Bank Albilad’s H1 2022 results show strong position, stability: Chairman

Nasser bin Mohammed Al-Subaie, Chairman of Bank Albilad

Nasser bin Mohammed Al-Subaie, Chairman of Bank Albilad, said the H1 2022 financial results reflect the bank’s strong financial position, stability and future aspirations.  

The bank’s net profit topped SAR 1 billion in the six-month period, which underlines its solid position, Al-Subaie said in a statement sent to Argaam, noting that the bank started to reap fruits from its efficient operations through innovative banking products.  

The Tadawul-listed bank will deliver outstanding performance and show higher competitive ability to enhance its position among shareholders, clients and employees, he stated.   

Bank Albilad is proud of its competitive ability and integrated plan, on which it works towards a sustainable future for everyone, the Chairman said, noting this plan is underpinned by continuous development in the digital infrastructure field, which helps move the bank to the next competitive stage.   

The bank reported a net profit of SAR 1.001 billion for H1 2022, a rise of 24% from SAR 808.8 million in the year-ago period. The second-quarter net profit stood at SAR 511 million, according to Argaam’s data.