Bank Albilad announces its consolidated financial results for the year ended December 31, 2010 as following:
1.The net income for Q4 is SAR 4.5 Million compared to net losses SAR 299.5 Million for the same period 2009.this is an increase of 87.5% over SAR 2.4 Million net income for Q3 2010.
2.The total income from operations for Q4 is SAR282.7 Million compared to SAR 224 Million with an increase of 26.2%.
3.The net income from investing and financing assets for Q4 is SAR 161.2 Million compared to 124.5 Million with an increase of 29.5%
4.Net income (for the twelve months) is SAR 92 Million compared to net losses of SAR 248 Million for the last year.
5.The earnings per share is SAR 0.31 (for the twelve months) compared to SAR (0.83) for the last year.
6.The Total operation income (for the twelve months) is SAR 1,099 million compared to SAR 909 Million for 2009 with an increase of 21%.
7.The net income from investing and financing assets (for the twelve months) is SAR 625 Million compared to SAR 548 Million for 2009 with an increase of 14%.
8.The total assets of SAR 21,117 Million as of December 31,2010 compared to SAR 17,411 Million as of December 31,2009 with an increase of 21.3%, total investment portfolio of SAR 1,611 million compared to SAR 1,534 Million in 2009 with an increase of 5% , the total financing portfolio of SAR12,290 Million compared to SAR 11,014 in 2009 with an increase of 11.6% , the total customer deposit of SAR 16,932 Million compared to SAR 13,721 Million in 2009 with an increase of 23.4%.
9. The main reasons for growth in net profit are the increase in operating income and the decrease in operation expenses. The bank reclassified some of the financial position items.
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