Bank Albilad announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 1,139.3 | 910.7 | 25.1 | 1,040.7 | 9.47 |
| Net Income from Special Commissions/Financing & Investments | 956.7 | 842.5 | 13.55 | 944.5 | 1.29 |
| Total Operation Profit (Loss) | 1,252.8 | 1,131 | 10.77 | 1,264.5 | -0.93 |
| Net Profit (Loss) before Zakat and Income Tax | 569.7 | 463.9 | 22.81 | 546.6 | 4.23 |
| Net Profit (Loss) | 511 | 416.1 | 22.81 | 490.3 | 4.22 |
| Total Comprehensive Income | 279.1 | 576.3 | -51.57 | 342.9 | -18.61 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total income from Special Commissions/Financing & Investments | 2,180.1 | 1,822.4 | 19.63 |
| Net Income from Special Commissions/Financing & Investments | 1,901.1 | 1,701.3 | 11.74 |
| Total Operation Profit (Loss) | 2,517.3 | 2,264 | 11.19 |
| Net Profit (Loss) before Zakat and Income Tax | 1,116.3 | 901.7 | 23.8 |
| Net Profit (Loss) | 1,001.3 | 808.8 | 23.8 |
| Total Comprehensive Income | 622 | 671.3 | -7.34 |
| Total Share Holders Equity (after Deducting Minority Equity) | 12,606.9 | 11,416.6 | 10.43 |
| Assets | 121,510.7 | 107,652.1 | 12.87 |
| Investments | 18,275 | 16,788.4 | 8.85 |
| Loans and Advances Portfolio (Financing & Investment) | 91,205.9 | 79,130 | 15.26 |
| Clients' deposits | 89,108 | 81,638.1 | 9.15 |
| Profit (Loss) per Share | 1.01 | 0.81 | |
| 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 11%, due to the increase in net income from investing and financing assets, dividend income, net exchange income and other operating income. However, net fee and commission income and net gains on FVSI investment has decreased.
Total operating expenses have increased by 2%, due to the increase in other general and administrative expenses, salaries and employee related benefits and depreciation & amortization . However, net impairment charge for expected credit losses has decreased. |
| 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 is mainly due to decrease in net gains on FVSI investment, net fee and commission income and other operating income. However, dividend income, net income from investing and financing assets and net exchange income have increased.
Total operating expenses have decreased by 5% due to decrease in net impairment charge for expected credit losses and other general and administrative expenses. However, salaries and employee related benefits and depreciation & amortization have increased. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net income has increased due to the increase in total operating income by 11%, which is mainly due to the increase in net income from investing and financing activities, net gains on FVSI investment, dividend income, net exchange income and other operating income. However, net fee and commission income has decreased.
Total operating expenses have increased by 3%, due to the increase in other general and administrative expenses, salaries and employee related benefits and depreciation & amortization. However, net impairment charge for expected credit losses has decreased. |
| Statement of the type of external auditor's report | Unmodified Conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | None |
| Additional Information | Net impairment charge for expected credit losses for the three months period ended 30 June 2022 is SAR 120 million, as compared to SAR 136 million in corresponding period of last year with a decrease by 12%.
Net impairment charge for expected credit losses for the three months period ended 30 June 2022 is SAR 120 million, as compared to SAR 159 million in the previous quarter ended 31 March 2022 with a decrease by 25%.
Net impairment charge for expected credit losses for the six months period ended 30 June 2022 is SAR 280 million, as compared to SAR 306 million in the corresponding period of last year with a decrease by 8%.
Earnings per share is calculated by dividing the net income after zakat for the period ended 30 June 2022 and 30 June 2021 by the weighted average outstanding number of shares adjusted for treasury shares, which is 996 million shares, to give a retroactive effect of change in the number of shares increased as a result of the bonus shares issued. |
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