Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business, Banking & Finance

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Bank Albilad posts net profit

Unitholders can expect to receive their cash distributions within 10 days from the entitlement date.
By TRENDS Desk
October 26, 2023 6:03 pm
  • The bank reported a 3 percent year-on-year increase in gross operating income during January-September 2023 period.
  • The rise in gross operating income was mainly due to higher net income from investing and financing assets.

RIYADH, SAUDI ARABIA – Bank Albilad reported a 14 percent rise in net profit to US$469 million (SAR 1.76 billion) for the first nine months of 2023, compared to US$410 million (SAR 1.54 billion) in the corresponding period last year.

The bank reported a 3 percent year-on-year increase in gross operating income during the nine-month period.

This was mainly due to higher net income from investing and financing assets.

The third-quarter net profit grew 14 percent to US$164 million (SAR 616.20 million) from US$144 million (SAR 540.65 million) in Q3 2022, on a 1 percent higher gross operating income. 

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Energy deals top list as Bahrain issues $1.6bn tenders in Q1 2021

Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m     Bahrain…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

Dubai’s Shuaa plans SPACs worth $600 million

Shuaa Capital plans to set up three blank-check companies of around $200 million each.

[adinserter block="4"]