Bank Albilad announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total Revenue from Special Commissions/Financing & Investments | 911.2 | 888 | 2.612 | 917 | -0.632 |
| Net Income from Special Commissions/Financing & Investments | 855.5 | 728.6 | 17.416 | 830.2 | 3.047 |
| Total Operation Profit (Loss) | 1,113.5 | 1,023.7 | 8.772 | 999.5 | 11.405 |
| Net Profit (Loss) before Zakat and Income Tax | 426.1 | 364.9 | 16.771 | 354.2 | 20.299 |
| Net Profit (Loss) | 382.6 | 326.6 | 17.146 | 318.1 | 20.276 |
| Total Comprehensive Income | 455.6 | 539.2 | -15.504 | 684.7 | -33.459 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Revenue from Special Commissions/Financing & Investments | 2,726.9 | 2,536.9 | 7.489 |
| Net Income from Special Commissions/Financing & Investments | 2,445.8 | 2,052.6 | 19.156 |
| Total Operation Profit (Loss) | 3,117.1 | 2,904.3 | 7.327 |
| Net Profit (Loss) before Zakat and Income Tax | 1,081 | 1,020.4 | 5.938 |
| Net Profit (Loss) | 970.7 | 916.6 | 5.902 |
| Total Comprehensive Income | 1,251 | 1,532.9 | -18.389 |
| Total Share Holders Equity (after Deducting Minority Equity) | 10,310.9 | 9,072.2 | 13.653 |
| Assets | 92,293.6 | 81,163.6 | 13.713 |
| Investments | 14,026.4 | 9,991.8 | 40.379 |
| Loans and Advances Portfolio (Financing & Investment) | 67,762.3 | 56,396.9 | 20.152 |
| Customer Deposits | 68,883.2 | 64,057.7 | 7.533 |
| Profit (Loss) per Share | 1.3 | 1.23 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to Same Quarter Last Year is Attributed to | Net income has increased due to the increase in total operating income by 9%, due to the increase in net income from investment and financing activities, net exchange income and other operating income. However, gains / (loss) from investments , fee and commission income and dividend income have decreased.
Total operating expenses has increased by 4%, due to the increase in depreciation & amortization, net impairment charge for expected credit losses, salaries and employee related benefits and other general and administrative expenses. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | Net income has increased due to the increase in total operating income by 11%, due to the increase in fee and commission income, gains / (loss) from investments, net income from investment and financing activities and other operating income. However, net exchange income and dividend income have decreased.
Total operating expenses has increased by 7%, due to the increase in other general and administrative expenses, net impairment charge for expected credit losses and depreciation & amortization. However, salaries and employee related benefits has decreased. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Same Period Last Year is Attributed to | Net income has increased due to the increase in total operating income by 7%, due to the increase in net income from investment and financing activities and net exchange income. However, gains / (loss) from investments, fee and commission income, other operating income and dividend income have decreased.
Total operating expenses has increased by 8%, due to the increase in net impairment charge for expected credit losses, salaries and employee related benefits and depreciation & amortization. However, other general and administrative expenses has decreased. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Some items have been re-classified. |
| Additional Information | Impairment charge for credit losses and other financial assets, net for the three months period ended 30 September 2020 is SAR 160 million, as compared to SAR 141 million in the corresponding period of last year with an increase by 14%.
Impairment charge for credit losses and other financial assets, net for the three months period ended 30 September 2020 is SAR 160 million, as compared to SAR 150 million in the previous quarter ended 30 June 2020 with an increase by 6%.
Impairment charge for credit losses and other financial assets, net for the nine months period ended 30 September 2020 is SAR 514 million, as compared to SAR 403 million in the corresponding period of last year with an increase by 27%. |
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