Alinma bank posts higher net profit at SAR 725m in I3 of 2013

Alinma bank posts higher net profit at SAR 725m in I3 of 2013

30/09/2013 Argaam Exclusive

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Alinma bank reported SAR 725m net profit at the end of I3 of 2013, compared to SAR 526m in the same period last year, as shown in the following table:



Financials (M)

Item 9m 2012 9m 2013 Change‬
Net Income from investments and financial activities 1,083.82 1,360.63 25.5 %
Operating Income 1,336.33 1,623.30 21.5 %
Total Provisions (128.36) (139.83) (8.9 %)
Net Income 525.55 724.90 37.9 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.21 0.29 37.9 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2012 Q3 2013 Change‬
Net Income from investments and financial activities 407.10 460.46 13.1 %
Operating Income 459.10 542.46 18.2 %
Debt Provisions (44.07) (28.31) 35.8 %
Net Income 195.65 262.03 33.9 %
Average Shares 2,500.00 2,500.00 -
EPS (Riyals) 0.08 0.10 33.9 %

Balance Sheet (B)

Item 9m 2012 9m 2013 Change‬
Assets 49.85 59.14 18.6 %
Customer Deposits 28.57 37.62 31.7 %
Financing Investments 35.00 41.91 19.7 %


Financial results (Million)

Period Net Income from investments and financial activities Change Operating Income Change Debt Provisions Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 177.96 - 178.21 - - -
Q2 2009 152.81 - 153.56 - - -
Q3 2009 144.07 - 145.22 - - -
Q4 2009 470.66 - 476.99 - - -
Q1 2010 67.26 (62.2 %) 82.36 (53.8 %) - -
Q2 2010 161.61 5.8 % 174.26 13.5 % - -
Q3 2010 187.50 30.1 % 191.04 31.6 % - -
Q4 2010 108.77 (76.9 %) 214.57 (55.0 %) (3.00) -
Q1 2011 219.18 225.9 % 261.71 217.8 % (2.00) -
Q2 2011 277.87 71.9 % 307.25 76.3 % (5.04) -
Q3 2011 298.60 59.3 % 332.25 73.9 % (5.64) -
Q4 2011 315.91 190.4 % 487.05 127.0 % (112.06) (3,635.4 %)
Q1 2012 330.36 50.7 % 393.08 50.2 % (16.88) (743.8 %)
Q2 2012 346.36 24.7 % 484.15 57.6 % (67.41) (1,238.9 %)
Q3 2012 407.10 36.3 % 459.10 38.2 % (44.07) (681.9 %)
Q4 2012 433.31 37.2 % 489.72 0.5 % (26.01) 76.8 %
Q1 2013 443.27 34.2 % 521.71 32.7 % (51.03) (202.4 %)
Q2 2013 456.91 31.9 % 559.13 15.5 % (60.49) 10.3 %
Q3 2013 460.46 13.1 % 542.46 18.2 % (28.31) 35.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 109.38 - 0.04 - 109.38 0.04
Q2 2009 67.92 - 0.03 - 67.92 0.03
Q3 2009 38.65 - 0.02 - 38.65 0.02
Q4 2009 395.57 - 0.16 - 395.57 0.16
Q1 2010 (75.09) (168.7 %) (0.03) - (75.09) (0.03)
Q2 2010 3.30 (95.1 %) 0.00 - 3.30 0.00
Q3 2010 20.21 (47.7 %) 0.01 - 20.21 0.01
Q4 2010 66.80 (83.1 %) 0.03 - 66.80 0.03
Q1 2011 70.23 193.5 % 0.03 - 70.23 0.03
Q2 2011 102.50 3007.9 % 0.04 - 102.50 0.04
Q3 2011 122.30 505.1 % 0.05 - 122.30 0.05
Q4 2011 136.30 104.1 % 0.05 - 136.30 0.05
Q1 2012 150.48 114.3 % 0.06 - 150.48 0.06
Q2 2012 179.42 75.0 % 0.07 - 179.42 0.07
Q3 2012 195.65 60.0 % 0.08 - 195.65 0.08
Q4 2012 207.61 52.3 % 0.08 - 207.61 0.08
Q1 2013 221.41 47.1 % 0.09 - 221.41 0.09
Q2 2013 241.46 34.6 % 0.10 - 241.46 0.10
Q3 2013 262.03 33.9 % 0.10 - 262.03 0.10

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - 64.42 %
Q1 2010 2.44 % 2.75 % 50.85 %
Q2 2010 1.74 % 2.33 % 42.49 %
Q3 2010 1.71 % 2.21 % 38.01 %
Q4 2010 0.07 % 0.10 % 2.74 %
Q1 2011 0.66 % 1.03 % 22.24 %
Q2 2011 0.91 % 1.67 % 30.56 %
Q3 2011 1.26 % 2.31 % 37.34 %
Q4 2011 1.36 % 2.74 % 36.42 %
Q1 2012 1.47 % 3.24 % 39.27 %
Q2 2012 1.54 % 3.69 % 42.61 %
Q3 2012 1.58 % 4.11 % 43.96 %
Q4 2012 1.61 % 4.50 % 44.83 %
Q1 2013 1.67 % 4.88 % 45.54 %
Q2 2013 1.70 % 5.19 % 45.78 %
Q3 2013 1.71 % 5.51 % 47.66 %

Balance Sheet (B)

Period Assets Change Customer Deposits Change Financing Investments Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 16.19 - 0.58 - 0.30 -
Q2 2009 16.61 - 0.54 - 0.42 -
Q3 2009 16.53 - 0.78 - 0.73 -
Q4 2009 17.31 - 1.50 - 1.11 -
Q1 2010 18.83 16.3 % 2.98 411.2 % 3.60 1095.0 %
Q2 2010 24.95 50.2 % 6.41 1091.6 % 8.43 1927.1 %
Q3 2010 23.77 43.8 % 6.79 767.2 % 13.75 1783.1 %
Q4 2010 26.67 54.1 % 8.32 455.3 % 15.59 1302.5 %
Q1 2011 29.61 57.2 % 11.31 280.3 % 20.38 466.6 %
Q2 2011 32.35 29.7 % 13.23 106.4 % 22.50 167.1 %
Q3 2011 33.85 42.4 % 15.85 133.6 % 24.06 74.9 %
Q4 2011 36.78 37.9 % 17.78 113.8 % 25.26 62.0 %
Q1 2012 39.87 34.7 % 21.33 88.5 % 27.61 35.5 %
Q2 2012 44.19 36.6 % 25.96 96.2 % 30.03 33.5 %
Q3 2012 49.85 47.3 % 28.57 80.2 % 35.00 45.4 %
Q4 2012 54.01 46.8 % 32.21 81.2 % 37.19 47.2 %
Q1 2013 56.24 41.0 % 34.36 61.1 % 39.42 42.8 %
Q2 2013 57.94 31.1 % 36.47 40.4 % 41.57 38.4 %
Q3 2013 59.14 18.6 % 37.62 31.7 % 41.91 19.8 %

Ratios

Period Customer Deposits Per Total Assets Financing Investments/Customer Deposits Financing Investments/Total Assets
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 3.60 % 51.70 % 1.86 %
Q2 2009 3.24 % 77.28 % 2.50 %
Q3 2009 4.73 % 93.34 % 4.42 %
Q4 2009 8.65 % 74.25 % 6.42 %
Q1 2010 15.80 % 120.88 % 19.10 %
Q2 2010 25.69 % 131.46 % 33.77 %
Q3 2010 28.55 % 202.67 % 57.86 %
Q4 2010 31.18 % 187.51 % 58.47 %
Q1 2011 38.21 % 180.11 % 68.82 %
Q2 2011 40.91 % 170.06 % 69.57 %
Q3 2011 46.83 % 151.82 % 71.09 %
Q4 2011 48.33 % 142.09 % 68.67 %
Q1 2012 53.49 % 129.43 % 69.24 %
Q2 2012 58.75 % 115.68 % 67.96 %
Q3 2012 57.31 % 122.51 % 70.21 %
Q4 2012 59.64 % 115.44 % 68.85 %
Q1 2013 61.10 % 114.72 % 70.09 %
Q2 2013 62.94 % 113.99 % 71.74 %
Q3 2013 63.61 % 111.41 % 70.87 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) EPS Diluted (Riyal) Book Value (BV)
Q1 2004 - - - - -
Q2 2004 - - - - -
Q3 2004 - - - - -
Q4 2004 - - - - -
Q1 2005 - - - - -
Q2 2005 - - - - -
Q3 2005 - - - - -
Q4 2005 - - - - -
Q1 2006 - - - - -
Q2 2006 - - - - -
Q3 2006 - - - - -
Q4 2006 - - - - -
Q1 2007 - - - - -
Q2 2007 - - - - -
Q3 2007 - - - - -
Q4 2007 - - - - -
Q1 2008 - - - - -
Q2 2008 - - - - -
Q3 2008 - - - - -
Q4 2008 - - - - -
Q1 2009 2,500.00 - - - 6.20
Q2 2009 2,500.00 - - - 6.22
Q3 2009 2,500.00 - - - 6.24
Q4 2009 2,500.00 0.24 0.24 - 6.24
Q1 2010 2,500.00 0.17 0.17 - 6.21
Q2 2010 2,500.00 0.14 0.14 - 6.21
Q3 2010 2,500.00 0.14 0.14 - 6.22
Q4 2010 2,500.00 0.01 0.01 - 6.25
Q1 2011 2,500.00 0.06 0.06 - 6.22
Q2 2011 2,500.00 0.10 0.10 - 6.26
Q3 2011 2,500.00 0.14 0.14 - 6.30
Q4 2011 2,500.00 0.17 0.17 - 6.36
Q1 2012 2,500.00 0.20 0.20 - 6.43
Q2 2012 2,500.00 0.24 0.24 - 6.49
Q3 2012 2,500.00 0.26 0.26 - 6.58
Q4 2012 2,500.00 0.29 0.29 - 6.67
Q1 2013 2,500.00 0.32 0.32 - 6.76
Q2 2013 2,500.00 0.35 0.35 - 6.85
Q3 2013 2,500.00 0.37 0.37 - 6.97

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - 1.02
Q2 2009 - - 1.27
Q3 2009 - - 1.29
Q4 2009 31.15 31.15 1.22
Q1 2010 45.31 45.31 1.25
Q2 2010 44.91 44.91 1.05
Q3 2010 47.97 47.97 1.06
Q4 2010 More than 100 More than 100 1.01
Q1 2011 More than 100 More than 100 0.95
Q2 2011 More than 100 More than 100 0.95
Q3 2011 38.35 38.35 0.88
Q4 2011 32.52 32.52 0.88
Q1 2012 45.74 45.74 1.46
Q2 2012 31.22 31.22 1.13
Q3 2012 29.35 29.35 1.18
Q4 2012 26.29 26.29 1.16
Q1 2013 24.62 24.62 1.17
Q2 2013 23.64 23.64 1.20
Q3 2013 22.60 22.60 1.21

Business Segments (Million)

Compared With The
Period Retail Corporate and Institutional Banking Global markets and Treasury Investment Banking and Brokerage Others
Q1 2009 - 1.62 78.68 - 97.92
Q2 2009 0.28 2.06 52.48 - 98.74
Q3 2009 1.34 12.20 10.83 - 120.85
Q4 2009 2.36 75.24 265.12 - 134.28
Q1 2010 5.35 30.44 12.81 0.17 33.59
Q2 2010 13.64 108.23 28.30 0.33 23.77
Q3 2010 12.97 93.34 60.71 0.60 23.42
Q4 2010 21.67 100.90 67.58 1.17 23.24
Q1 2011 48.00 105.04 50.02 3.38 55.28
Q2 2011 66.60 140.07 42.92 3.42 54.23
Q3 2011 75.31 143.91 53.83 3.05 56.16
Q4 2011 110.96 416.19 120.17 5.41 (165.67)
Q1 2012 85.88 162.19 81.98 6.30 56.74
Q2 2012 99.58 254.50 65.85 8.44 55.78
Q3 2012 109.11 205.78 77.24 8.21 58.77
Q4 2012 159.16 355.93 130.58 15.34 (171.28)
Q1 2013 145.56 267.62 103.74 4.79 -
Q2 2013 159.00 269.96 112.21 17.96 -
Q3 2013 163.71 265.82 102.78 10.15 -

Current
Market Cap (M) 70,125.00
Shares Outstanding ((M)) 2,500.00
EPS ( Riyal) (TTM) 2.25
EPS Diluted ( Riyal) (TTM) 2.13
Book Value (BV) ( Riyal) 12.96
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.47
P/E (TTM) 12.47
Price/book 2.16
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 18.5

Share Price

28.00
0.35 1.27 %

Alinma Bank (ALINMA)


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