Bank Albilad achieves net profit of 256.1 Million Saudi Riyal in the first quarter of 2018
Bank Albilad announced the results of the first quarter of 2018 for the financial year ended on 31.03.2018 that resulted in achieving net profit of 256.1 Million Saudi Riyal with an increase of 11.6% , in comparison with the profit of 229.4 Million Saudi Riyal that was achieved during the same period in 2017. Also, the operation income of the first quarter in 2018 increased by 14.5% , in comparison with the same period in last year to reach 791 Million Saudi Riyal. Moreover, the good growth in net profit has positively reflected on the earning per share as it reached during the last three months 0.43 Riyal per share, in comparison with 0.38 Riyal for the same period in last year. The profit of the first quarter in 2018 has increased with a percentage of 13.4%, in comparison with 225.9 Million Riyal for the fourth quarter in 2017.
Concerning assets, the total assets of the Bank reached 65,778 Million Saudi Riyal by the end of 31.03.2018, recording an increase estimated by 14.82% from the same period in last year, due to the increase achieved in the net financing with a percentage of 17.86% compared to the same period in last year to reach 45,616 Million Saudi Riyal. The investments also have increased with a percentage of 37.45% compared to the same period last year to reach 5,146 Million Saudi Riyal.
Dr. Abdulrahman Al-Humaid, the Chairman of the Board of Bank Albilad, has thanked, in his comment regarding the results of the bank, the customer of the bank for their trust, noting that these financial results wouldn't have been achieved without the blessings of Allah followed by this trust and the close connection between the Bank, its customers, and shareholders. He also has expressed his gratitude and thankfulness to the executive managements and all Albilad Ambassadors for their efforts exerted in achieving these results.
