Saudi's Bank Albilad records $120mln profits in Q3 2021

On a quarterly basis, the net profits were 8% higher

  
Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26, 2008.

REUTERS/Stringer
Riyadh –  Bank Albilad achieved net profits worth SAR 449.7 million during the third quarter (Q3) of 2021, up by 17.5% from SAR 382.6 million in Q3-20.

On a quarterly basis, the net profits were 8% higher than SAR 416.1 million in Q2-21, according to the financial results on Wednesday.

During the first nine months of 2021, the Saudi lender registered net profits of SAR 1.25 billion, increasing by 29.6% from SAR 970.7 million in the January-September 2020 period.

Earnings per share stood at SAR 1.69 in the nine-month period in 2021, compared to SAR 1.3 in the prior-year period.

Bank Albilad’s assets have surged by 20.9% to SAR 111.6 billion at the end of September this year from SAR 92.3 billion in the same period in 2020.

Source: Mubasher

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