Bank Albilad completes buyback of 5M treasury shares for SAR 210.7M

Bank Albilad headquarters

Bank Albilad completed, on March 13, repurchasing five million shares for its employee stock program.

The bank repurchased the shares at SAR 42.14 each on average, totaling SAR 210.7 million, according to a statement to Tadawul.

In May 2023, Albilad’s shareholders approved the buyback of five million shares maximum as treasury shares for the Employee Shares Incentive Program (ESIP), Argaam earlier reported.

The bank will retain the repurchased shares for a maximum of 10 years from the date of approval by the extraordinary general meeting (EGM).