- RIYADH: Bank Albilad has announced its consolidated financial results for the first three months of 2011.
- The net income for Q1, 2011 is SR55.5 million compared to SR52.6 million for the same period in 2010, with an increase of 5.5 percent, and compared to net income for Q4 2010 which was SR4.5 million, marking an increase, according to a bank’s statement on Tadawul website.
The total income from operations for Q1 is SR308 million compared to SR286 million for the same period in 2010 with an increase of 7.7 percent.
The net income from investing and financing assets for Q1 is SR165 million compared to 148.5 million for the same period in 2010 with an increase of 11.1 percent.
The earning per share is SR0.18 (for the three months period ended March 31, 2011) compared to SR0.18 for the same period last year.
The main reason for the growth in net profit for Q1, 2011 compared to same quarter last year is the increase in income from investing and financing assets.
The bank has reclassified some of the figures in the financial statements.