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Bank Albilad’s profits exceed SAR 2bn in 2022

Bank Albilad’s profits exceed SAR 2bn in 2022
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Riyadh – Mubasher: The net profits of Bank Albilad amounted to SAR 2.08 billion in 2022, higher by 23.43% year-on-year (YoY) than SAR 1.68 billion.

Earnings per share (EPS) increased to SAR 2.09 last year from SAR 1.69 in 2021, according to the annual financial results.

Furthermore, the clients’ deposits hit SAR 94.84 billion during the January-December 2022 period, an annual hike of 16.93% from SAR 81.11 billion.

The Saudi lender reported assets of SAR 129.54 billion in 2022, up 16.86% YoY from SAR 110.85 billion.

Meanwhile, the bank's investments enlarged by 20.52% YoY to SAR 20.60 billion in the 12-month period that ended on 31 December 2022, versus SAR 17.09 billion.

In the first nine months (9M) of 2022, Bank Albilad logged net profits worth SAR 1.54 billion, a growth of 22.52% from SAR 1.25 billion in the year-ago period.

Last month, the bank’s board suggested the distribution of SAR 500 million as cash dividends after Zakat for 2022.