Element List

Current Quarter

Similar quarter for previous year

%Change

Previous Quarter

% Change

Total income from Special Commissions/Financing & Investments

664

914

-27.352

703

-5.547

Net Income from Special Commissions/Financing & Investments

543

583

-6.861

554

-1.985

Total Operation Profit (Loss)

635

718

-11.559

690

-7.971

Net Profit (Loss) before Zakat and Income Tax

264

173

52.601

340

-22.352

Net Profit (Loss)

213

151

41.059

265

-19.622

Total Comprehensive Income

73

-1,500

-

566

-87.102

Element List

Current Period

Similar period for previous year

%Change

Total Share Holders Equity (after Deducting Minority Equity)

13,389

10,492

27.611

Assets

96,270

100,805

-4.498

Investments

30,464

27,380

11.263

Loans and Advances Portfolio (Financing & Investment)

55,424

59,877

-7.436

Clients' deposits

56,123

67,642

-17.029

Profit (Loss) per Share

0.29

0.2

-

Element List

Explanation

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

Net profit increased by 41% primarily due to a decrease in total operating expenses which was due to a decrease in provisions for credit and other losses, other general and administrative expenses, salaries and employee-related expenses, rent and premises related expenses, and depreciation and amortization, which was offset by an increase in provisions for Zakat and Income Tax.

Total operating income decreased by 12% primarily due to a decrease in net special commission income, fair value through profit and loss, gains on disposals of FVOCI debt securities, and exchange income, which was offset by an increase in fee income from banking services, and other income.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is

Net profit decreased by 20% primarily due to a decrease in total operating income which was due to a decrease in gains on disposal of FVOCI debt securities, net special commission income, and exchange income, which was offset by an increase in fair value through profit and loss, fee income from banking services, and other income.

Total operating expenses increased by 1% primarily due to an increase in other general and administrative expenses and depreciation and amortization, which was offset by a decrease in provisions for Zakat and Income Tax, provisions for credit and other losses, salaries and employee-related expenses, and rent and premises-related expenses.

Statement of the type of external auditor's report

Unmodified opinion

Reclassification of Comparison Items

None

Additional Information

Earnings per share for the three month period ended March 31, 2021 and March 31, 2020 was SAR 0.29 and SAR 0.2 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 675 million shares representing the weighted average of the issued and outstanding shares after giving effect to the purchase of 56.2 million and 18.7 million Treasury shares on September 27, 2018 and May 28, 2019 respectively.