Bank Albilad announces its interim consolidated financial results for the period ended March 31, 2012 as follows:
1.The net income for Q1 of 2012 is SAR 511.5 Million compared to net income SAR 55.5 Million for the same period in 2011, with an increase of 821.6% and compared to net income for Q4 2011 was SAR 107 Million with an increase of 378%.
2.The total operating income for Q1 of 2012 is SAR 420 Million compared to SAR 308 Million for the same period in 2011 with an increase of 36.4%.
3.The net income from investing and financing assets for Q1 of 2012 is SAR 194 Million compared to 165 Million for the same period in 2011 with an increase of 17.6%.
4.The earnings per share is SAR 1.71 (for the three months period ended March 31, 2012) compared to SAR 0.18 for the same period last year.
5.The total assets are SAR 28,540 Million as of March 31,2012 compared to SAR 21,887 Million as of March 31,2011 with an increase of 30.4%, total investment portfolio is SAR 803 million as of March 31,2012 compared to SAR 1,998 Million as of March 31,2011 which represent a decrease of 59.8%, the net financing portfolio is SAR 15,062 Million as of March 31,2012 compared to SAR 12,616 Million as of March 31,2011 with an increase of 19.4% , the total customer deposits are SAR 22,909 Million as of March 31,2012 compared to SAR 17,514 Million as of March 31, 2011 with an increase of 30.8%.
6. The main reason for the growth in net profit for the first Quarter 2012 compared to same quarter last year and the previous quarter is the increase in the income from investing and financing assets, fees and commission income and the bank gained SAR 373 Million as an non-operating income ( Extra-ordinary ) from selling its land. The decrease in the net investment portfolio is due to bank concentration to increase the investment in the financing portfolio .
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