- Bank AlBilad‘s third-quarter profit reached 702.7 million riyals, marking a 14% increase year-on-year and exceeding the estimated 678 million riyals.
- Operating income for the same period increased by 8.3% to 1.45 billion riyals, surpassing the estimate of 1.33 billion riyals.
- The bank reported impairments of 53.7 million riyals, showing a decrease of 26% year-on-year.
- Pretax profit rose by 14% year-on-year to reach 783.4 million riyals.
- Operating expenses increased by 5.7%, totaling 609.2 million riyals.
- Total assets grew by 12% to 153.72 billion riyals.
- Investments increased by 6.6% to 23.00 billion riyals.
- Net loans saw a 5% growth, amounting to 106.70 billion riyals.
- Total deposits were up by 12%, reaching 122.34 billion riyals.
- The bank reported increased income from investing and financing assets.
- Return on deposits and financial liabilities climbed by 13%.
- There was an increase in net income from investing and financing assets, as well as net fee and commission income, net exchange income, and other operating income.
- Dividend income, however, experienced a decrease.
- Analyst recommendations consist of 1 buy, 5 holds, and 2 sells.
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A look at Bank AlBilad Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Bank AlBilad, a full-service bank providing diverse banking products and services, has received favorable Smartkarma Smart Scores. With solid marks in Growth, Resilience, and Momentum at 4, the bank demonstrates promising long-term prospects in terms of expansion, stability, and market momentum. Additionally, both Value and Dividend scores standing at 3 indicate a balanced approach to financial performance and investor returns. This overall positive outlook suggests Bank AlBilad is well-positioned for sustained growth and resilience in the evolving banking landscape.
Bank AlBilad, known for its comprehensive offerings in business, retail, and investment banking, reflects a sturdy foundation for future success according to the Smartkarma Smart Scores. Notably, the bank excels in areas such as Growth, Resilience, and Momentum with scores of 4, underscoring its potential for continued expansion and market strength. This, combined with respectable scores in Value and Dividend at 3, showcases a well-rounded performance that bodes well for investors seeking a reliable and potentially rewarding financial institution like Bank AlBilad.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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