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financial statements
consolidated
statement of changes
in shareholders’ equity
| For the year ended 31 December 2023 | 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 2022 | 40,000,000 | 29,287,706 | (427,569) | 9,864,898 | 5,000,000 | 83,725,035 | 16,500,000 | 100,225,035 | |
| Net income for the year | – | – | 16,621,159 | – | 16,621,159 | – | 16,621,159 | ||
| Net change in fair value of FVOCI Equity investments | 17 | – | – | (9,369) | – | – | (9,369) | – | (9,369) |
| Net change in fair value of FVOCI Sukuk investments and Structured products investments | 17 | – | – | 307,054 | – | – | 307,054 | – | 307,054 |
| Share in FVOCI from associate | 17 | – | – | 18,333 | – | – | 18,333 | – | 18,333 |
| Actuarial gain on re–measurement of employees’ “EOSB” | – | – | 2,821 | – | – | 2,821 | – | 2,821 | |
| Exchange difference on translation of foreign operations | 17 | – | – | (42,712) | – | – | (42,712) | – | (42,712) |
| Cash flow hedge effective portion of change in the fair value | – | – | 57,788 | – | – | 57,788 | – | 57,788 | |
| Net other comprehensive income (loss) recognised in shareholders’ equity |
– | – | 333,915 | – | – | 333,915 | – | 333,915 | |
| Total comprehensive income for the year | – | – | 333,915 | 16,621,159 | – | 16,955,074 | – | 16,955,074 | |
| Disposal of FVOCI equity instruments | – | – | (2,952) | 2,952 | – | – | – | – | |
| Tier I Sukuk costs | – | – | – | (820,678) | – | (820,678) | – | (820,678) | |
| Transfer to statutory reserve | 17 | – | 4,155,290 | – | (4,155,290) | – | – | – | – |
| Dividend for annual year 2022 | 25 | – | – | – | – | (5,000,000) | (5,000,000) | – | (5,000,000) |
| Interim dividend for the first half of 2023 | 25 | – | – | – | (4,600,000) | – | (4,600,000) | – | (4,600,000) |
| Balance at 31 December 2023 | 40,000,000 | 33,442,996 | (96,606) | 16,913,041 | – | 90,259,431 | 16,500,000 | 106,759,431 |
| 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 | – | – | (669,175) | – | – | (669,175) | – | (669,175) |
| Net change in fair value of FVOCI Sukuk investments and Structured products investments | 17 | – | – | 5,449 | – | – | 5,449 | – | 5,449 |
| Share in FVOCI from associates | 17 | – | – | 1,316 | – | – | 1,316 | – | 1,316 |
| Actuarial gain on re–measurement of employees’ “EOSB” | – | – | 231,824 | – | – | 231,824 | – | 231,824 | |
| Exchange difference on translation of foreign operations | 17 | – | – | (38,229) | – | – | (38,229) | – | (38,229) |
| Cash flow hedge Effective portion of change in the fair value | – | – | (41,975) | – | – | (41,975) | – | (41,975) | |
| Net other comprehensive income 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 | 17 | – | 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 |
The accompanying Notes from 1 to 44 form an integral part of these consolidated financial statements.
Chairman
Chief Executive Officer
Chief Financial Officer