Albilad Bank plans to expand funding portfolio, says CEO

Albilad Bank, Saudi Arabia’s smallest bank in terms of assets, is looking to expand its funding portfolio, said Khalid bin Sulaiman Al-Jasser, the bank’s chief executive.

The bank’s increased capital gives it greater financing abilities, Al-Jasser was quoted by Al Arabiya TV as saying. Its finance portfolio grew by 21 percent in general, while its corporate finance portfolio grew by 30 percent, he said. 

Al-Jasser pointed out that the bank’s loan-to-deposit ratio, which stands at 77 percent, has room to grow to higher levels.

The bank's financial stability has also encouraged its management team to approve its recent issuance of cash dividends.  

Albilad on Sunday reported a profit of SAR 248.9 million for the fourth quarter of 2014, a 16 percent growth rate compared to the same period of 2013, according to data available on Argaam. 

The bank's board of directors recently recommended a 25 percent capital increase to reach SAR 5 billion.

The bank also issued cash dividends for the first time since 2005. 

Albilad Bank, Saudi Arabia’s smallest bank in terms of assets, is looking to expand its funding portfolio.

Al-Jasser pointed out that the bank’s loan-to-deposit ratio, which stands at 77 percent, has room to grow to higher levels.

Albilad on Sunday reported a profit of SAR 248.9 million for the fourth quarter of 2014, a 16 percent growth rate compared to the same period of 2013, according to data available on Argaam.

The bank's board of directors recently recommended a 25 percent capital increase to reach SAR 5 billion. The bank also issued cash dividends for the first time since 2005.