Bank Albilad 9M 2022 profit up 23% to SAR 1.541 bln, Q3 at SAR 540.6 mln

Bank Albilad reported a net profit of SAR 1.541 billion for the first nine months of 2022, an increase of 23% compared to SAR 1.258 billion in the year-earlier period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Net Income from investments and financial activities	2,588.00	2,904.50	12.2 %
Operating Income	3,437.14	3,842.76	11.8 %
Total Provisions	(448.34)	(412.02)	8.1 %
Net Income	1,258.55	1,541.94	22.5 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	1.01	1.23	22.5 %

The bank attributed the profit rise to a 12% year-on-year (YoY) rise in total operating income, due to higher net income from investing and financing activities, other operating income, net exchange income, net gains on FVSI investment and dividend income.

Q3 2022 net profit amounted to SAR 540.6 million, up 20% YoY from SAR 449.70 million, due to a 13% increase YoY in total operating income, mainly driven by the increase in net income from investing and financing assets, other operating income, net exchange income and net gains on FVSI investment.

On a sequential basis, Q3 net profit grew 5.8% from SAR 510.98 million in Q2 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Net Income from investments and financial activities	886.75	1,003.38	13.2 %
Operating Income	1,174.47	1,325.49	12.9 %
Debt Provisions	(142.50)	(132.06)	7.3 %
Net Income	449.70	540.65	20.2 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	0.36	0.43	20.2 %

Item	Q2 2022	Q3 2022	Change‬
Net Income from investments and financial activities	956.66	1,003.38	4.9 %
Operating Income	1,252.76	1,325.49	5.8 %
Debt Provisions	(120.43)	(132.06)	(9.7 %)
Net Income	510.98	540.65	5.8 %
Average Shares	1,250.00	1,250.00	-
EPS (Riyals)	0.41	0.43	5.8 %
EPS Diluted (Riyal)	0.41	0.43	4.9 %

Shareholders’ equity, no minority interest, reached SAR 13.034 billion as of Sept. 30, 2022, compared to SAR 11.867 billion in the year-earlier period

Balance Sheet (B)

Item	9m 2021	9m 2022	Change‬
Assets	111.61	127.02	13.8 %
Customer Deposits	82.35	93.89	14.0 %
Financing Investments	81.80	92.29	12.8 %

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Share Price

Bank Albilad (ALBILAD)

	Current
Market Cap (M)	46,000.00
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)	17.53
P/E (TTM)	17.53
Price/book	2.85
Return on Average Assets (%) (TTM)	1.8
Return on Average Equity (%) (TTM)	17.1

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Bank Albilad 9M 2022 profit up 23% to SAR 1.541 bln, Q3 at SAR 540.6 mln

Financials (M)

Current Quarter Comparison (M)

Balance Sheet (B)

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Share Price

Bank Albilad (ALBILAD)

Financial Ratios

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