Element list

Current quarter

Similar quarter for previous year

% Change

Previous quarter

% Change

Total income from Special Commissions/Financing & Investments

887.5

704.1

26.05

730

21.57

Net Income from Special Commissions/Financing & Investments

671

584.5

14.8

591.7

13.4

Total operation Profit (Loss)

772.5

716.7

7.79

721.1

7.13

Net Profit (Loss) before Zakat and Income Tax

391

313.6

24.68

350

11.71

Net Profit (Loss)

320.7

287.8

11.43

287

11.74

Total Comprehensive Income

-466.1

438.1

-

-254.7

83

Element list

Current period

Similar period for previous year

% Change

Total income from Special Commissions/Financing & Investments

1,617.5

1,368.5

18.2

Net Income from Special Commissions/Financing & Investments

1,258.7

1,124.8

11.9

Total operation Profit (Loss)

1,489.6

1,349.1

10.41

Net Profit (Loss) before Zakat and Income Tax

741.1

577.2

28.39

Net Profit (Loss)

607.7

501.3

21.22

Total Comprehensive Income

-721.5

511.3

-

Total Share Holders Equity (after deducting minority equity)

13,511

13,517

-0.04

Assets

110,798

98,409

12.59

Investments

28,381

29,861

-4.96

Loans and Advances Portfolio (Financing & Investment)

62,263

56,296

10.6

Customer deposits

67,459

59,782

12.84

Profit (Loss) per Share

0.56

0.48

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 11.4% due to an increase in total operating income and a decrease in total operating expenses.
Total operating income increased by 7.8% primarily due to an increase in net special commission income, fair value through profit and loss and exchange income, which was offset by a decrease in gains on disposals of FVOCI debt securities, fee income from banking services and other income.
Total operating expenses decreased by 4.6% primarily due to a decrease in provisions for credit and other losses and rent and premises related expenses, which was offset by an increase in other general and administrative expenses, salaries and employee-related expenses and depreciation and amortization.

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 increased by 11.7% due to an increase in total operating income.
Total operating income increased by 7.1% primarily due to an increase in net special commission income, exchange income and fair value through profit and loss, which was offset by a decrease in fee income from banking services and gains on disposals of FVOCI debt securities.

Total operating expenses increased by 1.7% primarily due to an increase in provisions for credit and other losses, other general and administrative expenses and depreciation and amortization, which was offset by a decrease in rent and premises related expenses and salaries and employee-related expenses.

Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to

Net profit increased by 21.2% due to an increase in total operating income and a decrease in total operating expenses.
Total operating income increased by 10.4% primarily due to an increase in net special commission income, fair value through profit and loss and exchange income, which was offset by a decrease in gains on disposals of FVOCI debt securities, other income and fee income from banking services.

Total operating expenses decreased by 0.8% primarily due to a decrease in provisions for credit and other losses, which was offset by an increase in other general and administrative expenses, salaries and employee-related expenses, rent and premises related expenses and depreciation and amortization.

Statement of the type of external auditor's report

Unmodified opinion.

Reclassification of Comparison Items

Certain prior period amounts have been reclassified to conform to current period presentation.

Additional Information

Earnings per share for the six month period ended June 30, 2022 and 2021 was SAR 0.56 and 0.48 respectively, which was calculated by dividing net income adjusted for Tier I Sukuk costs by 1,000 million shares and 939 million shares respectively representing the weighted average of the issued and outstanding shares after giving effect to the purchase and issuance of 74.9 million treasury shares.
The weighted average number of outstanding shares have been retrospectively adjusted for prior period to reflect the effect of the changes in number of shares due to bonus element included in the treasury shares and bonus shares issued.