Business & Money | Sunday 8 March, 2015 3:58 pm |

H.E Mr. Khaled Bin Sulaiman Al-Jasser, CEO of Albilad Bank has inaugurated the initiation of bank’s business at Al-Mubarraz Branch Headquarters in Al- Ahsa Province – Eastern District and Al-Qunfudah Branch - Makkah Al-Mukarramah District in the presence of H.E Mr. Fadha Bin Bain Al-Baqmi, Mayor of Al-Qunfudah, a group of the bank’s clients and a number of executive directors.

In a speech delivered at the ceremony, the CEO of Bank Albilad has talked about the bank’s journey since establishment and the achievements realized during the past period. He pointed out the increase in the number of clients, the rapidly increasing size of clients’ deposits which amounted to over SR 36 billion at the end of the 4th quarter of 2014, the funding portfolio which amounted to over SR 28 billion and the bank’s assets which amounted to over SR 45 billion, achieving an increase of 18.5% over the last year and resulting in the growth of operating and net profits during the term from the first to last quarter of 2014, as well as the growth of operations in other main activities. He stated that since 2010 Bank Albilad has been achieving steady profits a year after the other with SR 864 million profits achieved in 2014 resulting in 18.5% increase from the last year.

Mr. Al-Jasser added that Bank Albilad continues (with the will of Allah) the process of realizing a rapid growth at rates breaking those of the market’s, and will continue such achievements, bearing in mind meeting the desires of Albilad’s shareholders, clients, essential partners and employees, for more success and sustainable growth.

Mr. Al-Jasser explained that the number of products and services that Bank Albilad provides to clients have increased with an outstanding growth in the network of its branches, where it owns 117 branches for men and 42 sections for women as well as 938 ATMs. The bank also makes its electronic channels available to clients including Albilad Net, Albilad Mobile and Albilad Phone Banking.

Mr. Al-Jasser concluded his speech by stating that Bank Albilad has contributed to the support of the national economy process by financing many infra-structure projects in many fields such as energy, education, water, manufacturing, commerce, housing etc. The bank also contributed in financing tens of projects and thousands of citizens’ home constructions, ownership and other transactions. He stated that such achievements shall contribute “with Allah’s will” to the bank’s growth through the coming periods.