Bank Albilad is an organization genuinely committed to its values of initiative and innovation, care and partnership, and trust and accountability in delivering innovative Islamic banking services. These values inspire us to support the long-term sustainable economic programs of the Kingdom as embodied in Vision 2030.

Overall, I am very pleased with our achievements in 2022, which requires thanks to the members of the Board of Directors and members of the Board of Directors for the previous session, and I commend our management team and all our mbassadors for their dedication and hard work.

OUTSTANDING FINANCIAL PERFORMANCE

This year, we witnessed a remarkable development in all our activities, and our financial statements recorded significant growth in all indicators, whether in terms of financing, deposits, operating income or net profits, as the results of the year 2022 showed an increase in the bank’s net income to exceed SAR 2 billion, an increase of 23% compared to last year, recording an unprecedented achievement in the history of our journey, when it took 15 years from the date of the bank’s inception in 2004 to achieve more than SAR 1 billion in Net income in 2019, we were able to reach SAR 2 Billion in a short span of three years. Moreover, the Bank increased its capital to SAR 10 billion to enhance capital adequacy and further invest in operations. However, I am proud of the difference that the Bank continues to make for the people, businesses, and communities that we serve. This is because making a difference is central to our mission.

CREATE A UNIQUE CUSTOMER EXPERIENCE

Supporting these numbers are our pioneering innovations in the digital space, competitive value propositions and unparalleled customer experience, which won the Bank several national and international awards, in the process. Our commitment to innovation was best exemplified through the launch of the Horizon Innovation Centre to promote partnerships and

Our values inspire us to support the long-term sustainable economic programs of the Kingdom as embodied in Vision 2030.

Our strong brand reputation, consistent track record of growth, our capabilities and culture, and our commitment to sustainability allow us to look to the future with confidence and continue building ‘Solid Foundations for a Sustainable Future’.

entrepreneurship in the fintech space which should lead to the development of future oriented banking services that are seamless and innovative.

One of the highlights of this year was the establishment of Enjaz Payment Services Company as a wholly owned subsidiary of the Bank, licensed by the Saudi Central Bank as a major electronic financial institution. The company is responsible for all payments and remittance activities that were managed through the Bank’s business division. This establishment of Enjaz company comes in line with the Bank’s business strategy to leverage its potential as a FinTech player in line with the objectives of Vision 2030.

SUSTAINABILITY INITIATIVES

We remain very ambitious as a Bank, but we know that to deliver our mission for future generations we must operate as a responsible business, too. We sustained our Corporate Social Responsibility (CSR) initiatives through our Corporate Social Responsibility Program #Albilad_ Mubadarah which have exceeded more than 70 programs and initiatives. We made donations through the Ihsan platform for charitable causes. Meanwhile, we are also installing universal access facilities in our branches for people with disabilities whenever possible. The Bank also hosted the Joint Operations Center to combat financial fraud under the sponsorship of the Saudi Central Bank. All of these exemplify our spirit of giving and solidarity with the community for the greater good.

We continue to make major contributions to delivering Vision 2030, in particular, the Financial Sector Development Program initiatives in the ield of savings and financial inclusion, home ownership, financing SMEs and supporting the private sector in general.

Our strong brand reputation, consistent track record of growth, our capabilities and culture, and our commitment to sustainability allow us to look to the future with confidence and continue building ‘Solid Foundations for a Sustainable Future’.

OUR THANKS AND APPRECIATION

In closing, I extend on behalf of the members of the Board of Directors and the ambassadors of Bank Albilad, my sincerest gratitude to the Custodian of the Two Holy Mosques and his faithful Crown Prince – may Allah protect them – for their support, guidance, and leadership to the financial and banking sector, and to all sectors for the growth and prosperity of the Kingdom and its citizens and residents.

I also express my appreciation and gratitude to the Ministry of Finance, the Ministry of Commerce, the Saudi Central Bank, and the Capital Market Authority, for their support to the financial and banking sector in the Kingdom through their plans, programs, regulations, and insights ensuring its stability.

Finally, I extend my thanks and appreciation to our customers, investors, partners and shareholders for their trust and confidence throughout these years, to the executive management and ambassadors of Bank Albilad. I look forward to our continued progress towards achieving our future goals.