The Group’s Comment on QIB Net Profit in 2019 Surges 10.9% to 3.05 Billion Riyals
Profits: Net profits after the payment of the profit of Sukuk holders as additional capital for the year 2019 reached 2,850.4 million riyals against 2,550.3 million riyals for the year 2018, with a rise of 11.76%. Earnings per share jumped to 1.21 riyals against 1.08 and regarding the earnings of the fourth quarter, they it reached 840.1 million riyals against 750 million riyals for the same period in the former fiscal year.
Operation Revenue: the operation income made 12.4% growth during the period and they reached around 7,738.2 million riyals against 6,882.9 million riyals for the same period in 2018. This growth occurred as a result of surge in the net income of financing and investment by 928.6 million riyals and at a rate of 15.5%. Additionally, net fees and commissions increased by 117 million Riyals. However, on the other hand, profits of foreign currencies declined by about 200 million riyals.
Assets: financing assets increased by about 11% in comparison with the same period in 2018 during which they reached 113,753 million riyals. These assets constitute about 69.6% of the total assets of the bank. Regard the quality of these assets, the percentage of unpaid debts reached 1.3% out of the total loan portfolio. With respect to the holders of registered accounts (similar to customer deposits in the commercial banks) increased by 13.3% to reach 96,641 million riyals, to form the percentage of financing assets for the holders of registered accounts at about 117%.