Bank Al Bilad achieved net profits amounting to 2,369 million Saudi Riyals for the year 2023, an increase by 14% compared to the last year. Total assets of the Bank amounted to 143.1 billion Saudi Riyals as at December 2023 compared to 129.5 billion Saudi Riyals at the end of the last year, with an increase of 10.5%. In addition, the total shareholders’ equity amounted to 15.3 billion Saudi Riyals, compared to 13.4 billion Saudi Riyals for the last year, with an increase of 14%.

The Bank stated that investments increased to 22.1 billion Saudi Riyals as of the end of 31 of December 2023, compared to 20.6  billion Saudi Riyals for last year, with an increase of 7%, and net financing portfolio witnessed an increase to reach 102.1 billion Saudi Riyals compared to 91.2 billion Saudi Riyals for the last year, with an increase of 12%, while customer deposits amounted 112.8  billion Saudi Riyals, compared to 94.8  billion Saudi Riyals at the end of last year, with an increase of 19%.

Commenting on the aforesaid results, Mr. Nasser bin Mohammed Al-Subaie, the Chairman of the Board of Directors of Bank Al Bilad, stated: “The net income, for the year 2023, which exceeded 2.36 billion Saudi Riyals, reflects the accelerated growth in the bank’s business, which reflects the efficiency of our operations and transactions and our strategy by offering many latest and innovative banking products.

Mr. Al-Subaie explained that these results reflect the stability and financial position of the Bank and its aspiration towards the future, and added “We are proud of our competitive abilities and capabilities and our integrated plan on which we are constantly working, aiming to achieve a sustainable future for all. We are proud as well of the continued success of the exerted efforts of the executive management team, who is working hard to achieve excellence in all banking fields. In addition, we are confident that the period to come will witness distinguished performance and greater competitive ability strengthening Bank Al Bilad’s position for its customers, shareholders and all investors. We, also, thank the executive management team and Al Bilad’s ambassadors, of both genders, for their continued support and dedication to work.”

The Chairman of the Board of Directors of Bank Al Bilad blessed the inauguration of the first new generation of Al Bilad’s model branches in Riyadh, through which the bank is looking forward to develop its own customers’ banking experience and keep pace with the latest global technical developments, as a nucleus of a new series of new generation of branches that will extend to cover the Bank’s existence map in all regions of the Kingdom where the new generation of branches are smart ones with a high technology contributing to keep the environment and reduce carbon emissions  among clean and renewable energy sources, while reflecting the Bank’s own trending aiming to better service through modern design and technology.

Mr. Al-Subaie pointed out the most significant and prominent innovative services and products that the Bank offered to its own customers, the most prominent of which is the Tamkeen Plus Credit Card in addition to the multi-currency Medad Card and the real estate financing packages offered by the Bank as innovative solutions to beneficiaries with an aim to provide the necessary financing for enabling the family to purchase suitable housing facilities.

The bank has kept its own leadership in the field of digital banking and innovation being the first bank to enable the open banking services according to the regulatory framework issued by the Saudi Central Bank, as the Bank believes in its own role to reinforce the financial inclusion plans that is consistent with the strategic objectives out of the Kingdom’s Vision 2030.

On the other hand, the Bank’s social responsibility initiatives and programs exceeded 86 initiatives and program. Also, Bank Al Bilad donated an amount of 10 million Saudi Riyals to the “Joodeskan” subscription campaign in order to provide housing for more than 5,250 of the neediest families, which contributed to the achieve the initiative with a record that is new to The Guinness World Records being as the largest electronic charity campaign which achieves its target in a single month. With regard to the volunteer work, Al Bilad Volunteer Team distributed 9,000 Ramadan baskets in conjunction with the coming of the holy month of Ramadan, as the Ramadan baskets provide supplies of the month to support the needy families, while the number of volunteers reached more than 724 volunteers of both genders whose volunteer hours amounted more than 2,206 hours until the end of 2023, which embodies the spirit of giving and social solidarity. The Bank organized, as well, the Al Bilad Hackathon for the Islamic Banking at Al Bilad Innovation Center (Horizon) to reinforce its pioneering role in supporting the Islamic financial technology.

With regard to stimulating savings, the Bank has developed many saving & investment accounts and innovative programs that comply with the provisions and controls of the Sharia Committee of Bank Al Bilad, that can be used through the application of Al Bilad with no need to visit the branch, in addition to launching the “Zod” saving program in partnership with the Social Development Bank. This comes among the Bank’s contributions to raise the level of financial acquaintance and reinforcement of the saving culture.

It is worth noting that Bank Al Bilad has got many national and international awards, such as the best digital bank award in the Kingdom of Saudi Arabia for the year 2023 provided by the “Future Bank Summit”, in addition to being the most valuable among the Saudi brands for the year 2023 according to the “Kantar Brandz” classification, and one of the most important brands in the private sector in the field of social responsibility according to the “Forbes” classification, and obtaining two ISO certificates in the highest standards’ efficiency for the customers’ satisfaction provided by the “BQSR” company.