Bank Albilad H1 results reflect business growth, efficiency: Chairman

Bank Albilad’s financial results for the first half of 2023 reflected the growth in the bank's business and the efficiency of its operations and strategies as it produces many products, Chairman Nasser Al Subeaei said.

Al Subeaei explained in a statement obtained by Argaam that the results of H1 2023 reflect the bank's stability and financial position, as well as its commitment to improve its competitiveness in the future.

The results also reflect the bank’s ongoing integrated plan, which aims to achieve a sustainable future, he added.

Al Subeaei asserted that Bank Albilad’s management is confident that the coming period will witness greater performance and competitiveness, thus enhancing the bank’s position among its customers, shareholders, and all investors.

According to data compiled by Argaam, the bank reported a 14% leap in H1 2023 net profit to SAR 1.14 billion from SAR 1 billion in the prior-year period. Q2 2023 net profit stood at SAR 585.9 million.