Alinma Bank reported a net profit of SAR 1.749 billion in the first six months of 2022, a jump of 29%, compared to SAR 1.352 billion in a year earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 2,438.07 | 2,725.01 | 11.8 % |
| Operating Income | 3,257.38 | 3,739.75 | 14.8 % |
| Total Provisions | (683.57) | (489.38) | 28.4 % |
| Net Income | 1,352.17 | 1,749.84 | 29.4 % |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.54 | 0.70 | 29.4 % |
| EPS Diluted (Riyals) | 0.54 | 0.68 | 25.9 % |
This was driven by a year-on-year (YoY) increase of 14.8% in total operating income, mainly due to the growth in net income from financing and investments, FVIS investment income, exchange income and other operating income.
This was despite a 2.5% YoY surge in total operating expenses due to higher general and administrative (G&A) expenses, salaries expenses, rents and depreciation expenses.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 1,231.43 | 1,413.49 | 14.8 % |
| Operating Income | 1,653.14 | 1,932.14 | 16.9 % |
| Debt Provisions | (336.80) | (248.35) | 26.3 % |
| Net Income | 710.33 | 925.09 | 30.2 % |
| Average Shares | 2,500.00 | 2,500.00 | - |
| EPS (Riyals) | 0.28 | 0.37 | 30.2 % |
| EPS Diluted (Riyal) | 0.28 | 0.35 | 25.7 % |
Q2 2022 net profit rose by 30.2% YoY to SAR 925.1 million, motivated by a 16.9% hike in total operating income on higher net income from financing, although total operating expenses leapt by 4.9% YoY.
On a sequential basis, net profit rose 12.2%, thanks to a 6.9% jump in total operating income, despite a 2% increase in total operating expenses.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Assets | 164.06 | 184.62 | 12.5 % |
| Customer Deposits | 125.88 | 130.38 | 3.6 % |
| Financing Investments | 119.62 | 131.19 | 9.7 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 31.467 billion by the end of H1 2022, compared to SAR 25.198 billion in the year-earlier period.
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