Retail
Banking
Bank Albilad - Retail Banking is committed to provide end-to-end financial services that meets its client’s needs & expectation with best customer experience. Accordingly, Retail Banking strategy was developed to ensure creating value proposition and increasing market-share by focusing on five key themes:
- Product portfolio diversification.
- Enhanced customer base and penetration.
- Enhanced customer experience.
- Accelerate digital transformation.
- Expansion through affiliation.
In 2022 Bank Albilad invested in optimizing and revamping our network of branches and creating a seamless customer experience. Our foundation for this was already strong, with
Bank Albilad owning the 5th largest branch network in Saudi Arabia.
We have seen particularly strong growth in the Bank Albilad Mortgage Market Share, building on the sustained and steady growth that we have seen in recent years.
Our market share increased in 2022. This growth has been delivered through close partnership working with government initiatives to further support the Saudi housing market, the Bank’s partnerships with the Ministry of Municipal & Rural Affairs & Housing and the government’s Real Estate Development Fund (REDF) continued to help widen access to affordable home purchase solutions in 2022.
This work includes products such as subsidized profit products for ready units, self-construction, off-Plan, land and self-construction, and equity release. This year, Bank Albilad and the Real Estate Development Fund signed an agreement of “Housing support packages” aimed at providing
innovative financing solutions by the bank to the beneficiaries of the “Sakani” program and the Real Estate Development Fund.
These strategic partnerships are a key strand of our approach, working with diverse partners from across the public sector to deliver value and growth within the wider Saudi Arabian economy. Aligning Retail Banking strategy with the Saudi Vision 2030.
As we move forward into 2023, we will continue to develop and deploy innovative new products and services. We will also maintain our focuson driving further improvements in our service quality and customer experience, strengthen our loyalty programs, focus on the affluent segment, and accelerate our digital transformation.