Riyadh – Bank Albilad has achieved net profits worth SAR 1 billion in the first half (H1) of 2022, an annual jump of 23.80% from SAR 808.80 million.

Earnings per share (EPS) settled at SAR 1.01 in the first six months (6M) of 2022, versus SAR 0.81 in the year-ago period, according to a bourse disclosure on Wednesday.

The clients' deposits went up by 9.15% to SAR 89.10 billion in H1-22, compared to SAR 81.63 billion in H1-21. Meanwhile, the assets amounted to SAR 121.51 billion in H1-22, a 12.87% year-on-year (YoY) growth from SAR 107.65 billion.

During the second quarter (Q2) of 2022, the bank’s net profits reached SAR 511 million, a surge of 22.81% from SAR 416.10 million in the same period a year earlier.

In the January-March 2022 period, the Saudi lender logged net profits worth SAR 490.30 million, higher by 24.82% than SAR 392.80 million in Q1-21.

Last April, Bank Albilad’s shareholders greenlighted a 33.33% capital hike through bonus shares.

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