Bank Albilad sees record performance across all segments in 2022: CEO

CEO Abdulaziz Al-Onaizan

Bank Albilad achieved record performance across all its segments in 2022, while assets grew by 17%, said CEO Abdulaziz Al-Onaizan.

The bank's growth was balanced in all segments, from retail, corporate, treasury and Enjaz Payments Services Co., he told Al-Arabiya TV.

During 2022, the bank invested in technology, human resources and various segments, in line with its strategy for future expansion.

Bank Albilad also launched a number of new financial products and services to keep pace with the rise in interest rates, the CEO said.

The bank's real estate financing declined slightly last year, with Q4 2022 witnessing a fall of about 15%.

Although real estate financing witnessed some decline, it will continue to play a major role in the financing process, especially as the Kingdom is still moving towards financial expansion, given the need and demand in the market, said Al-Onaizan.

With the rise in interest rates and changes in the global economy, the CEO said there will be challenges in 2023. However, the bank is optimistic about its growth prospects in all segments in terms of the number of customers or the diversification of the lending or investment portfolio, which contributes to the continued achievement of strong results.

Meanwhile, Bank Albilad's liquidity witnessed some pressure during 2022, but returned to normal. The loans-to-deposits ratio remains good and banks can still expand lending.

The CEO further stated that the bank's deposits-to-loans ratio reached 80% by the end of 2022, adding that the bank witnessed strong growth in deposits by 17%. He also indicated that the bank is set to offer investment and savings products, which will contribute to expanding the deposit base.

The bank's investments are in an excellent position, with its investment portfolio rising 20% in 2022. Moreover, there are investment opportunities that the bank entered into and is expected to grow in 2023.

The changes taking place in global markets and the market of sukuk, bonds and funds provide investment opportunities for commercial banks, the CEO said.

Bank Albilad reported a net profit of SAR 2.08 billion for 2022, a rise of 23%, compared to SAR 1.68 billion in 2021, according to Argaam's data.