Element list

Current quarter

Similar quarter for previous year

% Change

Previous quarter

% Change

Gross Income from Special Commissions/Financing & Investments

1,103

708.6

55.66

887.5

24.28

Net Income from Special Commissions/Financing & Investments

757.9

595.1

27.36

671

12.95

Total operation Profit (Loss)

858.2

680.2

26.17

772.5

11.09

Net Profit (Loss) before Zakat and Income Tax

670.7

342.2

96

391

71.53

Net Profit (Loss)

550

274.3

100.51

320.7

71.5

Total Comprehensive Income

99

166.7

-40.61

-466.1

-

Total Operating Expenses Before Provisions for Credit and Other Losses

364.3

302.6

20.39

339.4

7.34

Total Comprehensive Income

-149

51

-

53.6

-

Element list

Current period

Similar period for previous year

% Change

Gross Income from Special Commissions/Financing & Investments

2,720.5

2,081.5

30.7

Net Income from Special Commissions/Financing & Investments

2,016.5

1,724.4

16.94

Total operation Profit (Loss)

2,347.8

2,029.3

15.7

Net Profit (Loss) before Zakat and Income Tax

1,411.7

919.4

53.55

Net Profit (Loss)

1,157.6

775.6

49.25

Total Comprehensive Income

-622.5

678.1

-

Total Share Holders Equity (excluding Non-Controlling Interest)

13,293

14,688

-9.5

Assets

106,537

99,640

6.92

Investments

26,944

29,300

-8.04

Loans and Advances Portfolio (Financing & Investment)

64,665

58,290

10.94

Total Operating Expenses Before Provisions for Credit and Other Losses

1,048.4

909.6

15.26

Total Provisions (Reversals) for Expected Credit and Other Losses, net

-57.7

225.6

-

Customer deposits

67,605

60,861

11.08

Profit (Loss) per Share

1.1

0.75

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 100.5% due to an increase in total operating income and a decrease in total operating expenses.
Total operating income increased by 26.2% 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, and fee income from banking services.

Total operating expenses decreased by 39.1% 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, and depreciation and amortization.

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

Net profit increased by 71.5% due to an increase in total operating income and a decrease in total operating expenses.
Total operating income increased by 11.1% primarily due to an increase in net special commission income, exchange income and gains on disposals of FVOCI debt securities, which was offset by a decrease in fee income from banking services and fair value through profit and loss.

Total operating expenses decreased by 45.2% primarily due to a decrease in provisions for credit and other losses, which was offset by an increase in salaries and employee-related expenses, other general and administrative expenses, depreciation and amortization and rent and premises related expenses.

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

Net profit increased by 49.3% due to an increase in total operating income and a decrease in total operating expenses.
Total operating income increased by 15.7% 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 12.7% 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 nine month period ended September 30, 2022 and 2021 was SAR 1.10 and 0.75 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.