It has provided the foundation for Bank Albilad to grow into what it is today.

As a new entrant into a mature finance sector, our first priority was to build our brand, create a customer base, and develop a wide portfolio of financial products that reflected the needs of businesses and individuals within the Kingdom. Our growth trajectory has been achieved on three core pillars, - the strength of our team, the clarity of our strategy, and the quality of our partnerships.

Firstly, we have always been clear, that our successes as a business are the result of the dedication and knowledge of our expert team. They are relentless in their desire to create banking products and experiences that place the customer at the heart of everything that we do. In 2022, we continued to invest in that team, to ensure that we have the skills that we need to operate with agility in a rapidly changing sector. In an increasingly competitive labour market, this has included looking at new ways to support training and development and to ensure that key staff are retained across the business.

Secondly, we have maintained a clear focus on our strategy.

From our inception, our approach has been to adopt a long-term view that generates returns that are sustainable over a longer period. From developing new products that are Sharia-compliant to innovating in digital delivery, all of our activities are based on a long-term plan that aligns with the broader vision that is set out in Vision 2030.

Finally, our successes in the last year have increasingly resulted from the strong partnerships that we have developed with key strategic areas of government and with businesses in key growth sectors, such as sports and entertainment. We are partnering with key ministries on initiatives. These partnerships will be critical to our future growth.

As we move forward into 2023, our team, strategy, and partnerships provide a solid foundation for sustainable growth that will deliver value for shareholders and customers and benefit the wider Saudi Arabian economy.