Tadawul-


Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Total Income From Special Commission of Financing 4,172 3,377 23.541 3,918 6.482
Total Income From Special Commission of Investment 1,132 1,081 4.717 1,163 -2.665
Net Income From Special Commission of Financing 2,526 2,242 12.667 2,434 3.779
Net Income From Special Commission of Investment 235 337 -30.267 299 -21.404
Total Operations Profit (Loss) 3,528 3,247 8.654 3,492 1.03
Net Profit (Loss) before Zakat and Income Tax 2,217 2,118 4.674 2,360 -6.059
Net Profit/(Loss) 1,883 1,830 2.896 2,018 -6.689
Total Comprehensive Income 3,664 877 317.787 1,725 112.405
Total Operating Expenses Before Provisions for Credit and Other Losses 1,074 1,045 2.775 1,075 -0.093
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 309 144 114.583 112 175.892
All figures are in (Millions) Saudi Arabia, Riyals


Element List Current Period Similar Period For Previous Year %Change
Total Income From Special Commission of Financing 11,823 9,247 27.857
Total Income From Special Commission of Investment 3,429 3,101 10.577
Net Income From Special Commission of Financing 7,345 6,603 11.237
Net Income From Special Commission of Investment 858 1,037 -17.261
Total Operations Profit (Loss) 10,467 9,532 9.809
Net Profit (Loss) before Zakat and Income Tax 6,928 6,109 13.406
Net profit (Loss) 5,944 5,145 15.529
Total Comprehensive Income 6,578 4,388 49.908
Assets 395,345 340,478 16.114
Investments 97,704 88,796 10.031
Loans And Advances Portfolio (Financing And Investment) 252,399 211,404 19.391
Clients' deposits 260,632 228,053 14.285
Total Shareholders Equity (after Deducting Minority Equity) 64,163 55,539 15.527
Total Operating Expenses Before Provisions for Credit and Other Losses 3,200 3,047 5.021
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 502 512 -1.953
Profit (Loss) per Share 2.78 2.5
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 The gross special commission income was higher by 19% primarily driven by the impact of interest rate hikes and volume growth mainly from loans. However, net special commission income was only higher by 7%, as special commission expense grew reflecting the higher rate environment and the increase in proportion of special commission expense bearing term 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 The net profit was higher by 3% primarily driven by an increase in total operating income. This was partly offset by an increase in provision for expected credit losses, provision for Zakat and income tax, and total operating expenses.
Total operating income increased mainly due to an increase in net special commission income, exchange income, net fee and commission income, and gain from FVSI financial instruments.

Total operating expenses increased primarily due to the increase in salaries and employee related expenses and general and administrative expenses, which were partly offset by a decrease in depreciation and amortisation.

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 provision for expected credit losses increased by 114% mainly due to lower recoveries during the current quarter.
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is The gross special commission income was higher by 4% driven at the total bank level equally by volume growth and positive yields. The main element driving the increase in gross special commission income was from the loan portfolio that in contrast to the overall bank was driven more by loan growth and to a lesser extent positive yield impacts.
However, net special commission income increased by 1% as the special commission expense was higher by 8% primarily driven by an increase in time deposits.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is Net profit was lower by 7% driven by an increase in provision for expected credit losses. This was partly offset by an increase in total operating income.
Total operating income increased due to decrease in the realized losses on FVOCI debt instruments, decrease in losses on the sale of amortised cost investments, and increase in exchange income, and net special commission income. This was partially offset by a decrease in gain from FVSI financial instruments.

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 provision for expected credit losses increased by 175% mainly due to additional impairment charges for the corporate loan portfolio and lower recoveries during the 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 gross special commission income was higher by 24% primarily driven by the impact of interest rate hikes and volume growth mainly from loans. However, net special commission income was only higher by 7%, as special commission expense grew reflecting the higher rate environment and the increase in the proportion of special commission expense bearing term deposits.
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 net profit was higher by 16% primarily driven by an increase in total operating income. This was partly offset by an increase in total operating expenses.
Total operating income increased mainly due to an increase in net special commission income by SAR 563 million, net fee and commission income by SAR 220 million and exchange income by SAR 152 million.

Total operating expenses increased primarily due to increase in salaries and employee related expenses.

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 Net provision for expected credit losses decreased by 2% due to lower net impairment charges for the current period.
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 prior period figures have been reclassified to be aligned with the presentation in the current period.
Additional Information Earnings per share for the three month and nine month period ended 30 September 2024 and 30 September 2023 are calculated by dividing the net income after Zakat and income tax attributable to equity holders of the Bank (adjusted for Tier 1 Sukuk costs) by 2,055 million weighted average number of shares outstanding during the three month and nine month period ended 30 September 2024 and 30 September 2023.