The bank achieved 17.8% growth compared to the previous quarter’s profits, which was 270 million riyals.
According to Arabia Net, the value of net special commission income / financing and investments in the second quarter was 830.2 million riyals, compared to 693.1 million riyals, in the corresponding period of last year with growth 19.78%.
Bank Albilad attributed the growth of its profits to the increase in net income as a result of the increase in total operating income by 4%, as a result of the increase in net income from investment and financing assets and foreign exchange gain, offset by a decrease In investment gains / (losses), net fees, commissions, other operating income and dividends.
On the other hand, total operating expenses increased by 4%, due to the increase in salary expenses and the like, and an expected credit loss and amortization and amortization, offset by a decrease in general and administrative expenses OtherAbout the reasons for the decline in profits in the first half, the bank stated that this is due to a decrease in net income by 0.3% due to an increase in total operating expenses by 10%, and as a result of the increase in the provision for expected credit losses, salary expenses and the like, depreciation and amortization, offset by a decrease in other general and administrative expenses.
During the first half, total operating income increased by 7%, due to the increase in net income from investment and financing assets and foreign exchange gains, offset by a decrease in investment gains / (losses) Net and net fees, commission, income from other operations and dividends.
(Fun Knowledge of Knowledge)
