Diluted (Riyal)	0.26	0.33	26.2 %

Item	Q4 2021	Q1 2022	Change‬
Net Income from investments and financial activities	1,309.43	1,311.57	0.2 %
Operating Income	1,680.16	1,807.61	7.6 %
Debt Provisions	(288.98)	(241.02)	16.6 %
Net Income	619.13	824.75	33.2 %
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	0.25	0.33	33.2 %
EPS Diluted (Riyal)	0.25	0.33	31.2 %

The profit growth was mainly due to 12.5% growth in total operating income as a result of increase in net income from financing and investment, FVIS investment income, exchange income and other operating profit partly offset by the slight decline in fee income.

Sequentially, Q1 2022 net profit rose 33.2% from SAR 619.13 million in Q4 2021.

Total shareholders’ equity, excluding minority interest, reached SAR 31.518 billion in Q1 2022, compared with SAR 25.081 billion a year before.

Balance Sheet (B)

Item	3m 2021	3m 2022	Change‬
Assets	159.95	179.52	12.2 %
Customer Deposits	120.71	128.04	6.1 %
Financing Investments	117.15	128.97	10.1 %

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