AnnouncementDetails

Actions

Bank AlJazira announces its Interim Financial Results for the Period Ended on 30-09-2020 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Revenue from Special Commissions/Financing & Investments 755.3796.4-5.16794.4-4.921
Net Income from Special Commissions/Financing & Investments 616.8517.719.142596.73.368
Total Operation Profit (Loss) 811.9749.68.311789.42.85
Net Profit (Loss) before Zakat and Income Tax 200.8284.5-29.42198.71.056
Net Profit (Loss) 181.6256.9-29.311165.89.529
Total Comprehensive Income 165.7248.5-33.319211.6-21.691
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Revenue from Special Commissions/Financing & Investments 2,355.12,315.71.701
Net Income from Special Commissions/Financing & Investments 1,758.61,50916.54
Total Operation Profit (Loss) 2,370.22,159.99.736
Net Profit (Loss) before Zakat and Income Tax 616.2828.3-25.606
Net Profit (Loss) 529743.7-28.869
Total Comprehensive Income 458.5725.7-36.819
Total Share Holders Equity (after Deducting Minority Equity) 11,80211,3154.304
Assets 91,91180,61414.013
Investments 30,09427,5789.123
Loans and Advances Portfolio (Financing & Investment) 54,13844,53021.576
Customer Deposits 62,97659,0526.644
Profit (Loss) per Share 0.650.91
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to Same Quarter Last Year is Attributed to Net income has decreased by 29% due to an increase in operating expenses by 31%. However, total operating income has increased by 8%. The increase in operating expenses is mainly due to an increase in net impairment charge for credit losses, other general and administrative expenses and depreciation and amortization expenses against a decrease in other operating expenses and salaries and employee-related expenses. The increase in operating income is mainly attributable to an increase in net special commission income and net gain on FVIS financial instruments against a decrease in net banking fee, net gains on derecognition of financial assets measured at amortised cost, other operating income and net gains on derecognition of financial assets measured at FVOCI.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Net income has increased by 10% mainly due to an increase in operating income by 3%. This is mainly attributable to an increase in net banking fee and net special commission income against a decrease in other operating income, net exchange income and net gains on derecognition of financial assets measured at FVOCI. For operating expenses there is an increase of 3% mainly due to increase in other general and administrative expenses, net impairment charge for credit losses and depreciation and amortization expenses.
Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to Net income has decreased by 29% due to an increase in operating expenses by 32%. However, total operating income has increased by 10%. The increase in operating expenses is mainly due to an increase in net impairment charge for credit losses, salaries and employee-related expenses, other general and administrative expenses and depreciation and amortization expenses against a decrease in other operating expenses and rent and premises related expenses. The increase in operating income is mainly attributable to an increase in net special commission income, net exchange income, other operating income, net gains on derecognition of financial assets measured at FVOCI and net gain on FVIS financial instruments against a decrease in net banking fee and net gains on derecognition of financial assets measured at amortised cost.
Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items Some items have been re-classified to conform to current period presentation.
Additional Information 1- Net impairment charge for credit losses for current quarter is SR 180.1 million as compared to SR 40.3 million in similar quarter of previous year, an increase of 346%. And as compared to SR 173 million in the previous quarter with an increase of 4%.

2- Net impairment charge for credit losses for current period is SR 475.1 million as compared to SR 79.2 million in similar period of previous year, an increase of 500%.

3- Earnings per share for the current and prior periods have been calculated based on net income for the period after Zakat and income tax.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
13.56 -0.06 (-0.44%)
Value Traded (SAR) Volume Traded
30,498,524.7 2,245,046