Amlak International Finance Co. Announces its Interim Financial Results for the Period Ending on 2025-06-30 (Six Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 139,323 | 105,131 | 32.523 | 138,189 | 0.82 |
| Net Income From Special Commission of Financing | 82,822 | 56,138 | 47.532 | 81,416 | 1.726 |
| Net Income From Special Commission of Investment | - | - | - | - | - |
| Total Operations Profit (Loss) | 83,072 | 56,388 | 47.322 | 81,666 | 1.721 |
| Net Profit (Loss) before Zakat and Income Tax | 25,689 | 10,373 | 147.652 | 15,012 | 71.123 |
| Net Profit/(Loss) | 20,390 | 8,233 | 147.661 | 11,915 | 71.128 |
| Total Comprehensive Income | 19,642 | 7,017 | 179.92 | 7,146 | 174.867 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 45,775 | 38,629 | 18.499 | 45,965 | -0.413 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 11,608 | 7,386 | 57.162 | 20,689 | -43.892 |
| 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 | 277,512 | 204,155 | 35.932 |
| Net Income From Special Commission of Financing | 164,238 | 107,097 | 53.354 |
| Net Income From Special Commission of Investment | - | - | - |
| Total Operations Profit (Loss) | 164,738 | 107,638 | 53.048 |
| Net Profit (Loss) before Zakat and Income Tax | 40,701 | 21,497 | 89.333 |
| Net profit (Loss) | 32,305 | 16,839 | 91.846 |
| Total Comprehensive Income | 26,788 | 19,447 | 37.748 |
| Assets | 4,611,511 | 4,147,332 | 11.192 |
| Investments | 893 | 893 | - |
| Loans And Advances Portfolio (Financing And Investment) | 4,383,403 | 4,001,049 | 9.556 |
| Clients' deposits | - | - | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,251,507 | 1,205,069 | 3.853 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 91,740 | 73,753 | 24.388 |
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 32,297 | 12,388 | 160.711 |
| Profit (Loss) per Share | 0.32 | 0.17 | |
| 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 Total Income From Special Commission of Financing of SR 139.32 million during current quarter, compared to SR 105.13 million for the same quarter during last year, representing an increase of 32.52%
The increase is mainly attributable to Increase in Loans and Advances Portfolio of Company during the period by 9.56% as well as enhancement of yield on such portfolio during the period. |
| 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 a net profit of SR 20.39 million during current quarter, compared to SR 8.23 million for the same quarter during last year, representing an increase of 147.66%.
The increase in net profit is mainly attributable to:
- Increase in Income From Special Commission of Financing, partially offset by - Increase in Finance cost - Increase in Operating Expenses, and - Increase in net provision of expected credit losses. |
| 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 SR 11.61 million in net provision of expected credit losses during current quarter, compared to SR 7.39 million during same quarter of last year, representing an increase of 57.16%.
The increase in total net provision of expected credit losses and other losses is attributable to:
- Growth in Loans and Advances Portfolio of the Company compared to same quarter of last year; and - Refinement in expected credit losses model assumptions and estimation methodology. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | The company achieved Total Income From Special Commission of Financing of SR 139.32 million during current quarter, compared to SR 138.19 million for the previous quarter, representing an increase of 0.82%.
The increase is mainly attributable to Increase in Loans and Advances Portfolio of Company as well as enhancement of yield on such portfolio during the period. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | The company achieved a net profit of SR 20.39 million during current quarter, compared to SR 11.92 million for the previous quarter, representing an increase of 71.13%.
The increase in net profit is mainly attributable to:
- Decrease in net provision of expected credit losses, and - Increase in Income from Special Commission of Financing. |
| 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 SR 11.61 million in net provision of expected credit losses during current quarter, compared to SR 20.69 million during previous quarter, representing a decrease of 43.89%.
The reduction is mainly attributable to improved collections and recovery during current quarter, and an overall enhancement in the customer credit profile. |
| 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 Total Income From Special Commission of Financing of SR 277.51 million during current period, compared to SR 204.16 million for the previous period, representing an increase of 35.93%.
The increase is mainly attributable to Increase in Loans and Advances Portfolio of Company during the period by 9.56% as well as enhancement of yield on such portfolio during the period. |
| 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 a net profit of SR 32.31 million during current period, compared to SR 16.84 million for the previous period, representing an increase of 91.85%.
The increase in net profit is mainly attributable to:
- Increase in Income From Special Commission of Financing, partially offset by - Increase in Finance cost - Increase in Operating Expenses, and - Increase in net provision of expected credit losses. |
| 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 SR 32.30 million in net provision charge of expected credit losses during current period, compared to SR 12.39 million during same period of last year, representing an increase of 160.71%.
The increase in total net provision of expected credit losses and other losses is attributable to:
- Growth in Loans and Advances Portfolio of the Company; and - Refinement in expected credit losses model assumptions and estimation methodology. |
| 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 be consistent with the presentation of the current period. |
| Additional Information | Following notes are relevant to this submission:
1. The company is currently not engaged in any deposit taking activity, therefore customer deposits are not applicable. 2. The company is currently not engaged in any activity for special commission income from investment, therefore special commission income from investment is not applicable. |
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