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About Us
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Year in Review
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Awards & Honors 2023
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Introduction: Progress Through Innovation
Chairman’s Statement

Chairman’s Statement
CEO’s Statement

CEO’s Statement
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Business Model
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Strategy-Led Innovation
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Our Contribution
Financial Review

Financial Review
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Investment Opportunity
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Market Review
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Business Review
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Retail Banking
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Treasury
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Corporate Banking
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Subsidiaries
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Albilad Capital
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Digital Transformation And Innovation
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Information Security
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Shared Services
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Technology Division
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Our People
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Sustainability
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Corporate Social Responsibility
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Board of Directors
Executive Management

Executive
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Governance
Financial Statement

Financial Statement

Conclusion

Conclusion

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The Bank net income before Zakat for the year 2023 of SAR 2,641 million compared to a net income of SAR 2,321 million in 2022, an increase of 14%.

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financial review
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Financial performance

The annual financial results of Bank Albilad showed for the year ended 31-12-2023, a continuous growth of profits

Further, the Bank net income before Zakat for the year 2023 of SAR 2,641 million compared to a net income of SAR 2,321 million in 2022, an increase of 14%.

This growth was mainly due to the increase of total operating income by 2%, as a result of the net income of investment and financing assets increase by 6%, to reach SAR 4,110 million.The total operating expenses decreased by 7% to reach SAR 2,662 million, as a result of the decrease in impairment charge for expected credit losses and other general and administrative expenses.

Bank net income of

SAR0,0 MN 

after Zakat,

AN INCREASE OF

0 %

The annual financial results

of Bank Albilad

showed for the year 2023, a

continuous growth of profits

Assets

By the end of the year 2023, the bank’s assets amounted to SAR 143,106 million, compared to SAR 129,543 million in the 2022,

i.e. an increase of SAR 13,563 million or 10.5% compared to last year. The increase

in financial assets is due to the increase in the bank’s financing and investments.

Net Financing and Investments

The net financing portfolio increased by SAR 10,901 million or 12% to reach SAR 102,080 million at the end of December 2023.

Investments portfolio grew to SAR 22,080 million,

increased by SAR 1,480 million or an increase of 7% compared to last year.

Liabilities

Deposits increased to reach SAR 112,831 million, an increase of SAR 17,988 million or 19%, compared to last year.

Total liabilities increased to reach SAR 127,848 million,

an increase of SAR 11,703 million or 10%, compared to last year.

Owners’ Equity

Total equity recorded an increase of SAR 1,859 million, or 14% to reach SAR 15,258 million by the end of December 2023, compared to SAR 13,399 million by the end of December 2022.

This is mainly attributed to the increase of the bank’s net income. Issued common shares totalled 1,000 million shares.

Capital adequacy ratio of 17.76% by the end of 2023. The bank’s return on average assets reached 1.74% after zakat deduction, whereas return on average equity reached 16.53% and earnings per share amounted to SAR 2.38.

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0.0M

The Enjaz banking application download

0%

of all Enjaz transactions were carried out through digital channels

0%

of all Enjaz transactions were carried out through digital channels

0%

of all Enjaz transactions were carried out through digital channels

Composition of Assets
(SAR Million)

Net Income to the Bank’s
Shareholders In the
Past Five Years
(SAR Million)

Operating Income vs Operating
Expenses In The Past
Five Years
(SAR Million)

Total Assets In The Past
Five Years
(SAR Million)

Composition of Equity
(SAR Million)

Total Equity In The Past
Five Years
(SAR Million)

Investment & Financing In
The Past Five Years
(SAR Million)

Total Liabilities & Customer’
Deposits In The Past
Five Years
(SAR Million)

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2023

Summary review of Bank Albilad’s results of operations and financial position

Most important
items in the
consolidated statement
of financial position

Download Now

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

SAR0.0BN

totalling

0%

our performance in 2023 shows lending balance growth of

SAR0.0BN

totalling

2023

Geographical analysis of the Bank total operating income and its subsidiaries

Analysis of the
total operating income
by region:

Bank Albilad
branches

The bank was able to achieve positive financial and operational results and growth during the year 2023, as it achieved growth rates that exceeded the goals set,

as a result to the bank’s policies and business strategies that were implemented during the year.

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    2019
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    2020
  • 0
    2021
  • 0
    2022
  • 0
    2023
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Financing and Issued Sukuks

On August 30 ,2016, the Bank issued 2,000 Tier 2 Sukuk Certificates (Sukuk) of SR 1 million each, and payable quarterly in arrears on February 28, May 30, August 30, November 30 each year until August 30 ,2026, on which date the Sukuk will be redeemed.

During 2021, the Bank exercised the call option on its previous sukuk and recalled Sukuk amounting to SAR 1,061 million. These arrangements were approved by the regulatory authorities and the Board of Directors of the Bank.

On April 15 ,2021, the Bank issued 3,000 Tier 2 Sukuk Certificates (Sukuk) of SR 1 million each, payable quarterly each year until April 2031 ,15.

The Bank has a call option that can be exercised on or after April 15 ,2026, as per the terms mentioned in the related offering circular. The expected profit distribution on the sukuk is the base rate for three months in addition to a profit margin of 1.65 %. The Bank has not defaulted on any of payments (profit / principal) due during the year.

The offer also included an option for the holders of the SAR 2 billion Sukuk (due 2026) that were previously issued by the Bank (the “Previous Sukuk”) to exchange their investment in the Previous Sukuk with an investment in the Tier 2 Sukuk, subject to the terms and conditions of the Sukuk. Certain Sukuk holders with carrying value of SR 939 million have exercised their exchange option and subscribed to the investment in the Tier 2 Sukuk.

Earnings per Share

Basic and diluted earnings per share for the years ended December 31 ,2023 and 2022 is calculated by dividing the net income for the year attributable to the equity holders by the weighted average number of outstanding shares 2023:995 million shares (2022 :995 million shares - restated) after accounting for treasury shares.

End of service benefits

The bank provides end-of-service benefits to its employees in accordance with Saudi labour law, and this liability is included in the consolidated financial position statement along with other obligations.

Applied accounting standards:

These consolidated financial statements of the Group as at and for the year ended 31 December 2023 and 31 December 2022, respectively, were prepared in compliance with the International Financial Reporting Standards (“IFRS”) respectively, and other standards and pronouncements issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”) and the Banking Control Law and the Regulations for Companies in the Kingdom of Saudi Arabia.

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