Riyadh – Mubasher: Bank Albilad’s interim financial results for the first quarter of fiscal year 2017 showed a rise of 31.46% in net profit to SAR 229.4 million, versus SAR 174.5 million for Q1-16.
Net profit for Q1-17 advanced 3.57% compared to SAR 221.5 million for Q4-16, a bourse filing said on Wednesday.
The year-on-year rise was attributed to a 10.8% growth in total operating income.
Total operating expenses rose by 3.4% due to the increases in staff expenses, depreciation, and other general and administrative expenses.
Gross income from investing and financing assets for Q1-17 reached SAR 483 million, 21.8% up from SAR 396 for Q1-16.
Total shareholders' equity (excluding minority rights) as of 31 March 2017 levelled up 12% to SAR 7.3 billion, compared to SAR 6.5 billion for Q1-16.
