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Al Bilad Bank’s net income was up 14% y-o-y to SAR 702.7 mn in 3Q 2024, on the back of an 8% rise in income from investing and financing assets, it said in a disclosure to Tadawul. These gains outweighed declines in net gains on FVSI instruments and dividend income. The lender’s total income from financing grew 11.3% y-o-y to SAR 1.8 bn, while total income from investment rose 13.4% y-o-y to SAR 363.3 mn over the same period.
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On a 9M basis: Al Bilad Bank’s bottom line logged a 14.4% y-o-y increase to SAR 2.0 bn in the first nine months of the year. Total income from financing grew 14.8% y-o-y to SAR 5.3 bn, while its total income from investments saw a 19.1% y-o-y uptick to SAR 1.1 bn.
