Tawasul
Mubasher TV
Contact Us Advertising   العربية

Bank Albilad reports 17% profit hike in Q3

Bank Albilad reports 17% profit hike in Q3
The lender’s earnings hit SAR 382.6 million in Q3-20.
ALBILAD
1140
0.56% 27.15 0.15

Riyadh – Mubasher: Bank Albilad posted a 17.1% annual increase in profits over the third quarter (Q3) of 2020, thanks to higher total operating income by 9%.

The lender’s earnings hit SAR 382.6 million in Q3-20, compared with SAR 326.6 million in the year-ago period, according to a bourse statement on Thursday.

Meanwhile, gains/losses from investments, fees and commission income, and dividend income decreased, whereas total operating expenses rose by 4%.

Total revenue was up by 2.6% year-on-year (YoY) during Q3 to SAR 911.2 million.

During the period from January to September, the profits grew by 5.9% YoY to SAR 970.7 million.