The highest since the Bank incorporation
Bank Albilad achieves net profits of SAR 1,110.5 million with an increase of 18% by the end of 2018.
Bank Albilad declared its annual financial results for the period ended 31 December 2018 (twelve months) with record net profits totaling SAR 1,110.5 million with an increase of 18% compared to a net profit of SAR 942 million achieved in 2017, and the fourth quarter profits increased totaling SAR 291.5 million with percentage of 29% compared to the same quarter of the last year.
The total assets at 31 December 2018 were SAR 73,636 million compared to SAR 63,208 million for the same period of the last year with an increase of 16.5%. Total customer deposits as at 31 December 2018 amounted to SAR 57,176 million compared to SR 47,783 million for the same period last year with an increase of 20%.
Dr. Abdulrahman bin Ibrahim AlHumay d, Chairman of the Board of Directors commented on the Bank results and thanked the bank's customers for their confidence and said "These financial results would not have been achieved without the help of the God Almighty and then this trust and close correlation between the Bank, customers and shareholders. Dr. AlHumay d has also expressed his sincere thanks and appreciation to the executive management and staff for the efforts exerted to achieve these results since the bank's inception. AlHumay d affirmed in his statement that the Bank will continue its efforts to realize the aspirations of the Bank's shareholders and to continue to develop their revenues. The bank is keen to provide the best banking services to its customers through all channels available to customers, in addition to the continuous development of electronic services and improve the customers' experience. Dr. AlHumay d mentioned that, during 2018, the Bank offered several new innovative products, of which the most significant: the digital account launched by the Bank for the first time in the Kingdom and the Middle East, which enable the customers to open a current account shortly and automatically through the bank's website without visiting the branch or submitting any documents. The Bank also launched self-service machine (Enjaz) which is the first of its kind in the Saudi market, which allows customers to execute international remittances automatically without the need to visit the transfer centers.
Dr. AlHumay d concluded that Bank Albilad will continue to lead the way in providing customers with enhanced experience and ease their lives to have banking services that would meet the concerns of all".
It is worth noting that Bank Albilad offers its services to all customers through an extensive network of branches spreading throughout the country, exceeding 150 branches in addition to five sales centers in (Riyadh, Jeddah, Dhahran, Tabuk and Al Kharj) working until 9:00 pm, in addition to more than 180 remittance centers (Enjaz) including around the clock center in King Khalid Airport in Riyadh. The Bank also extends its services to companies and small and medium enterprises through more than 10 bespoke centers in (Riyadh- Jeddah- Dammam- Al Ihsaa- Abha- Mecca- AL Qassim- Hail- Al Jubail- Al Khafji), business call center phone number 8001237777 and business banking email SME@bankalbilad.com, supported by ATM network comprise more than 850 ATMs, state of the art, integrated and around the clock electronic services including "Albilad Net" www.bankalbilad.com and Albilad smartphone app. Furthermore, Albilad Bank provides 24-hours access to its customers vial Albilad phone: 920001002 or through all social media channels such as Twitter, Facebook, Instagram, LinkedIn and Snapchat in order to serve Albilad Bank's customers and to meet all their banking needs.
