Bank Albilad reported a net profit of SAR 490.3 million for Q1 2022, a rise of 25% from SAR 392.8 million in the year-ago period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 858.76 | 944.46 | 10.0 % |
| Operating Income | 1,132.99 | 1,264.51 | 11.6 % |
| Debt Provisions | (169.50) | (159.53) | 5.9 % |
| Net Income | 392.75 | 490.31 | 24.8 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.31 | 0.39 | 24.8 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Net Income from investments and financial activities | 901.49 | 944.46 | 4.8 % |
| Operating Income | 1,146.81 | 1,264.51 | 10.3 % |
| Debt Provisions | (121.33) | (159.53) | (31.5 %) |
| Net Income | 427.99 | 490.31 | 14.6 % |
| Average Shares | 1,250.00 | 1,250.00 | - |
| EPS (Riyals) | 0.34 | 0.39 | 14.6 % |
The profit growth was attributed to a rise of 12% year-on-year (YoY) in operating income, on the back of higher net income from investment and financing activities, ,net gains on financial instruments at fair value through income statement (FVIS), net exchange income, net other operating income and dividend income . On the other hand, fee and commission income decreased.
On a sequential basis, net profit jumped 14.6% from SAR 428 million, thanks to a 10% YoY increase in operating income.
| Item | 3m 2021 | 3m 2022 | Change |
|---|---|---|---|
| Assets | 102.52 | 116.44 | 13.6 % |
| Customer Deposits | 76.96 | 86.08 | 11.9 % |
| Financing Investments | 75.53 | 86.39 | 14.4 % |
Shareholders’ equity, after minority interest, rose 13.7% to SAR 12.325 billion in Q1 2022, from SAR 10.838 billion in the year-earlier period.
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