Riyadh – Mubasher: Bank Albilad reported a growth of 8.9% in profits during the third quarter of 2017 compared to the same period in 2016, and a rise of 3.9% in Q3 compared to the previous quarter.
Net earnings increased to SAR 248.1 million in Q3-17 compared to SAR 227.8 million in Q3-16, according to a bourse filing issued on Sunday.
The growth in profits is attributed to higher income from operations by 19.5% due to a rise in net income from investment and financing assets, the bank noted.
During the nine-month period, Bank Albilad achieved a gain of 22.2% in profits to SAR 716.2 million compared to SAR 586.2 million in the corresponding period in 2016.
It is worth noting that the bank reported a rise of 29.9% in profits during the second quarter of 2017 to SAR 238.8 million compared to SAR 586.2 million in Q2-16.
