Financial Statements
consolidated statement of changes in
shareholders' equity
| For the year ended 31 December 2022 | Notes | Share
capital (SAR ’000) |
Statutory
reserve (SAR ’000) |
Other
reserves (SAR ’000) |
Retained
earnings (SAR ’000) |
Proposed
gross
dividends (SAR ’000) |
Total equity attributable to shareholders of the Bank (SAR ’000) |
Tier I
Sukuk (SAR ’000) |
Total
equity (SAR ’000) |
| Balance at 31 December 2021 | 25,000,000 | 25,000,000 | 282,107 | 16,999,457 | – | 67,281,564 | – | 67,281,564 | |
| Net income for the year | – | – | – | 17,150,825 | – | 17,150,825 | – | 17,150,825 | |
| Net change in fair value of FVOCI Equity investments | 17 | – | – | (573,838) | – | – | (573,838) | – | (573,838) |
| Net change in fair value of FVOCI Sukuk investments | 17 | – | – | (131,863) | – | – | (131,863) | – | (131,863) |
| Share in FVOCI from associate | 17 | – | – | 1,316 | – | – | 1,316 | – | 1,316 |
| Actuarial gain on employees’ end of service benefits (“EOSB”) | – | – | 231,824 | – | – | 231,824 | – | 231,824 | |
| Exchange difference on translation of foreign operations | 17 | – | – | (38,229) | – | – | (38,229) | – | (38,229) |
| Net other comprehensive income (loss) recognised in shareholders’ equity | – | – | (510,790) | – | – | (510,790) | – | (510,790) | |
| Total comprehensive income for the year | – | – | (510,790) | 17,150,825 | – | 16,640,035 | – | 16,640,035 | |
| Disposal of FVOCI equity instruments | – | – | (198,886) | 198,886 | – | – | – | – | |
| Tier I Sukuk issued | 27 | – | – | – | – | – | – | 16,500,000 | 16,500,000 |
| Tier I Sukuk costs | – | – | – | (196,564) | – | (196,564) | – | (196,564) | |
| Bonus shares Issued | 26 | 15,000,000 | – | – | (15,000,000) | – | – | – | – |
| Transfer to statutory reserve | – | 4,287,706 | – | (4,287,706) | – | – | – | – | |
| Proposed dividends for the year 2022 | 25 | – | – | – | (5,000,000) | 5,000,000 | – | – | – |
Balance at 31 December 2022 |
40,000,000 | 29,287,706 | (427,569) | 9,864,898 | 5,000,000 | 83,725,035 | 16,500,000 | 100,225,035 | |
| For the year ended 31 December 2021 | |||||||||
| Balance at 31 December 2020 | 25,000,000 | 25,000,000 | (162,678) | 8,253,246 | – | 58,090,568 | – | 58,090,568 | |
| Net income for the year | – | – | – | 14,746,211 | – | 14,746,211 | – | 14,746,211 | |
| Net change in fair value of FVOCI investments | – | – | 399,339 | – | – | 399,339 | – | 399,339 | |
| Share in FVOCI from associate | – | – | 24,044 | – | – | 24,044 | – | 24,044 | |
| Actuarial gain on employees’ end of service benefits (“EOSB”) | – | – | 42,055 | – | – | 42,055 | – | 42,055 | |
| Exchange difference on translation of foreign operations | – | – | (20,653) | – | – | (20,653) | – | (20,653) | |
| Net other comprehensive income recognised in shareholders’ equity |
– | – | 444,785 | – | – | 444,785 | – | 444,785 | |
| Total comprehensive income for the year | – | – | 444,785 | 14,746,211 | – | 15,190,996 | – | 15,190,996 | |
| Dividend for annual year 2020 | 25 | – | – | – | (2,500,000) | – | (2,500,000) | – | (2,500,000) |
| Interim Dividend for the first half of 2021 | 25 | – | – | – | (3,500,000) | – | (3,500,000) | – | (3,500,000) |
Balance at 31 December 2021 |
25,000,000 | 25,000,000 | 282,107 | 16,999,457 | – | 67,281,564 | – | 67,281,564 |
The accompanying Notes from 1 to 43 form an integral part of these consolidated financial statements.
Chairman
Chief Executive Officer
Chief Financial Officer