Bank AlJazira announces its Interim Financial Results for the Period Ended on 31-03-2025 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 1,584.8 | 1,350 | 17.392 | 1,586.5 | -0.107 |
| Total Income From Special Commission of Investment | 496.9 | 490.9 | 1.222 | 572.9 | -13.265 |
| Net Income From Special Commission of Financing | 634.3 | 534.5 | 18.671 | 579.7 | 9.418 |
| Net Income From Special Commission of Investment | 119.6 | 85.5 | 39.883 | 155.4 | -23.037 |
| Total Operations Profit (Loss) | 1,079.2 | 888.3 | 21.49 | 967.3 | 11.568 |
| Net Profit (Loss) before Zakat and Income Tax | 411.9 | 347.3 | 18.6 | 319.7 | 28.839 |
| Net Profit/(Loss) | 361 | 300.4 | 20.173 | 280.2 | 28.836 |
| Total Comprehensive Income | 750 | 22 | 3,309.09 | -87.4 | - |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 565.7 | 491.8 | 15.026 | 559.8 | 1.053 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 103 | 55.4 | 85.92 | 91.7 | 12.322 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Assets | 153,156 | 135,821 | 12.763 |
| Investments | 36,711 | 33,972 | 8.062 |
| Loans And Advances Portfolio (Financing And Investment) | 100,571 | 84,116 | 19.562 |
| Clients' deposits | 109,644 | 97,268 | 12.723 |
| Total Shareholders Equity (after Deducting Minority Equity) | 18,868 | 16,437 | 14.789 |
| Profit (Loss) per Share | 0.28 | 0.23 | |
| All figures are in (Millions) 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 (Millions) 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 | Net financing and investment income has increased by 22% due to an increase in income from investments and financing by 13%. This increase is mainly due to higher income from financing and investment which increased primarily as a result of portfolio growth.
On the other hand, return on deposits and financial liabilities has increased by 9%. The increase in return on deposits and financial liabilities is due to an increase in return on customers deposits. |
| 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 income has increased by 20% mainly due to an increase in operating income by 21%. The increase in operating income is mainly due to an increase in net financing and investment income, net fees from banking services, dividend income and net exchange income against a decrease in net gains on FVIS financial instruments and other operating income.
On the other hand, total operating expenses have increased by 22% mainly due to an increase in net impairment charge for financing and other financial assets, salaries and employee-related expenses, other general and administrative expenses and other operating expenses against a reduction in depreciation and amortization expenses and rent and premises related expenses.
The increase in net income was also offset by a decrease in share in net income of an associate and higher zakat charge for the period. |
| 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 | Net impairment charge for financing and other financial assets has increased by 86% mainly due to higher provisioning requirements for Commercial financing. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | Net financing and investment income has increased by 3% mainly due to a decrease in return on deposits and financial liabilities by 7%. The decrease in return on deposits and financial liabilities is mainly due to a decrease in return on customers deposits, shariah compliant derivatives and Due to banks and other financial institutions.
On the other hand, Income from investments and financing has decreased by 4% mainly due to a decrease in income on due from banks and other financial institutions and shariah compliant derivatives. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Net income has increased by 29% mainly due to an increase in total operating income by 12%. The increase in total operating income is mainly due to an increase in net fees from banking services, net financing and investment income, dividend income, net gains on FVIS financial instruments and net exchange income.
On the other hand, total operating expenses have increased by 3%. The increase in total operating expenses is mainly due an increase in other general and administrative expenses, net impairment charge for financing and other financial assets and salaries and employee-related expenses against a decrease in other operating expenses and rent and premises related expenses.
The increase in net income was also offset by higher zakat charge during the period. |
| 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 | Net impairment charge for financing and other financial assets has increased by 12% mainly due to higher provisioning requirements for Retail financing. |
| 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 | Certain items have been re-classified to conform to current period presentation. |
| Additional Information | 1- Earnings per share for the current and prior periods have been calculated by dividing net income for the period after Zakat and income tax (adjusted for Tier 1 Sukuk costs) by the weighted average number of shares outstanding (adjusted for treasury shares) i.e. 1,278 million shares (Q1,2024: 1,281 million shares).
2-Earnings per share for the comparative periods has been recalculated to reflect the increase in the bank’s capital from 1,025 million shares to 1,281 million shares due to issue of bonus shares in the ratio of one share for every four shares as approved in the extraordinary general assembly meeting held on 28 April 2025.
3- The Extraordinary General Assembly Meeting held on 11 December 2024, approved the Employee Share Plan for which 4.5 million shares have been purchased as treasury shares for allocating them under the Employee Share Plan. |
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