Alinma Bank 2023 profit up 35% to SAR 4.83B; Q4 at SAR 1.32B

05/02/2024 Argaam Exclusive

View other reports

Alinma Bank reported a 35% rise in 2023 net profit to SAR 4.83 billion, compared to SAR 3.59 billion a year earlier.

Financials (M)

Item	2022	2023	Change‬
Net Income from investments and financial activities	6,066.47	7,654.51	26.2 %
Operating Income	7,963.06	9,725.66	22.1 %
Total Provisions	(1197.70)	(1272.10)	(6.2 %)
Net Income	3,599.14	4,839.21	34.5 %
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	1.44	1.94	34.5 %
EPS Diluted (Riyals)	1.38	1.86	34.7 %

Income from investments and financing increased mainly due to growth in financing and investments volume and higher profit rates.

The bank also posted higher net income due to a 22.1% 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 were partly offset by lower FVSI and other operating income.

The fourth-quarter net profit leapt 54% to SAR 1.32 billion from SAR 860.2 million in Q4 2022.

Meanwhile, the three-month bottom line fell by 0.3% quarter on quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Net Income from investments and financial activities	1,667.81	2,054.17	23.2 %
Operating Income	2,147.89	2,568.74	19.6 %
Debt Provisions	(435.79)	(308.54)	29.2 %
Net Income	860.28	1,320.34	53.5 %
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	0.34	0.53	53.5 %
EPS Diluted (Riyal)	0.32	0.51	60.0 %

Item	Q3 2023	Q4 2023	Change‬
Net Income from investments and financial activities	2,005.90	2,054.17	2.4 %
Operating Income	2,540.64	2,568.74	1.1 %
Debt Provisions	(300.99)	(308.54)	(2.5 %)
Net Income	1,323.90	1,320.34	(0.3 %)
Average Shares	2,500.00	2,500.00	-
EPS (Riyals)	0.53	0.53	(0.3 %)
EPS Diluted (Riyal)	0.51	0.51	0.0 %

Balance Sheet (B)

Item	2022	2023	Change‬
Assets	200.44	236.72	18.1 %
Customer Deposits	145.17	187.90	29.4 %
Financing Investments	146.49	173.62	18.5 %

Shareholders’ equity, with no minority interest and after excluding sukuk, stood at SAR 29.33 billion as of Dec. 31, 2023, compared to SAR 26.87 billion in the year-earlier period.

View More Financial Results

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×