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Bank Albilad announces the interim financial results for the period ending on 30-06-2018 (Six Months)

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Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 275.9 237.6 16.12 256.1 7.73
Total profit (loss) operation income Investments 842.7 721.5 16.8 791 6.54
Net profit (loss) special commission income Investments 517.2 431.5 19.86 485.3 6.57
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 532 464.3 14.58
Total profit (loss) operation income Investments 1,633.7 1,412.3 15.68
Net profit (loss) special commission income Investments 1,002.5 823.2 21.78
Earning or loss per share, Riyals 0.89 0.77 -
Total Assets 68,407 59,732 14.52
Investments 5,408 4,492 20.39
Loans and advances portfolio 47,340 40,665 16.41
Customer deposit 52,179 44,971 16.03
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net income has increased due to the increase in total operating income by 16.8%, which has resulted due to the increase in the net income from investment and financing activities, dividend income, exchange income, fee and commission net income, other operating income and gains from investments.
Total operating expenses have increased by 17% due to the increase in the impairment charge for credit and other financial assets, other general and administrative expenses and staff expenses . However, rent and premises related expenses and depreciation have decreased.
Reasons of increase (decrease) for period compared with same period last year Net income has increased due to the increase in total operating income by 15.7%, which has resulted due to the increase in net income from investment and financing activities, dividend income, other income, fee and commission net income, gains on non-trading investments, and net exchange income. Total operating expenses have increased by 16.2% due to the increase in the impairment charge for credit and other financial assets, staff expenses, other general and administrative expenses and rent and premises related expenses. However, depreciation has decreased.
Reason of increase (decrease) for quarter compared with the previous quarter Net income has increased due to the increase in total operating income by 6.5%, which has resulted due to the increase in the income from investment and financing activities net, fee and commission, dividend incom, exchange income and other operating income . However, gains from investments have decreased.
Total operating expenses have decreased by 6% due to increase in Impairment charge for credit and other financial assets, net and depreciation. However, rent and premises related expenses, other general and administrative expenses, staff expenses and have decreased.
Reclassifications in quarterly financial results Some items have been re-classified
Other notes Gross Income from investing and financing activities for the three-months period ended in 30 June 2018 is SAR 648 million as compared to SAR 518 million in corresponding quarter of last year, with an increase of 25%. and compared with SAR 597 million for the last quarter with an increase of 8.7%.
Gross Income from investing and financing activities for the six-months period ended in 30 June 2018 is SAR 1245 million as compared to SAR 1000 million in corresponding perid of last year, with an increase of 24.5%.

Total comprehensive income for the three months period ended in 30 June 2018 is SAR 241 million as compared to SAR 247 million in corresponding period of last year, with a decrease of 3% and compared with SAR 220 million for first quarter ended in 31 March 2018, with an increase of 9%.
Total comprehensive income for the six months period ended in 30 June 2018 is SAR 461 million as compared to SAR 468 million in corresponding period of last year, with a decrease of 2%

Total shareholders' equity as at 30 June 2018 is SAR 7.7 billion compared to SAR 7.3 billion for same period of last year (Excluding minority rights), with an increase of 6%.

The External Auditors have reviewed the financial statements and plan to issue an unmodified report.

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