Bank Albilad announces its interim consolidated financial results for the period ended March 31, 2013 as follows
1.Net income for Q1 is SR 142.5 Million compared to net income of SR 511.5 Million for same period in 2012, with a decrease of 72% , and compared to net income for Q4 2012 of SR 156.7 Million with
a decrease of 9%
2.Total income from operations for Q1 is SR 450 Million compared to SR 420 Million for same period in 2012 with an increase of 7%
3.Net income from investing and financing assets for Q1 is SR 222 Million compared to SR 194 Million for same period in 2012 with an increase of 14.4%
4.Earnings per share is SR 0.48 for three months period ended March 31, 2013 compared to SR 1.71 for same period last year.
5.Total assets are SR 31,328 Million as at March 31,2013 compared to SR 28,540 Million as at March 31 ,2012 with an increase of 9.8%, Total investment portfolio is SR 2,439 Million as at March 31 ,2013 compared to SR 803 Million as at March 31,2012 with an increase of 203.7% , Net financing portfolio is SR 18,688 Million as at March 31, 2013 compared to SR 15,062 as at March 31 ,2012 with an increase of 24%, Total customer deposits are SR 25,281 Million as at March 31 ,2013 compared to SR 22,909 Million as at March 31,2012 with an increase of 10.4%.
6.The reason for the decrease in net profit for the current quarter compared to same quarter last year is due to the bank gained SAR 373 Million as a non-operating income (Extra-ordinary) from selling its land in Q1 2012.
7.The reason for the decrease in the net profit for current quarter compared to previous quarter is due to increase in operating expenses.
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