Bank Albilad’s Q2 2020 results positive, eyes higher market share: CEO

Bank Albilad’s Q2 2020 results are “positive” compared to the last quarter, CEO Abdulaziz Al Onaiza told Bloomberg.

“Things are looking very good”, the CEO said, adding the Tadawul-listed bank took some extra cautions during the COVID-19 period.

He further stated that there is “not much to worry about as far as provision was concerned”.

On the other hand, the bank is seeking to increase market share and has already increased share in the SME and mortgage business.

The CEO expected various government initiatives and project finance to help the bank maintain growth levels in the coming quarters.

On the possibility of a merger, Al Onaiza ruled out any talks on the issue, stating that there is enough business activity for everyone as Saudi Arabia is still underbanked.