Riyadh – Mubasher: Bank Albilad reported an annual growth of 14.20% in net profit to SAR 559.90 million during the first quarter (Q1) of 2023, compared to SAR 490.30 million.
The earnings per share (EPS) hit SAR 0.56 as of 31 March 2023, higher than SAR 0.49 in the year-ago period, according to the interim financial results.
In the first three months (3M) of 2023, the clients’ deposits reached SAR 105.48 billion, a 22.54% year-on-year (YoY) surge from SAR 86.07 billion.
The assets enlarged by 16.25% to SAR 135.36 billion in Q1-23 from SAR 116.44 billion in Q1-22, while the investments climbed by 18.59% to SAR 21.31 billion from SAR 17.97 billion.
On a quarterly basis, the Q1-23 net profits increased by 3.74% from SAR 539.70 million in Q4-22.
Last year, the net profits of Bank Albilad stood at SAR 2.08 billion, up 23.43% from SAR 1.68 billion in 2021.
