| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is |
Net revenue has increased by 4.2% to reach SAR 70.5 million compared to the corresponding quarter of previous year, primarily as a result of originating new Finance contracts which has resulted in to an increase in the Portfolio size. |
| 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 increase in net profit is mainly attributable to higher Murabaha income and a reduction in expected credit losses, driven by the improvement in portfolio quality. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is |
Net revenue has increased by 5.8% to reach SAR 70.5 million compared to the previous quarter, primarily as a result of originating new Finance contracts which has resulted in to an increase in the Portfolio size supported by increase in the portfolio Yield. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is |
The increase in net profit is mainly attributable to higher Murabaha income and a reduction in expected credit losses, driven by the improvement in portfolio quality. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is |
Net revenue has increased by 3.4% to reach SAR 137.2 million compared to the corresponding period of previous year, primarily as a result of originating new Finance contracts which has resulted in to an increase in the Portfolio size. |
| 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 increase in net profit is mainly attributable to higher Murabaha income and a reduction in expected credit losses, driven by the improvement in portfolio quality. |
| 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 |
Enquiry and subscription expense and Marketing expense: The cost of accepted loans and commission on loans which was previously included in other general and administrative expenses have been reclassified to Murabaha income. Discount on settlement: The discount on settlement, previously netted off against Murabaha income has been reclassified to Provision for expected credit losses. |
| Additional Information |
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| Attached Documents |
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