{"id":204437,"date":"2021-08-01T17:08:51","date_gmt":"2021-08-01T17:08:51","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=204437"},"modified":"2021-08-01T17:08:51","modified_gmt":"2021-08-01T17:08:51","slug":"bank-albilads-net-profits","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bank-albilads-net-profits\/","title":{"rendered":"Bank Albilad\u2019s net profits rise by 37.5% in H1"},"content":{"rendered":"

Bank Albilad\u2019s<\/a> 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.<\/p>\n

The bank\u2019s gains are higher by 37.5% than SAR 588.1 million in the first half of 2020.<\/p>\n

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.<\/p>\n

Clients\u2019 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.<\/p>\n

Bank Albilad\u2019s net profits<\/h2>\n

The bank\u2019s 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Meanwhile, the total operating profits were marginally lower by 0.17%.<\/p>\n

Sukuk redemption<\/h2>\n

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.<\/p>\n

The percentage of the redeemed Sukuk will account for 53.05% of the total, according to the disclosure.<\/p>\n

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.<\/p>\n

Albilad Capital will be responsible for the Sukuk deposit and contract details.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank Albilad\u2019s 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\u2019s 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 […]<\/p>\n","protected":false},"author":4,"featured_media":204438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[278],"class_list":["post-204437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-featured"],"yoast_head":"\nBank Albilad\u2019s net profits rise by 37.5% in H1 - BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - Bank Albilad\u2019s 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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/bank-albilads-net-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Albilad\u2019s net profits rise by 37.5% in H1 - 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