Bank Albilad 2020 net profit up 8% to SAR 1.348 bln

07/02/2021 Argaam Exclusive

Bank Albilad reported a net profit of SAR 1.348 billion for 2020, up 8%, compared to SAR 1.243 billion in the previous year.



Financials (M)

Item 2019 2020 Change‬
Net Income from investments and financial activities 2,823.76 3,292.63 16.6 %
Operating Income 3,945.35 4,262.05 8.0 %
Total Provisions (543.09) (694.51) (27.9 %)
Net Income 1,243.74 1,348.52 8.4 %
Average Shares 1,250.00 1,250.00 -
EPS (Riyals) 0.99 1.08 8.4 %

The profit rise was driven by an 8% increase in operating income, due to higher net income from investment, financing activities and net exchange income.

 

However, loss/gain from investments, fee and commission income, other operating income, and dividend income decreased.

 

Total operating expenses increased by 8%, due to higher net impairment charge for expected credit losses, other general and administrative expenses, salaries and employee-related benefits, and depreciation & amortization.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Net Income from investments and financial activities 771.12 846.81 9.8 %
Operating Income 1,041.04 1,139.90 9.5 %
Debt Provisions (139.70) (180.25) (29.0 %)
Net Income 327.15 377.81 15.5 %
Average Shares 1,250.00 1,250.00 -
EPS (Riyals) 0.26 0.30 15.5 %

In Q4 2020, the bank reported a net profit of SAR 377.8 million, an increase of 16% year-on-year (YoY).

Balance Sheet (B)

Item 2019 2020 Change‬
Assets 86.00 95.75 11.3 %
Customer Deposits 67.11 71.55 6.6 %
Financing Investments 59.29 70.11 18.2 %

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Share Price

Bank Albilad
35.95
(0.10) (0.28 %)

Bank Albilad (ALBILAD)

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Financial Ratios
Current
Market Cap (M) 44,937.50
Shares Outstanding ((M)) 1,250.00
EPS ( Riyal) (TTM) 2.10
EPS Diluted ( Riyal) (TTM) 2.11
Book Value (BV) ( Riyal) 12.91
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.13
P/E (TTM) 17.13
Price/book 2.79
Return on Average Assets (%) (TTM) 1.8
Return on Average Equity (%) (TTM) 17.1
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