Bank Albilad
Bank Albilad is a Saudi bank listed on the Saudi Exchange "Saudi Tadawul" as a public joint stock company. It is one of the newly established banking institutions in the Kingdom of Saudi Arabia, having been established in 2004.
Bank Albilad was listed on "Saudi Tadawul" on April 30, 2005. Its shares are traded on the Main Market under the Banks sector with the symbol (1140), name (Albilad), and ISIN (SA000A0D9HK3). It offers integrated banking, financing, and investment services through a variety of Sharia-compliant instruments.
The bank’s headquarters are located in the Saudi capital, Riyadh, and it operates under the supervision of the General Department of Banking Control at the Saudi Central Bank. In 2022, the bank’s capital was increased from SAR7.5 billion to SAR10 billion.
Bank Albilad branches
Bank Albilad has 110 branches across Saudi Arabia, through which it provides financial services and transactions across four main sectors: Retail banking, corporate banking, investment and brokerage services, and treasury. According to 2020 data, the retail banking sector generated the highest revenues, accounting for 61.3 percent.
Bank Albilad services
Bank Albilad’s financial transactions and banking services are fully compliant with Sharia provisions. The bank has a Sharia board that issues related decisions, and their implementation is overseen by the bank’s Sharia Committee.
In 2021, the bank inaugurated a digital branch at Riyadh Front, east of the capital. The branch offers services such as account opening and activation, data update, and card issuance. It also facilitates financing product applications and execution, credit card and prepaid card requests, and features an e-shopping terminal and a virtual reality service for real estate financing products.
Bank Albilad subsidiaries
Bank Albilad has two 100 percent-owned subsidiaries, both operating within Saudi Arabia. These subsidiaries are: Albilad Investment Company (Albilad Capital), the bank’s investment arm, which is active in investment and asset management; and Albilad Real Estate Limited Company, which specializes in the buying, selling, leasing, renting, and mortgaging of real estate on behalf of the bank.
In line with technological advancements in its banking operations, Bank Albilad launched its Innovation Center in 2022. This center represents a strategic step toward promoting innovation, financial technology, and entrepreneurship by fostering an interconnected environment that nurtures digital ideas and startup projects. It targets entrepreneurs and digital innovators, with the aim of establishing and developing fintech startups and providing enablers, technologies, and creative solutions through a range of specialized services and programs.
Bank Albilad founders
The list of substantial shareholders of Bank Albilad included eight key exchange companies and institutions in Saudi Arabia, namely Mohammed and Abdullah Al Subeaei Exchange Company; the heirs of Abdulaziz Bin Suleiman Al-Muqairin; Alrajhi Commercial Exchange Corporation; Alrajhi Trading Corporation; Mohammed Saleh Sairafi Establishment; Abdulmohsen Saleh Al-Omari Establishment; Youssef Abdulwahab Naematallah Exchange Company, and Ali Hazzaa & Partners General Trading and Exchange Company. Upon its establishment, the bank’s capital amounted to SAR3 billion. The shareholders contributed SAR1.5 billion, while the remaining SAR1.5 billion was offered for public subscription.