Sunday, Jan 08, 2012
RIYADH (Zawya Dow Jones)--Saudi Arabia's Bank Albilad (1140.SA) said Sunday its fourth-quarter net profit soared to 107 million Saudi riyals ($28.5 million) from SAR4.5 million in the year earlier period mainly due to an increase in net income from investing and financing.
Earnings per share for the full year came in at SAR1.10, compared with SAR0.31 in the year-earlier period, the lender said in a statement posted on the Saudi bourse website.
The total income from operations for the fourth quarter rose 41% to SAR393 million.
The bank's assets totaled SAR27.7 billion at the end of December , up from SAR21.1 billion a year ago. Deposits stood at SAR23.04 billion, a 36% increase from the same period in 2010.
Albilad didn't say whether it booked provisions in the three months to December.
Shares closed up 1% at SAR20 Saturday.
-By Summer Said, Dow Jones Newswires; +966-546-842-373; summer.said@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
08-01-12 0729GMT
