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Please explain the major trends of the financial statement.

Please explain the major trends of the financial statement.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please explain the major trends of the financial statement.

CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 202| 2020 SR '000 2019 SR '000 Notes Special commission income 20 3,180,041 3,227,547 Special commission expense 20 (789,705) (1,175,383) Net special commission income 2,390,336 2,052,164 Fees and commission income 21 1,025,207 932,633 Fees and commission expense 21 (417,699) (327,403) Fees and commission income, net 607,508 605,230 Exchange income, net 240,164 229,910 Net gain on FVIS financial instruments 22 9,816 5,792 Dividend income 80 343 Net gains on derecognition of financial assets measured at FVOCI- debt 4,703 1,886 Net gains on derecognition of financial assets measured at amortised cost 2,102 69,654 Other operating income, net 23 32,410 12,180 Total operating income 3,287,119 2,977,159 Salaries and employee-related expenses 36 982,608 968,529 Rent and premises-related expenses 52,944 52,431 Depreciation and amortisation 214,446 201,026 Other general and administrative expenses 429,891 443,908 Other operating expenses, net 16,571 45,170 Total operating expenses before impairment charge 1,696,460 1,711,064 Impairment charge for expected credit losses ("ECL"), net 1,575,743 156,953 Total operating expenses 3,272,203 1,868,017 Net operating income 14,916 1,109,142 Share in net income of an associate 16,279 12,888 Net income for the year before Zakat and income tax 31,195 1,122,030 Zakat and income tax: Zakat 25 (286) (130,950) Income tax reversal /(charge) 25 2,845 (57) Net income for the year 33,754 991,023 Basic and diluted earnings per share (expressed in SR per share) 24 0.04 1.21
Transcribed Image Text:CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 202| 2020 SR '000 2019 SR '000 Notes Special commission income 20 3,180,041 3,227,547 Special commission expense 20 (789,705) (1,175,383) Net special commission income 2,390,336 2,052,164 Fees and commission income 21 1,025,207 932,633 Fees and commission expense 21 (417,699) (327,403) Fees and commission income, net 607,508 605,230 Exchange income, net 240,164 229,910 Net gain on FVIS financial instruments 22 9,816 5,792 Dividend income 80 343 Net gains on derecognition of financial assets measured at FVOCI- debt 4,703 1,886 Net gains on derecognition of financial assets measured at amortised cost 2,102 69,654 Other operating income, net 23 32,410 12,180 Total operating income 3,287,119 2,977,159 Salaries and employee-related expenses 36 982,608 968,529 Rent and premises-related expenses 52,944 52,431 Depreciation and amortisation 214,446 201,026 Other general and administrative expenses 429,891 443,908 Other operating expenses, net 16,571 45,170 Total operating expenses before impairment charge 1,696,460 1,711,064 Impairment charge for expected credit losses ("ECL"), net 1,575,743 156,953 Total operating expenses 3,272,203 1,868,017 Net operating income 14,916 1,109,142 Share in net income of an associate 16,279 12,888 Net income for the year before Zakat and income tax 31,195 1,122,030 Zakat and income tax: Zakat 25 (286) (130,950) Income tax reversal /(charge) 25 2,845 (57) Net income for the year 33,754 991,023 Basic and diluted earnings per share (expressed in SR per share) 24 0.04 1.21
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