Bank Albilad completes 10M share buyback for SAR 259.97M

Bank Albilad said the 10 million shares represent nearly 0.67% of its total 1.5 billion outstanding shares.

Bank Albilad completed, on March 5, the buyback of 10 million shares to allocate them to the employee stock incentive program (ESIP).

In a statement to Tadawul, the lender said the value of repurchased shares reached SAR 259.97 million, at an average of SAR 25.99 per share.

Last October, Bank Albilad shareholders approved the board’s recommendation to repurchase up to 10 million shares to be allocated to ESIP.

The 10 million shares represent nearly 0.67% of the bank’s total 1.5 billion outstanding shares.