Bank Albilad’s 2020 profits rise 8.4% to $ 1.35 billion

Bank Albilad's financial statements showed that the bank's profits last year increased by 8.4% on an annual basis.

According to the bank's results for the Saudi market (Tadawul), today, Sunday, last year's profits amounted to 1.35 billion riyals, compared to 1.24 billion riyals in 2019.

> The bank said that the increase in profits during the comparative years was due to the increase in total operating income by 8%, which resulted from the increase in net income from investment and financing assets, and gains in currency conversion. Foreign.

> The bank indicated that on the other hand, net investments, net income from fees, commissions and income from other operations and dividends decreased, and total operating expenses increased by 8%; As a result of the increase in the provision for expected credit losses, other general and administrative expenses, salaries and the like expenses, depreciation and amortization.