Bank Albilad announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 911.7 | 907.7 | 0.44 | 899.6 | 1.345 |
| Net Income from Special Commissions/Financing & Investments | 858.8 | 769.1 | 11.662 | 846.8 | 1.417 |
| Total Operation Profit (Loss) | 1,133 | 1,004.2 | 12.826 | 1,144.9 | -1.039 |
| Net Profit (Loss) before Zakat and Income Tax | 437.9 | 300.7 | 45.626 | 420.7 | 4.088 |
| Net Profit (Loss) | 392.8 | 270 | 45.481 | 377.8 | 3.97 |
| Total Comprehensive Income | 95.1 | 113.6 | -16.285 | 416.5 | -77.166 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 10,838.1 | 9,555.5 | 13.422 |
| Assets | 102,519.7 | 88,398.9 | 15.973 |
| Investments | 15,881 | 11,940.1 | 33.005 |
| Loans and Advances Portfolio (Financing & Investment) | 75,531.4 | 62,464.6 | 20.918 |
| Clients' deposits | 76,963.1 | 68,377.3 | 12.556 |
| Profit (Loss) per Share | 0.53 | 0.36 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income has increased due to the increase in total operating income by 13%, due to the increase in net income from investment and financing activities, fee and commission income, (loss)/ gain from investments and other operating income. However, net exchange income and dividend income have decreased.
Total operating expenses has decreased by 1%, due to the decrease impairment charge for expected credit losses. However, other general and administrative expenses, depreciation & amortization and salaries and employee related benefits have increased. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | Net income has increased although total operating income has decreased by 1%, which has resulted due to the decrease in the (loss)/ gain from investments, exchange income net, dividend income and other operating income. However, fee and commission income net and net income from investment and financing activities have increased.
Total operating expenses have decreased by 4% due to decrease in other general and administrative expenses and Impairment charge for expected credit losses. However, depreciation & amortization and salaries and employee related benefits have increased. |
| Statement of the type of external auditor's report | 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 | Net impairment charge for expected credit losses, net for the three months period ended 31 March 2021 is SAR 170 million, as compared to SAR 208 million in corresponding period of last year with an decrease by 19%.
Net impairment charge for expected credit losses for the three months period ended 31 March 2021 is SAR 170 million, as compared to SAR 180 million in the previous quarter ended 31 December 2020 with a decrease by 6%. |
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