Bank Albilad announces its Interim Financial Results for the Period Ended on 2023-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 1,697.7 | 1,040.7 | 63.13 | 1,481 | 14.63 |
| Net Income from Special Commissions/Financing & Investments | 1,037.4 | 944.5 | 9.84 | 982.2 | 5.62 |
| Total Operation Profit (Loss) | 1,335.6 | 1,264.5 | 5.62 | 1,348.7 | -0.97 |
| Net Profit (Loss) before Zakat and Income Tax | 624.2 | 546.6 | 14.2 | 601.7 | 3.74 |
| Net Profit (Loss) | 559.9 | 490.3 | 14.2 | 539.7 | 3.74 |
| Total Comprehensive Income | 680.1 | 342.9 | 98.34 | 361.9 | 87.92 |
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 128.9 | 159.5 | -19.18 | 138.6 | -7 |
| Total Operating Expenses Before Provisions for Credit and Other Losses | 582.6 | 558.4 | 4.33 | 608.3 | -4.22 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (excluding Non-Controlling Interest) | 14,082.3 | 12,325.4 | 14.25 |
| Assets | 135,368.3 | 116,442 | 16.25 |
| Investments | 21,316.3 | 17,975.1 | 18.59 |
| Loans and Advances Portfolio (Financing & Investment) | 95,482.9 | 86,390.8 | 10.52 |
| Clients' deposits | 105,482.6 | 86,078.5 | 22.54 |
| Profit (Loss) per Share | 0.56 | 0.49 | |
| 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 6%, which is mainly due to the increase in net income from investing and financing assets, net gains on FVSI investment and other operating income. However, net fee and commission income, dividend income and net exchange income has decreased.
Total operating expenses before net impairment charge have increased by 4%, due to the increase in salaries and employee related benefits and depreciation & amortization. However, other general and administrative expenses have decreased. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net income has increased due to the decrease in total operating expense before net impairment charge by 4%, which is mainly due to the decrease in salaries and employee related benefits. However, other general and administrative expenses and depreciation & amortization has increased. Also, there is a decrease in net impairment charge by 7%.
Net income from investing and financing assets and net gains on FVSI investment has increased. However, other operating income, net fee and commission income, net exchange income and dividend income 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 | Earnings per share is calculated by dividing the net income after zakat for the period ended 31 March 2023 and 31 March 2022 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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