Riyadh – Mubasher: Bank Albilad logged net profits amounting to SAR 1.14 billion in the first half (H1) of 2023, higher by 14.43% than SAR 1 billion in H1-22.
Earnings per share (EPS) increased to SAR 1.15 during January-June 2023 from SAR 1.01 in the year-ago period, according to the income statements.
The lender registered clients’ deposits valued at SAR 106.28 billion during the first six months (6M) of 2023, an annual growth of 19.28% from SAR 89.10 billion.
Assets surged by 11.43% to SAR 135.40 billion in H1-23 from SAR 121.51 billion in H1-22, while investments grew by 22.68% to SAR 22.42 billion from SAR 18.27 billion.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the bank’s net profits totalled SAR 585.90 million, up 14.66% year-on-year (YoY) from SAR 511 million.
On a quarterly basis, the Q2-23 net profits were higher by 4.64% than SAR 559.90 million which was recorded in Q1-23.
