Bank Albilad announces its consolidated annual financial results for the period ended December 31, 2012 as follows
1.Net income for Q4 is SR 156.7 Million compared to net income of SR 107 Million for same period in 2011, with an increase of 46.4%, and compared to net income for Q3 2012 of SR 120.1 Million with an increase of 30.5%.
2.Total income from operations for Q4 is SR 438.7 Million compared to SR 393 Million for same period in 2011 with an increase of 11.6%.
3.Net income from investing and financing assets for Q4 is SR 225.4 Million compared to SR 183 Million for same period in 2011 with an increase of 23.2%.
4.Net income for twelve months is SR 942 Million compared to net income of SR 330 Million for same period in 2011, with an increase of 185%.
5.Earnings per share is SR 3.14 for twelve months period ended December 31, 2012 compared to SR 1.10 for same period last year.
6.Total income from operations for twelve months period ended December 31, 2012 is SR 1,737 Million compared to SR 1,374 Million for same period in 2011 with an increase of 26.4%.
7.Net income from investing and financing assets for twelve months period ended December 31, 2012 is SR 839.5 Million compared to SR 703 Million for same period in 2011 with an increase of 19.4%.
8.Total assets are SR 29,778 Million as at December 31,2012 compared to SR 27,727 Million as at December 31 ,2011 with an increase of 7.4%, total investment portfolio is SR 1,537 Million as at December 31 ,2012 compared to SR 951 Million as at December 31,2011 with an increase of 61.6% , net financing portfolio is SR 18,256 Million as at December 31, 2012 compared to SR 13,780 as at December 31 ,2011 with an increase of 32.5%, Total customer deposits are SR 23,742 Million as at December 30 ,2012 compared to SR 23,038 Million as at December 31,2011 with an increase of 3%.
9.The reason for increase in net profit for Q4 compared to same quarter last year is due to increase in income from investing and financing assets.
10.The reason for growth in net profit for twelve months ended December 31,2012 compared to same period last year is the increase in the income from investing and financing assets and bank gained SR 373 Million as a non-operating income (Extra-ordinary) from selling its land in Q1 2012.
11.The reason for increase in net profit for Q4 compared to previous quarter is due to decrease in operating expenses.
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