| The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is | Increase in special commission income by 21.9% due to an increase in financing and investments portfolios coupled with an increase in benchmark rate. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Increase in net profit attributable to equity holders' of the bank by 0.4% due to higher operating revenue by 2.4% along with an increase in other non-operating income/expenses, net. This was partially offset by higher operating expenses including net impairment charge for 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 | Net impairment charge for expected credit losses increased by 32.8%. |
| The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is | Despite the increase in domestic SCI, the international subsidiary’s SCI dropped significantly by 20.6% compared to the previous quarter resulted in a decrease in the group overall SCI by 0.9%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is | Increase in net profit attributable to equity holders' of the bank by 1.5% due to higher operating revenue by 3.7% along with an increase in other non-operating income/expenses, net. |
| 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 51.9%. |
| 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) | NA |
| Reclassification of Comparison Items | Some numbers have been re-classified for comparative reasons. |
| Additional Information | EPS for the current and previous periods is calculated by dividing the net income attributable to common equity holders of the bank (adjusted for Tier 1 Sukuk costs) for the periods by the weighted average number of shares outstanding 5,944,542K (2023: 5,950,573K).
Total assets expanded by 3.4% during the period compared to December 2023. The main drivers were 3.9% growth in financing, resulted from 2.5% growth in Retail, principally from 4.4% mortgages growth and 5.6% growth in wholesale financing. This was coupled with 2.4% growth in investments.
Customers’ deposits rose by 11.2% during the period compared to December 2023. |
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