27/07/2022
Argaam Exclusive
Alinma Bank reported a net profit of SAR 1.749 billion in the first six months of 2022, a jump of 29%, compared to SAR 1.352 billion in a year earlier period.
This was driven by a year-on-year (YoY) increase of 14.8% in total operating income, mainly due to the growth in net income from financing and investments, FVIS investment income, exchange income and other operating income.
This was despite a 2.5% YoY surge in total operating expenses due to higher general and administrative (G&A) expenses, salaries expenses, rents and depreciation expenses.
Current Quarter Comparison (M)
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Net Income from investments and financial activities |
1,231.40 |
1,413.50 |
14.8 % |
| Operating Income |
1,653.10 |
1,932.10 |
16.9 % |
| Net Income |
710.33 |
925.10 |
30.2 % |
| Average Shares |
1,987.60 |
1,989.20 |
0.1 % |
| EPS (Riyals) |
0.36 |
0.47 |
30.1 % |
Q2 2022 net profit rose by 30.2% YoY to SAR 925.1 million, motivated by a 16.9% hike in total operating income on higher net income from financing, although total operating expenses leapt by 4.9% YoY.
On a sequential basis, net profit rose 12.2%, thanks to a 6.9% jump in total operating income, despite a 2% increase in total operating expenses.
Total shareholders’ equity, excluding minority interest, stood at SAR 31.467 billion by the end of H1 2022, compared to SAR 25.198 billion in the year-earlier period.
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Share Price
| Current | |
| Market Cap (M) | 76,200.00 |
| Book Value (BV) ( Riyal) | 15.73 |
| Adjusted P/E (Last12) | 24.52 |
| P/E (TTM) | 24.52 |
| Price/book | 2.42 |
| Return on Average Assets (%) (TTM) | 1.8 |
| Return on Average Equity (%) (TTM) | 11.0 |
Kindly,
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