According to the company's statement on the Saudi Stock Exchange (Tadawul) website, net profit attributable to shareholders before zakat for the current year amounted to SAR 28,431 million, compared to SAR 53,985 million for the previous year. This is due to the following main reasons:
- The net results of insurance services during the current year amounted to 17,037 million riyals, compared to 45,719 million riyals for the previous year, a decrease of 63%.
- The net investment results for the current year amounted to 24,949 million riyals, compared to 30,528 million riyals for the previous year, a decrease of 18%.
This is partially offset by some positive changes:
Other operating expenses decreased by SAR 9,501 million during the current year compared to the previous year, a decrease of 52%.
Other revenues this year amounted to 4,073 million riyals, compared to 3,392 million riyals for the previous year, an increase of 20%.
- The total comprehensive income for the current year amounted to 33,385 million riyals, compared to 68,230 million riyals for the previous year.
- The total premiums underwritten this year amounted to 1,253,425 billion riyals, compared to 1,125,115 billion riyals for the previous year, an increase of 11%.
