Connect with us

Hi, what are you looking for?

Finance

Bank Albilad’s net profits rise by 37.5% in H1

Bank Albilad’s net profits

Bank Albilad’s net profits reached SAR 808.8 million ($215.6 million) after Zakat and tax in the first half of 2021, according to a bourse filing on Sunday.

The bank’s gains are higher by 37.5% than SAR 588.1 million in the first half of 2020.

According to the filing, earnings per share stood at SAR 1.08 in the first half of 2021 from SAR 0.79 in the first half in 2020.

Clients’ deposits increased by 25.8% to SAR 81.63 billion in the January-June 2021 period from SAR 64.87 billion in the same period last year.

Bank Albilad’s net profits

The bank’s assets have totalled SAR 107.65 billion at the end of June 2021, up 21% from SAR 88.85 billion in the prior-year period.

Total operating profit grew by nearly 13% to SAR 2.26 billion in the first half of 2021 from SAR 2 billion in the first half of 2020.

During the second quarter of 2021, Bank Albilad achieved an increase of 30.8% in net profits to SAR 416.1 million from SAR 318.1 million in the second quarter of 2020.

Total operating profits rose by 13% to SAR 1.13 billion in Q2-21 from SAR 999.5 million in in the second quarter of 2020.

On a quarterly basis, the net profits in the second quarter of 2021 were 5.9% higher than SAR 392.8 million in in the second quarter of 2021.

Meanwhile, the total operating profits were marginally lower by 0.17%.

Sukuk redemption

A bourse disclosure on June 26 said that Bank Albilad intends to redeem its outstanding SAR-denominated Regulatory Tier 2 Capital Sukuk due in 2026 for a total value of SAR 1.06 billion.

The percentage of the redeemed Sukuk will account for 53.05% of the total, according to the disclosure.

The 10-year Sukuk issue was first offered on 30 August 2016 through a private placement, with an aggregate face value of SAR 2 billion.

Albilad Capital will be responsible for the Sukuk deposit and contract details.

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..