Bank Albilad announces its Annual Financial results for the Period Ended on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Total Income From Special Commission of Financing | 6,273.2 | 4,312.9 | 45.45 | ||
| Total Income From Special Commission of Investment | 1,270.6 | 658.6 | 92.92 | ||
| Net Income From Special Commission of Financing | 3,463 | 3,391.8 | 2.1 | ||
| Net Income From Special Commission of Investment | 646.8 | 494.9 | 30.69 | ||
| Total Operations Profit (Loss) | 5,302.8 | 5,191.4 | 2.15 | ||
| Net Profit (Loss) before Zakat and Income Tax | 2,641 | 2,320.7 | 13.8 | ||
| Net profit (Loss) | 2,368.9 | 2,081.7 | 13.8 | ||
| Total Comprehensive Income | 2,446.7 | 1,409.2 | 73.62 | ||
| Assets | 143,105.8 | 129,542.9 | 10.47 | ||
| Investments | 22,079.9 | 20,600.1 | 7.18 | ||
| Loans And Advances Portfolio (Financing And Investment) | 102,080.1 | 91,179.2 | 11.96 | ||
| Clients' deposits | 112,831.2 | 94,842.7 | 18.97 | ||
| Total Shareholder’s Equity (After Deducting The Minority’s Rights) | 15,258.1 | 13,398.9 | 13.88 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,338 | 2,320.1 | 0.77 | ||
| Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net | 323.8 | 550.7 | -41.2 | ||
| Profit (Loss) per Share | 2.38 | 2.09 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the special commission income during the current year compared to the last year is | Net income from investing and financing assets increased by 6%, which is mainly due to increase in the income from investing and financing assets by 52%, however, the return on deposits and financial liabilities increased by 217%. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income has increased due to the increase in total operating income by 2%, which is mainly due to the increase in net income from investing and financing assets, net gain on FVSI instruments and dividend income. However, other operating income, net exchange income and net fee and commission income have decreased.
Total operating expenses before net impairment charge have increased by 1%, which is mainly due to the increase in salaries and employee related benefits and depreciation & amortization. However, other general and administrative expenses have decreased. Further, net impairment charge for expected credit losses decreased by 41%. |
| The reason of the increase (decrease) in the total net provision of expected credit losses and other losses (reversing entry) during the current year compared to the last year is | Net impairment charge for expected credit losses decreased by 41%, which is mainly due to decrease in net impairment charge for expected credit losses on financing due to better quality and composition of the portfolio. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | None |
| Additional Information | Earnings per share is calculated by dividing the net income after zakat for the year ended 31 December 2023 and 31 December 2022 by the weighted average outstanding number of shares adjusted for treasury shares, which is 995 million shares. |
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