Bank Albilad posts 22% increase in income for Q3 2017

Bank Albilad Chairman Abdulrahman I. Al-Humaid

Bank Albilad has announced its net income for the period ending Sept. 30 of SR716.2 million ($190.98 million), an increase of 22.18 percent, compared to SR586.2 million for the same period in 2016.
The total operating income for the period ending on Sept. 30 increased by 14.07 percent, compared to the same period last year, to reach SR2,175.4 million.
For the three-month period ending Sept. 30, Bank Albilad made a net income of SR248.1 million compared to SR227.8 million for the same period of 2016 with an increase of 8.91 percent. The total operating income for the third quarter of 2017 increased by 19.48 percent compared to the same period last year to reach SR763 million.
On the assets side, Bank Albilad’s total assets as on Sept. 30 amounted to SR62,533 million with an increase of 12.38 percent compared to the same period last year, due to the increase in net financing of 15.36 percent compared to the same period last year to reach SR41,815 million.
The net investments increased by 93.03 percent from September 2016 to reach SR5,872 million. The increase in the net income reflected positively on the earning per share to reach SR1.19 per share for the nine-month period of 2017 compared to SR0.98.
Bank Albilad said it allows customers to take advantage of various products and services through its network of 150 branches across the country, including five sales centers in Riyadh, Jeddah, Dhahran, Al-Kharj and Tabuk.
Two of the bank’s branches, namely Bank Albilad branch at Madinah airport and Enjaz branch at Riyadh airport, work 24x7.
Customers may also benefit from these services and products through the bank’s website www.bankalbilad.com or communicate via its social media channels including Twitter, Facebook, Instagram and LinkedIn.