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Bank Albilad announces its Annual Financial Results for the year ended on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Gross Income from Special Commissions/Financing & Investments | 4,971.5 | 3,761.3 | 32.17 | ||
| Net Income from Special Commissions/Financing & Investments | 3,886.7 | 3,489.5 | 11.38 | ||
| Total Operation Profit (Loss) | 5,191.4 | 4,584 | 13.25 | ||
| Net Profit (Loss) before Zakat and Income Tax | 2,320.7 | 1,880.2 | 23.43 | ||
| Net Profit (Loss) | 2,081.7 | 1,686.5 | 23.43 | ||
| Total Comprehensive Income | 1,409.2 | 1,230.5 | 14.52 | ||
| Total Share Holders Equity (excluding Non-Controlling Interest) | 13,398.9 | 11,980.1 | 11.84 | ||
| Assets | 129,542.9 | 110,853.7 | 16.86 | ||
| Investments | 20,600.1 | 17,092.2 | 20.52 | ||
| Loans and Advances Portfolio (Financing & Investment) | 91,179.2 | 82,933.3 | 9.94 | ||
| Total Operating Expenses Before Provisions for Credit and Other Losses | 2,320.1 | 2,134.1 | 8.71 | ||
| Total Provisions (Reversals) for Expected Credit and Other Losses, net | 550.7 | 569.7 | -3.33 | ||
| Clients' deposits | 94,842.7 | 81,110.5 | 16.93 | ||
| Profit (Loss) per Share | 2.09 | 1.69 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income has increased due to the increase in total operating income by 13%, due to the increase in net income from investment and financing activities, other operating income, exchange income, gain/ (loss) from investments, and dividend income net . However, fee and commission income has decreased. Total operating expenses has increased by 6%, due to the increase in other general and administrative expenses, salaries and employee related benefits, and depreciation & amortization. However, net impairment charge for expected credit losses have decreased. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Some items have been re-classified. |
| Additional Information | Earnings per share is calculated by dividing the net income after zakat for the year ended 31 December 2022 and 31 December 2021 by the weighted average outstanding number of shares adjusted for treasury shares, which is 996 million shares, to give a retroactive effect of change in the number of shares increased as a result of the bonus shares issued. |
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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