Al Bilad bank posts lower net profit at SAR 142.5m in I1 of 2013

31/03/2013 Argaam Exclusive

Al Bilad bank, the smallest Saudi bank in terms of assets, reported SAR 142.5m net profit at the end of the first quarter of 2013, compared to SAR 511.5m in the same period last year, as shown in the following table:

Current Quarter Comparison (M)

Compared With The
Item Q1 2012 Q1 2013 Change‬
Net Income from investments and financial activities 193.90 221.95 14.5 %
Operating Income 419.81 449.81 7.1 %
Net Income 511.52 142.50 (72.1 %)
Average Shares 750.00 750.00 -
EPS (Riyals) 0.68 0.19 (72.1 %)

Balance Sheet (B)

Item 3m 2012 3m 2013 Change‬
Assets 28.54 31.33 9.8 %
Customer Deposits 22.91 25.28 10.3 %
Financing Investments 15.06 18.69 24.1 %

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Share Price

Bank Albilad
43.25
(0.35) (0.80 %)

Financial Ratios
Current
Market Cap (M) 32,437.50
Shares Outstanding ((M)) 750.00
EPS ( Riyal) (TTM) 2.18
Book Value (BV) ( Riyal) 15.82
Adjusted P/E (Last12) 19.82
P/E (TTM) 19.82
Price/book 2.73
Return on Average Assets (%) (TTM) 1.6
Return on Average Equity (%) (TTM) 14.8
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Financial results (Million)

Period Net Income from investments and financial activities Change Operating Income Change Net Income Change EPS (Riyal)
Q1 2004 - - - - - - -
Q2 2004 - - - - - - -
Q3 2004 - - - - - - -
Q4 2004 - - - - - - -
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
Q1 2006 72.88 - 206.16 - 102.88 - 0.14
Q2 2006 99.61 - 162.61 - 44.25 - 0.06
Q3 2006 92.80 - 142.10 - 30.72 - 0.04
Q4 2006 93.67 - 144.03 - 0.27 - 0.00
Q1 2007 109.79 50.7 % 171.23 (16.9 %) 25.69 (75.0 %) 0.03
Q2 2007 129.41 29.9 % 202.50 24.5 % 34.71 (21.5 %) 0.05
Q3 2007 146.30 57.7 % 197.41 38.9 % 39.11 27.3 % 0.05
Q4 2007 148.93 59.0 % 207.42 44.0 % (27.06) (10273.7 %) (0.04)
Q1 2008 146.86 33.8 % 223.19 30.3 % 50.83 97.8 % 0.07
Q2 2008 147.42 13.9 % 231.49 14.3 % 57.00 64.2 % 0.08
Q3 2008 135.09 (7.7 %) 217.86 10.4 % 44.64 14.1 % 0.06
Q4 2008 148.89 0.0 % 202.04 (2.6 %) (27.39) (1.2 %) (0.04)
Q1 2009 140.46 (4.4 %) 216.80 (2.9 %) 22.35 (56.0 %) 0.03
Q2 2009 138.42 (6.1 %) 238.54 3.0 % 26.85 (52.9 %) 0.04
Q3 2009 144.77 7.2 % 229.75 5.5 % 1.90 (95.7 %) 0.00
Q4 2009 124.46 (16.4 %) 223.96 10.8 % (299.49) (993.3 %) (0.40)
Q1 2010 148.48 5.7 % 286.09 32.0 % 52.58 135.3 % 0.07
Q2 2010 152.17 9.9 % 262.11 9.9 % 32.84 22.3 % 0.04
Q3 2010 162.88 12.5 % 272.67 18.7 % 2.37 24.4 % 0.00
Q4 2010 161.22 29.5 % 278.27 24.2 % 4.54 101.5 % 0.01
Q1 2011 164.93 11.1 % 308.44 7.8 % 55.46 5.5 % 0.07
Q2 2011 178.45 17.3 % 337.98 28.9 % 81.67 148.7 % 0.11
Q3 2011 176.74 8.5 % 334.56 22.7 % 85.47 3514.0 % 0.11
Q4 2011 182.87 13.4 % 392.53 41.1 % 107.03 2258.5 % 0.14
Q1 2012 193.90 17.6 % 419.81 36.1 % 511.52 822.4 % 0.68
Q2 2012 205.62 15.2 % 444.52 31.5 % 153.45 87.9 % 0.20
Q3 2012 214.61 21.4 % 434.32 29.8 % 120.15 40.6 % 0.16
Q4 2012 225.38 23.2 % 438.74 11.8 % 156.69 46.4 % 0.21
Q1 2013 221.95 14.5 % 449.81 7.1 % 142.50 (72.1 %) 0.19

Balance Sheet (B)

Period Assets Change Customer Deposits Change Financing Investments Change
Q1 2004 - - - - - -
Q2 2004 - - - - - -
Q3 2004 - - - - - -
Q4 2004 - - - - - -
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 7.01 - 3.92 - 5.21 -
Q1 2006 6.52 - 3.07 - 5.55 -
Q2 2006 8.16 - 4.88 - 7.03 -
Q3 2006 8.60 - 5.17 - 7.43 -
Q4 2006 11.28 61.0 % 7.86 100.7 % 9.64 85.1 %
Q1 2007 11.30 73.3 % 7.98 160.0 % 9.74 75.5 %
Q2 2007 15.35 88.1 % 9.81 101.2 % 13.45 91.4 %
Q3 2007 15.78 83.4 % 11.87 129.8 % 13.69 84.2 %
Q4 2007 16.64 47.5 % 12.69 61.5 % 6.19 (35.8 %)
Q1 2008 17.09 51.2 % 13.22 65.7 % 13.20 35.5 %
Q2 2008 15.33 (0.1 %) 11.39 16.1 % 11.96 (11.1 %)
Q3 2008 15.34 (2.8 %) 10.54 (11.2 %) 12.04 (12.0 %)
Q4 2008 16.05 (3.5 %) 10.97 (13.5 %) 8.28 33.7 %
Q1 2009 17.06 (0.1 %) 12.91 (2.4 %) 9.09 (31.2 %)
Q2 2009 16.41 7.0 % 12.71 11.6 % 10.28 (14.0 %)
Q3 2009 17.02 10.9 % 12.14 15.2 % 10.56 (12.3 %)
Q4 2009 17.41 8.5 % 13.72 25.1 % 11.01 33.1 %
Q1 2010 18.98 11.2 % 14.32 10.9 % 11.19 23.1 %
Q2 2010 18.92 15.3 % 15.00 18.0 % 11.81 14.9 %
Q3 2010 19.18 12.7 % 14.81 22.0 % 11.66 10.3 %
Q4 2010 21.12 21.3 % 16.93 23.4 % 12.29 11.6 %
Q1 2011 21.89 15.3 % 17.51 22.3 % 12.62 12.7 %
Q2 2011 22.46 18.7 % 17.30 15.3 % 13.01 10.2 %
Q3 2011 22.78 18.8 % 17.96 21.3 % 13.02 11.7 %
Q4 2011 27.73 31.3 % 23.04 36.1 % 13.78 12.1 %
Q1 2012 28.54 30.4 % 22.91 30.8 % 15.06 19.4 %
Q2 2012 29.06 29.4 % 23.61 36.5 % 16.21 24.6 %
Q3 2012 29.53 29.6 % 23.55 31.1 % 17.21 32.2 %
Q4 2012 29.78 7.4 % 23.74 3.1 % 18.26 32.5 %
Q1 2013 31.33 9.8 % 25.28 10.4 % 18.69 24.1 %

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - 141.17 %
Q2 2006 - - 85.30 %
Q3 2006 - - 67.04 %
Q4 2006 1.95 % 6.01 % 47.67 %
Q1 2007 1.13 % 3.34 % 22.93 %
Q2 2007 0.78 % 2.99 % 18.07 %
Q3 2007 0.82 % 3.22 % 16.20 %
Q4 2007 0.52 % 2.36 % 10.14 %
Q1 2008 0.69 % 3.15 % 12.99 %
Q2 2008 0.78 % 3.81 % 15.98 %
Q3 2008 0.81 % 3.94 % 17.93 %
Q4 2008 0.77 % 3.96 % 18.69 %
Q1 2009 0.57 % 3.02 % 14.92 %
Q2 2009 0.42 % 2.05 % 10.60 %
Q3 2009 0.15 % 0.72 % 3.81 %
Q4 2009 (1.48 %) (7.99 %) (43.41 %)
Q1 2010 (1.21 %) (6.92 %) (38.25 %)
Q2 2010 (1.20 %) (6.66 %) (36.40 %)
Q3 2010 (1.17 %) (6.62 %) (35.13 %)
Q4 2010 0.48 % 3.02 % 14.29 %
Q1 2011 0.47 % 3.06 % 14.28 %
Q2 2011 0.70 % 4.57 % 20.72 %
Q3 2011 1.08 % 7.10 % 31.98 %
Q4 2011 1.35 % 10.11 % 45.28 %
Q1 2012 3.12 % 22.13 % 104.23 %
Q2 2012 3.33 % 23.43 % 110.00 %
Q3 2012 3.41 % 23.74 % 109.21 %
Q4 2012 3.28 % 24.19 % 109.44 %
Q1 2013 1.91 % 13.52 % 64.38 %

Ratios

Period Customer Deposits Per Total Assets Financing Investments/Customer Deposits Financing Investments/Total Assets
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 55.89 % 133.10 % 74.39 %
Q1 2006 47.06 % 180.78 % 85.07 %
Q2 2006 59.73 % 144.09 % 86.07 %
Q3 2006 60.03 % 143.85 % 86.36 %
Q4 2006 69.66 % 122.74 % 85.49 %
Q1 2007 70.60 % 122.05 % 86.17 %
Q2 2007 63.89 % 137.07 % 87.58 %
Q3 2007 75.24 % 115.32 % 86.77 %
Q4 2007 76.28 % 48.78 % 37.21 %
Q1 2008 77.39 % 99.82 % 77.25 %
Q2 2008 74.29 % 105.00 % 78.00 %
Q3 2008 68.69 % 114.27 % 78.49 %
Q4 2008 68.35 % 75.44 % 51.56 %
Q1 2009 75.67 % 70.38 % 53.26 %
Q2 2009 77.48 % 80.87 % 62.66 %
Q3 2009 71.31 % 87.06 % 62.08 %
Q4 2009 78.80 % 80.27 % 63.26 %
Q1 2010 75.44 % 78.16 % 58.96 %
Q2 2010 79.31 % 78.74 % 62.45 %
Q3 2010 77.24 % 78.70 % 60.79 %
Q4 2010 80.19 % 72.58 % 58.20 %
Q1 2011 80.02 % 72.03 % 57.64 %
Q2 2011 77.04 % 75.21 % 57.94 %
Q3 2011 78.83 % 72.48 % 57.13 %
Q4 2011 83.09 % 59.81 % 49.70 %
Q1 2012 80.27 % 65.75 % 52.78 %
Q2 2012 81.26 % 68.65 % 55.78 %
Q3 2012 79.74 % 73.08 % 58.28 %
Q4 2012 79.73 % 76.89 % 61.31 %
Q1 2013 80.70 % 73.92 % 59.65 %

Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS Adjusted EPS Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 750.00 - - 3.87
Q1 2006 750.00 0.14 0.14 4.00
Q2 2006 750.00 0.20 0.20 4.05
Q3 2006 750.00 0.24 0.24 4.09
Q4 2006 750.00 0.24 0.24 4.03
Q1 2007 750.00 0.13 0.13 4.07
Q2 2007 750.00 0.12 0.12 4.11
Q3 2007 750.00 0.13 0.13 4.17
Q4 2007 750.00 0.10 0.10 4.14
Q1 2008 750.00 0.13 0.13 4.20
Q2 2008 750.00 0.16 0.16 4.28
Q3 2008 750.00 0.17 0.17 4.32
Q4 2008 750.00 0.17 0.17 4.28
Q1 2009 750.00 0.13 0.13 4.33
Q2 2009 750.00 0.09 0.09 4.38
Q3 2009 750.00 0.03 0.03 4.41
Q4 2009 750.00 (0.33) (0.33) 4.00
Q1 2010 750.00 (0.29) (0.29) 4.09
Q2 2010 750.00 (0.28) (0.28) 4.11
Q3 2010 750.00 (0.28) (0.28) 4.12
Q4 2010 750.00 0.12 0.12 4.14
Q1 2011 750.00 0.13 0.13 4.20
Q2 2011 750.00 0.19 0.19 4.31
Q3 2011 750.00 0.30 0.30 4.41
Q4 2011 750.00 0.44 0.44 4.56
Q1 2012 750.00 1.05 0.55 5.27
Q2 2012 750.00 1.14 0.65 5.45
Q3 2012 750.00 1.19 0.69 5.62
Q4 2012 750.00 1.26 0.76 5.83
Q1 2013 750.00 0.76 0.76 6.03

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - 17.59
Q1 2006 More than 50 More than 50 15.16
Q2 2006 More than 50 More than 50 9.91
Q3 2006 More than 50 More than 50 7.27
Q4 2006 More than 50 More than 50 3.95
Q1 2007 More than 50 More than 50 3.52
Q2 2007 More than 50 More than 50 2.78
Q3 2007 More than 50 More than 50 3.03
Q4 2007 More than 50 More than 50 3.90
Q1 2008 More than 50 More than 50 3.03
Q2 2008 More than 50 More than 50 3.68
Q3 2008 More than 50 More than 50 3.68
Q4 2008 More than 50 More than 50 2.62
Q1 2009 More than 50 More than 50 2.41
Q2 2009 More than 50 More than 50 2.37
Q3 2009 More than 50 More than 50 2.02
Q4 2009 NEG NEG 2.09
Q1 2010 NEG NEG 2.09
Q2 2010 NEG NEG 2.01
Q3 2010 NEG NEG 1.97
Q4 2010 More than 50 More than 50 1.89
Q1 2011 More than 50 More than 50 1.87
Q2 2011 40.20 40.20 1.79
Q3 2011 24.24 24.24 1.67
Q4 2011 18.11 18.11 1.75
Q1 2012 10.90 20.76 2.17
Q2 2012 9.36 16.57 1.96
Q3 2012 9.50 16.33 2.01
Q4 2012 9.03 14.96 1.95
Q1 2013 17.47 17.47 2.21

Business Segments (Million)

Compared With The
Period Retail sector Corporate Treasury Investment Banking and Brokerage other Remittances ( Enjaz Centers)
Q1 2006 45.35 100.59 31.83 - 25.79 2.61
Q2 2006 43.34 59.64 25.52 - 26.04 8.07
Q3 2006 37.65 47.85 12.67 - 28.36 15.57
Q4 2006 35.69 33.14 21.61 - 31.64 21.95
Q1 2007 33.68 49.87 42.11 - 26.61 18.96
Q2 2007 39.44 82.05 21.75 - 29.53 29.74
Q3 2007 38.87 82.68 12.89 - 33.73 29.25
Q4 2007 45.91 92.18 18.44 - 16.84 34.04
Q1 2008 53.45 102.68 24.41 - 7.48 35.16
Q2 2008 47.77 99.93 26.61 - 20.03 37.14
Q3 2008 46.68 101.56 0.78 17.00 10.68 41.16
Q4 2008 6.48 108.57 11.69 12.03 24.00 39.27
Q1 2009 52.51 92.95 4.87 12.38 3.66 50.44
Q2 2009 67.07 96.00 13.30 14.60 (1.31) 48.89
Q3 2009 21.00 77.26 87.28 3.26 (0.03) 40.97
Q4 2009 95.63 65.29 43.32 5.21 14.51 -
Q1 2010 133.14 103.02 31.24 8.35 10.35 -
Q2 2010 128.03 90.01 32.80 10.29 0.98 -
Q3 2010 159.09 74.17 29.24 6.79 3.37 -
Q4 2010 151.01 86.08 34.01 7.53 (0.36) -
Q1 2011 179.47 88.48 20.50 9.52 10.47 -
Q2 2011 192.55 99.42 22.41 14.95 8.65 -
Q3 2011 204.28 93.78 24.26 7.78 4.45 -
Q4 2011 219.47 126.47 26.02 10.69 9.88 -
Q1 2012 241.11 118.81 30.91 18.52 10.46 -
Q2 2012 261.73 119.22 32.57 18.17 12.83 -
Q3 2012 254.41 124.91 30.06 14.59 10.35 -
Q4 2012 243.68 136.57 31.71 11.83 14.95 -
Q1 2013 257.22 135.34 27.66 14.33 15.26 -

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