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Bank Albilad announces its Interim Financial Results for the Period Ended on 2024-03-31 (Three Months)

1140
ALBILAD
-0.28 %
1445/10/20     29/04/2024 08:01:36

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Income From Special Commission of Financing 1,691.41,412.719.7281,682.10.552
Total Income From Special Commission of Investment 368.828529.403348.85.733
Net Income From Special Commission of Financing 810.6854.9-5.181822.5-1.446
Net Income From Special Commission of Investment 234.1182.528.273181.828.767
Total Operations Profit (Loss) 1,341.41,335.60.4341,337.30.306
Net Profit (Loss) before Zakat and Income Tax 716.9624.214.851676.75.94
Net Profit/(Loss) 643.1559.914.859606.95.964
Total Comprehensive Income 464.8680.1-31.657694.6-33.083
Total Operating Expenses Before Provisions for Credit and Other Losses 572.9582.6-1.664613.6-6.632
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net 51.5128.9-60.046479.574
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Assets 143,700.3135,368.36.155
Investments 23,010.821,316.37.949
Loans And Advances Portfolio (Financing And Investment) 103,305.795,482.98.192
Clients' deposits 113,740.5105,482.67.828
Total Shareholder’s Equity (After Deducting The Minority’s Rights) 15,70114,082.311.494
Profit (Loss) per Share 0.650.56
All figures are in (Millions) Saudi Arabia, Riyals


Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Millions) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is Net income from investing and financing assets increased by 1%, which is mainly due to increase in the income from investing and financing assets by 21%, however, the return on deposits and financial liabilities increased by 54%.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net income has increased due to the increase in total operating income, which is mainly due to the increase in dividend income, other operating income, net fee and commission income and net income from investing and financing assets. However, net gain on FVSI instruments and net exchange income have decreased.

Total operating expenses before net impairment charge have decreased by 2%, which is mainly due to the decrease in other general and administrative expenses and depreciation & amortization. However, salaries and employee related benefits have increased. Further, net impairment charge for expected credit losses decreased by 60%.

The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is Net impairment charge for expected credit losses decreased by 60%, 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.
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is Net income from investing and financing assets increased by 4%, which is mainly due to increase in the income from investing and financing assets by 1% and decrease in return on deposits and financial liabilities by 1%.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is Net income has increased due to the increase in total operating income, which is mainly due to the increase in net income from investing and financing assets, dividend and other operating income. However, net exchange income, net gain on FVSI instruments and net fee and commission income has decreased.

Total operating expenses before net impairment charge have decreased by 7%, due to the decrease in other general and administrative expenses, depreciation & amortization and salaries and employee related benefits.

The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is Net impairment charge for expected credit losses increased by 10%, which is mainly due to increase in net impairment charge for expected credit losses on financing.
Statement of the type of external auditor's report Unmodified Conclusion
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 three months period ended 31 March 2024 and 31 March 2023 by the weighted average outstanding number of shares adjusted for treasury shares, which is 993 million shares.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Key Parameters
Last Price 35.1
Net Change -0.1 (-0.28%)
Value Traded (Sar) 38,937,077.1
Volume Traded 1,104,344
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