Bank Albilad reported a 5% decline year-on-year (YoY) in net profit to SAR 270 million for Q1 2020, as compared to SAR 284.9 million for the same period last year.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 597.09 | 769.08 | 28.8 % |
| Operating Income | 921.41 | 1,004.15 | 9.0 % |
| Debt Provisions | (124.83) | (208.05) | (66.7 %) |
| Net Income | 284.89 | 270.04 | (5.2 %) |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.23 | 0.22 | (5.2 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 771.12 | 769.08 | (0.3 %) |
| Operating Income | 1,041.04 | 1,004.15 | (3.5 %) |
| Debt Provisions | (139.70) | (208.05) | (48.9 %) |
| Net Income | 327.15 | 270.04 | (17.5 %) |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.26 | 0.22 | (17.5 %) |
The profit drop was driven by a 16% increase in total operating expenses due to rise in impairment charge for credit and other financial assets, staff expenses, general and administrative expenses, depreciation and amortization.
When compared to previous quarter, net profit fell 17% as total operating income declined by 4% despite an increase in fee and commission income, other operating income and net exchange income.
| Item | 3m 2019 | 3m 2020 | Change |
|---|---|---|---|
| Assets | 72.90 | 88.40 | 21.3 % |
| Customer Deposits | 57.59 | 68.38 | 18.7 % |
| Financing Investments | 51.40 | 62.46 | 21.5 % |
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