| 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 income from investing and financing assets increased by 1%, which is mainly due to increase in the income from investing and financing assets by 21%, however, the return on deposits and financial liabilities increased by 54%. |
| 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 due to the increase in total operating income, which is mainly due to the increase in dividend income, other operating income, net fee and commission income and net income from investing and financing assets. However, net gain on FVSI instruments and net exchange income have decreased.
Total operating expenses before net impairment charge have decreased by 2%, which is mainly due to the decrease in other general and administrative expenses and depreciation & amortization. However, salaries and employee related benefits have increased. Further, net impairment charge for expected credit losses decreased by 60%. |
| 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 expected credit losses decreased by 60%, which is mainly due to decrease in net impairment charge for expected credit losses on financing due to better quality and composition of the portfolio. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | Net income from investing and financing assets increased by 4%, which is mainly due to increase in the income from investing and financing assets by 1% and decrease in return on deposits and financial liabilities by 1%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Net income has increased due to the increase in total operating income, which is mainly due to the increase in net income from investing and financing assets, dividend and other operating income. However, net exchange income, net gain on FVSI instruments and net fee and commission income has decreased.
Total operating expenses before net impairment charge have decreased by 7%, due to the decrease in other general and administrative expenses, depreciation & amortization and salaries and employee related benefits. |
| 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 expected credit losses increased by 10%, which is mainly due to increase in net impairment charge for expected credit losses on 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 | None |
| Additional Information | Earnings per share is calculated by dividing the net income after zakat for the three months period ended 31 March 2024 and 31 March 2023 by the weighted average outstanding number of shares adjusted for treasury shares, which is 993 million shares. |
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