| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 89,270 | 83,141 | 7.371 | 90,372 | -1.219 |
| Net Income From Special Commission of Financing | 36,689 | 37,809 | -2.962 | 37,805 | -2.951 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 36,689 | 37,809 | -2.962 | 37,805 | -2.951 |
| Net Profit (Loss) before Zakat and Income Tax | 6,411 | 5,607 | 14.339 | 7,438 | -13.807 |
| Net Profit/(Loss) | 5,112 | 4,769 | 7.192 | 6,040 | -15.364 |
| Total Comprehensive Income | 5,432 | 5,229 | 3.882 | 6,354 | -14.51 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 83,922 | 79,154 | 6.023 | 82,734 | 1.435 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 236 | -782 | - | 1,598 | -85.231 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Income From Special Commission of Financing | 265,599 | 232,899 | 14.04 |
| Net Income From Special Commission of Financing | 107,919 | 95,364 | 13.165 |
| Net Income From Special Commission of Investment | - | - | - |
| Total Operations Profit (Loss) | 107,919 | 95,364 | 13.165 |
| Net Profit (Loss) before Zakat and Income Tax | 19,732 | 9,910 | 99.112 |
| Net profit (Loss) | 15,767 | 9,810 | 60.723 |
| Total Comprehensive Income | 16,398 | 9,532 | 72.031 |
| Assets | 4,523,803 | 4,361,117 | 3.73 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 4,289,320 | 4,117,629 | 4.169 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,677,051 | 1,668,250 | 0.527 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 250,594 | 227,656 | 10.075 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | -762 | -4,567 | -83.315 |
| Profit (Loss) per Share | 0.16 | 0.1 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | The company achieved a total income from special financing commissions during the current quarter amounting to 89.27 million riyals, compared to 83.14 million riyals for the same quarter of the previous year, with an increase of 7.4%. This improvement is due to the increase in profit rates on new loans as well as the growth in the size of the financing portfolio. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company achieved net profit of SR 5.11 million during the current quarter compared to SR 4.77 million reported in the same quarter of the previous year, marking a 7.2% increase. This improvement is due to an increase in the profit rates on new loans as well as higher income from special commissions, resulting in the overall increase in net profit. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is | The company recognized an amount of 0.236 million riyals net provisions for expected credit losses during the current quarter, compared to (0.782) million riyals (reversal of entry) during the same quarter of the previous year. The increase in the expected credit losses and other losses is due to the growth in the size of the financing portfolio. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The company achieved a total income from special financing commissions during the current quarter amounting to 89.27 million riyals, compared to 90.37 million riyals for the previous quarter, with a decrease of 1.2%. This decrease is due to the slight reduction in service fees income. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | The company achieved net profit of SR 5.11 million during the current quarter compared to SR 6.04 million reported in the previous quarter, marking a 15% decrease. The decrease due to increase in the general and admin expenses during current the quarter. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is | The company recognized an amount of 0.236 million riyals net provisions for expected credit losses during the current quarter, compared to 1.598 million riyals during the previous quarter. The reduction in the expected credit losses and other losses is due to the improvement in the performance of the financing portfolio compared to previous quarter. |
| The reason of the increase (decrease) in special commission income during the current period compared to the same period of the last year is | The company achieved a total income from special financing commissions during the current period amounting to 265.59 million riyals, compared to 232.89 million riyals for the same period of the previous year, an increase of 14.04%. This improvement is due to the increase in profit rates on new loans as well as the growth in the size of the financing portfolio |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The company achieved net profit of SR 15.77 million during the current period compared to SR 9.81 million reported in the same period of the previous year, marking a 60.72% increase. This improvement is due to an increase in the profit rates on new loans as well as higher income from special commissions, resulting in the overall increase in net profit. |
| The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current period compared to the same period of the last year is | The company recognized an amount of (0.762) million riyals (reversal of entry) net provisions for expected credit losses during the current period, compared to (4.56) million riyals (reversal of entry) during the same period last year. The increase in the for expected credit losses and other losses is due to the growth in the size of the financing portfolio compared to the same period last year |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | No comparative figures have been reclassified to conform to the current period presentation. |
| Additional Information | The company is not engaged in any Deposit taking activities, therefore it is not applicable. The company is not engaged in investment activities that produces special commission income from investments Net income from special commission amount represents the difference between total income from special commission (Total operating income) and the finance charge amount and the direct cost in the income statement. |
