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SAFWA ISLAMIC BANK Financial

Trading Information in the Regular Market

2021 2020 2019
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 1.91 1.40 1.36
Value Traded (JD) 8,676,938 6,101,404 4,748,817
No. of Shares Traded 5,106,971 4,539,183 3,682,030
No. of Transactions 3,529 1,569 2,408
No. of Subscribed Shares 100,000,000 100,000,000 100,000,000
Market Capitalization (JD) 191,000,000 140,000,000 136,000,000
Fiscal Year Ended 31/12/2021 31/12/2020 31/12/2019

Assets (JD)

2021 2020 2019
Cash and Balances at Central Bank 358,653,364 351,694,499 278,816,552
Balances with Banks and Financial Institutions 8,293,931 9,669,834 6,513,543
International wakala investments 86,124,648 78,717,349 70,790,378
Investments Accounts at Banks and Banking Institutions 0 0 0
Deferred sales receivables and other receivables - net 1,063,215,294 753,903,198 641,388,269
Deferred sales receivables through the income statement 0 0 0
Ijara assets - Net 533,805,256 422,067,496 382,860,291
Finance Investments (Finances-Net) 0 0 0
Financial assets at fair value through OCI 0 0 0
Financial assets at fair value through the joint investments accounts holders equity 164,363,677 58,488,983 32,856,966
Financial assets at amortized cost - net 64,752,000 92,191,000 92,191,000
Financial assets at fair value through profit or loss 1,565,294 1,513,175 3,536,138
Qard Hassan loans - net 1,619,321 1,721,260 509,660
Investments in Affiliates 343,708 349,507 354,022
Real Estate investments 0 0 0
Local wakala investments 0 0 0
Fixed assets - net 22,333,251 22,889,345 23,886,014
Intangible assets 1,919,527 2,024,886 2,043,279
Deferred Tax Assets - self and joint 6,734,092 5,313,875 1,661,190
Other Assets 22,411,956 19,694,796 19,513,281
Total Assets 2,336,135,319 1,820,239,203 1,556,920,583

Liabilities (JD)

2021 2020 2019
Banks and financial institutions deposits 16,530,718 25,085,579 1,522,392
Customers current accounts 290,066,768 228,380,089 181,361,486
Cash Margins 56,124,802 26,856,968 35,875,353
Accounts Payable 0 0 0
Other provisions 440,000 954,597 421,785
Income tax provision 8,332,402 8,298,808 6,936,284
Deferred tax liabilities 0 0 0
Other liabilities 60,553,879 49,320,667 50,501,366
Total liabilities 432,048,569 338,896,708 276,618,666
Unrestricted Investment Accounts Holders Equity
Unrestricted investment accounts 1,741,326,610 1,326,573,194 1,135,016,343
Investment Accounts Holders Reserve-Subsidiaries & Affiliates 0 0 0
Fair Value reserve-Net 82,413 151,894 48,157
Deferred tax liabilities 0 0 0
Provision for contingent liabilities 0 0 0
Total Unrestricted Investment Accounts Holders` Equity 1,741,409,023 1,326,725,088 1,135,064,500
Investment Risks Fund 0 0 0
Provision for Income Tax on Investment Risks Fund 0 0 787,149

Shareholders Equity (JD)

2021 2020 2019
(Paid-up) Capital 100,000,000 100,000,000 100,000,000
Statutory reserve 29,766,889 27,485,171 25,902,069
Voluntary reserve 0 0 0
General banking risks reserve 0 0 0
Other Reserves 0 0 0
Issuance Premium 0 0 0
Issuance Discount 0 0 0
Treasury 0 0 0
Foreign Currencies Translation 0 0 0
Fair Value reserve - net 0 0 0
Cash Dividends 6,000,000 6,000,000 0
Stock Dividends 0 0 0
Retained Earning (losses) 26,910,838 21,132,236 18,548,199
Total shareholders equity 162,677,727 154,617,407 144,450,268
Non-controlling Interest 0 0 0
Total liabilities,unrestricted investment accounts holders equity,Non-controlling Interest and shareholders equity 2,336,135,319 1,820,239,203 1,556,920,583

Income Statement (JD)

2021 2020 2019
Joint deferred sales revenues 58,754,853 47,806,599 40,992,345
Financing revenues 0 0 0
Profits of financial assets at fair value through the joint investment accounts holders equity 1,933,740 1,810,043 1,475,258
Profit from financial assets at fair value through unrestricted investment accounts 118,407 122,759 123,343
Financial assets at amortized cost revenues 3,539,642 4,137,690 4,126,385
Share of funds involved in investment from the profits distributed by Affiliates and subsidiaries 451 5,485 -12,596
Real Estate Revenues 0 0 0
Ijarra Assets Revenues 33,606,273 31,653,197 30,417,721
Local Wakala investments profits 0 0 0
International Wakala investments profits 269,264 865,064 1,960,584
Revenues of other Investments 85,909 32,201 758,409
Foreign currency profit (loss) -48,324 62,892 6,267
Net Business Results of Subsidiaries 0 0 0
Share of funds involved in investment from the profits of affiliates 0 0 0
Other (revenues) expenses 0 0 0
Total joint unrestricted investment accounts revenues 98,260,215 86,495,930 79,847,716
Unrestricted investment accounts holders` share -57,087,265 -49,786,021 -42,341,479
Unrestricted investment accounts holders` share of the net business results of subsidiaries 0 0 0
Non-Controlling interests share of the net business results of subsidiaries 0 0 0
Share of funds involved in investment from the profits of affiliates 0 0 0
Investment risks fund share 0 0 -2,416,902
Profit Reserves Payback() 0 0 0
Bank`s share of unrestricted investment accounts revenues as Mudareb and Rab Mal 41,172,950 36,709,909 35,089,335
Bank`s self-owned revenues 686,602 671,095 1,104,804
Bank`s share in restricted investment accounts revenues as Mudareb 0 0 0
Bank`s share in restricted investment accounts revenues as Wakeel 150,018 129,099 283,056
Foreign currency revenues 1,491,988 922,916 1,075,782
Banking services revenues 6,722,733 4,946,663 5,402,964
Other revenues -1,025,529 -981,468 -77,570
Total income 49,198,762 42,398,214 42,878,371
Employees expenses 14,402,503 13,123,431 13,151,976
Depreciation and amortization 3,240,190 3,182,555 4,359,605
Other expenses 8,274,958 9,726,609 7,129,929
Ijara assets depreciation 387,164 395,003 798,847
Real estate investments depreciation 0 0 0
Impairment in deferred sales receivables 0 0 0
Other Provisions 21,767 84,596 181,138
Total expenses 26,326,582 26,512,194 25,621,495
Profit for The Year Before Tax 22,872,180 15,886,020 17,256,876
Income tax 8,756,860 5,663,881 7,185,657
Income tax (Previous Years) 0 0 0
Universities and Research Train Fees 0 0 0
Board of Directors Remuniration 55,000 55,000 55,000
Net income 14,060,320 10,167,139 10,016,219
Non-controlling Interest 0 0 0
Pertains to Shareholders 14,060,320 10,167,139 10,016,219

Cash Flow (JD)

2021 2020 2019
Cash Balance (Beginning) 336,278,754 283,807,703 131,595,998
Net Cash Flow from (Used in) Operating Activities -304,600,016 -103,998,602 -162,899,308
Net Cash Flow from (Used in) Investing Activities -88,459,992 -33,513,852 -24,475,816
Net Cash Flow from (Used in) Financing Activities 407,197,831 189,983,505 339,586,829
Differences in Exchange 0 0 0
Cash Balance (Ending) 350,416,577 336,278,754 283,807,703

Financial Ratios

2021 2020 2019
Turnover Ratio % 5.110 4.540 3.680
Earning Per Share (JD) 0.140 0.100 0.100
Dividend Per Share (JD) 0.060 0.060 0.000
Book Value Per Share (JD) 1.630 1.550 1.440
Price Earnings Ratio (Times) 13.580 13.770 13.580
Dividend Yield % 3.140 4.290 0.000
Dividend Per Share to Earning Per Share % 42.670 59.010 0.000
Price to Book Value (Times) 1.170 0.910 0.940
Return On Assets % 0.600 0.560 0.640
Return On Equity % 8.640 6.580 6.930
Joint deferred sales and Banking services / Total Income % 99.050 100.140 97.670
Joint deferred sales / Deferred sales receivables, Net and Finances-Net % 6.200 7.410 7.930
Net Income / Total Income % 28.580 23.980 23.360
Total Income / Total Assets % 2.110 2.330 2.750
Equity Ratio % 6.960 8.490 9.280
Shareholders Equity / Total Deposits % 7.940 9.790 10.960
Debt Ratio % 93.040 91.510 90.720
Total Deposits / Total Assets % 87.660 86.800 84.650
Deferred sales receivables, Net and Finances-Net % to Total Assets % 68.430 64.700 65.820
Deferred sales receivables, Net and Finances-Net % to Total Deposits % 78.060 74.540 77.760
Shareholders Equity to Deferred sales receivables, Net and Finances-Net % 10.180 13.130 14.100
Quick Ratio (Times) 0.180 0.230 0.220
Cash & Investments to Total Deposits % 29.200 32.520 31.430
Cash + Financial assets at fair value through income statement / Total Deposits (Times) 0.180 0.230 0.220