Bank Albilad achieves net profit of SAR 819 million until the end of the third quarter of 2018 with an increase of 14%
Bank Albilad announced its results until the end of the third quarter of 2018 for the financial year ended on 30.09.2018, hence it achieved net profit of SAR 819 in comparison to SAR 716 million for the same period in 2017, with an increase of 14%. The total operation income has increased until the end of the third quarter of 2018 with 16% in comparison to the same period of last year to reach SAR 2,514 million.
Regarding assets, the total assets of the Bank have reached the amount of SAR 70,707 million by the end of 30.09.2018, with an increase of 13% in comparison to the same period of last year, due to the increase in financing net with 19% in comparison to the same period of last year to reach SAR 49,738 million. The investments have also increased with 5% in comparison to the same period of last year to reach SAR 6,147 million. The good progress of the net profit has a positive impact on the earnings per share, which reached SAR 1.37 per share in comparison to SAR 1.19 in the same period of last year.
In his comment regarding the Bank's results, Dr. Abdul-Rahman Al-Humaid, the Chairman of the Board of Bank Albilad thanked the clients 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 clients, and shareholders. He also has also expressed his gratitude and thankfulness to the Executive Managements and all Albilad Ambassadors for their efforts exerted in achieving these results.
Al-Humaid has shown in his statement that "the Bank will continue exerting efforts to achieve the aspirations of the shareholders of the Bank and developing the revenues of their rights, while the Bank ensures providing the best banking services to its clients through all its available channels to the clients. The latest service of such kind was the opening of a current account in a digital way which is the first of its kind in the Kingdom and the Middle East, as the Bank is striving to be the first to provide banking services based on technology to the clients in the Kingdom, especially in the process of this huge transformation toward digital banking to achieve the National Transformation Program 2020. The Bank has also introduced for the first time in the Kingdom for the clients of the companies and commercial institutions a debit current account with speculation format and a program for purchasing educational building in accordance with the program of Kingdom's Vision 2030".
It is worth mentioning that Bank Albilad provides its services to all the clients through wide network of its branches throughout the country that exceed 150 branch, in addition to, five self-sale centers in "Riyadh, Jeddah, Dhahran, Tabuk and Alkharj" that work until Nine pm and Prince Muhammad Bin Abdul-Aziz Airport branch in Al Madina Al Munawwara that work 24 hours in addition to, more than 180 center for money transfer services "Enjaz". These services are supported by ATMs network that exceed 850 ATM, in addition to the latest comprehensive online services around the clock including "Albilad Net: www.bankalbilad.com", Albilad Application for smart phones. Bank Albilad also allows its clients to communicate with the Bank around the clock through Albilad phone 920001002 or through social media channels via the platforms of applications such as "Twitter, Facebook, Instagram, Linkedin and Snapchat" in order to serve the clients of "Albilad" and fulfill all their banking needs.
