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.
| 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.
| 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
| 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 % |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}