Investor Presentaiton
Net income growth was driven by higher operating income
and lower impairments
Net income bridge - SAR bn
42.25
3.57
(1.02)
5.04
(0.14)
(0.90)
48.79
2020
Operating
income
Operating
expenses
Impairments Other Income / Taxes
Expenses
2021
Source: Financial statements, Investor presentations, A&M analysis
4
KEY TAKEAWAYS
Aggregate net income increased by
15.5% YoY to SAR 48.8bn
• Higher operating income (+3.5% YoY)
along with lower impairments (-28.9%
YoY) drove the growth in net income
• The growth in operating income was
driven by:
Higher net interest income (+4.0%
YoY) and net fee & commission
income (+9.9% YoY)
■ However, it was partially offset by
8.3% fall in income from losses due
to foreign exchange translation and
other expenses
ALVAREZ & MARSALView entire presentation