Bank Albilad reported a net profit after Zakat and tax of SAR 1.686 billion for 2021, a rise of 25% from SAR 1.348 billion in the year-ago period.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 3,292.63 | 3,489.49 | 6.0 % |
| Operating Income | 4,262.05 | 4,583.95 | 7.6 % |
| Total Provisions | (694.51) | (569.67) | 18.0 % |
| Net Income | 1,348.52 | 1,686.54 | 25.1 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 1.08 | 1.35 | 25.1 % |
The profit surged on higher net income from investment and financing activities, fee and commission income, dividend income and other operating income. However, exchange income decreased.
Bank Albilad managed to cut its operating expenses by 2%, due to the decrease in net impairment charge for expected credit losses. However, other general and administrative expenses, depreciation and amortization, and salaries and employee related benefits increased.
In Q4 2021, the bank reported a net profit of SAR 427.96 million, an increase of 13% year-on-year (YoY).
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 846.81 | 901.49 | 6.5 % |
| Operating Income | 1,139.90 | 1,146.81 | 0.6 % |
| Debt Provisions | (180.25) | (121.33) | 32.7 % |
| Net Income | 377.81 | 427.99 | 13.3 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.30 | 0.34 | 13.3 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 886.75 | 901.49 | 1.7 % |
| Operating Income | 1,174.47 | 1,146.81 | (2.4 %) |
| Debt Provisions | (142.50) | (121.33) | 14.9 % |
| Net Income | 449.70 | 427.99 | (4.8 %) |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.36 | 0.34 | (4.8 %) |
On a sequential basis, net profit declined 4.8% from SAR 449.70 million in Q3 2021.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Assets | 95.75 | 110.85 | 15.8 % |
| Customer Deposits | 71.55 | 81.11 | 13.4 % |
| Financing Investments | 70.11 | 82.93 | 18.3 % |
Total shareholders’ equity, excluding minority interests, grew by 11.5% to SAR 11.98 billion as of Dec. 31, 2021, from SAR 10.74 billion a year earlier.
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