AlBilad Bank Achieves Highest Half Profits Reaching 15% of 532 Million Riyals in First Half of 2018

AlBilad Bank Achieves Highest Half Profits Reaching 15% of 532 Million Riyals in First Half of 2018

Bank AlBilad announced the first half of the year revenues for the financial period ending on 30/06/2018. These revenues considered the highest revenues the bank achieved since date of establishment resulting in net profit of 532 million riyals compared to 464 million riyals in the same period of the year 2017 reaching 15 % increment. Also, operation profit has increased by the end of the first half of 2018 reaching 18% compared to similar period of the previous year reaching 1,634 million riyals.

Concerning assets, total bank assets reached 68,407 million riyals by the end of 30/06/2018 reaching 14.5% increment compared to similar period of the previous year due to funding net value increment reaching 16.4% during similar period reaching 47,340 million. Furthermore, investments increased by 20% compared with similar period reaching 5,408 million riyals. This net profit development had a positive impact on stock profit reaching during six months 0.89 riyals for a stock compared to 0.77 riyals for similar period of the last year.

Within the context of bank results, Dr. Abdel Rahman Al-Humaid, Bank AlBilad CEO, thanked the clients for trusting the bank stating that these monetary results are only possible due to Allah grace and this trust and strong relation between the bank, the clients, and stakeholders. He also thanked executive department and all countries ambassadors efforts for achieving these results.

He also said "the bank continued his efforts to achieve bank stockholders aspirations and developing their revenues maintaining best banking services for clients through finding digital solutions in clients communicating channels and the latest one was opening a current account via Internet banking. This way is the first of its kind in kingdom and Middle East in order to be the first bank providing banking services based on technology in KSA at the stage of turnover towards digital banking services to achieve national turnover program of 2020. In addition, bank offers for the fits time in KSA a debt current account for companies and organizations for speculation and TAMLAK program to fund educational buildings in line with kingdom vision of 2030.

It is also noteworthy that Bank AlBilad offer his services through a vast network for all clients exceeding 150 branches, in addition to five self-sales centers in (Riyadh, Jeddah,  Dhahran,  Tabuk, and Al-Kharj) working till 9 PM, branch of Prince Mohammad bin Abdulaziz International Airport in Medina working 24/7, and more than 179 money transfer service centers "Enjaz" supported by ATMs exceeding 850 machines, in addition to latest integrated electronic services 24/7 including and Bank AlBilad application for smart phones. Bank AlBilad enables communication service 24/7 with clients using Bank AlBilad line 920001002 or via social media including Twitter, Facebook, Instagram, Linkedin, and Snapchat to offer services to Bank AlBilad valued clients and fulfill all banking needs.​

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