Riyadh – Mubasher: Bank Albilad plans to buy 5 million of its ordinary shares to be allocated as treasury shares within the employee shares programme.
The lender’s board granted its approval for the transaction, which will be self-funded, on 12 December 2022, according to a bourse disclosure.
Out of the total class of purchased shares, the percentage of the treasury shares at Bank Albilad currently accounts for 0.36%.
In the January-September 2022 period, the bank’s net profits hiked by 22.52% to SAR 1.54 billion, compared to SAR 1.25 billion in the first nine months (9M) of 2021.
Earnings per share (EPS) stood at SAR 1.55 in 9M-22, higher than SAR 1.26 in 9M-21.
Last December, the board of Bank Albilad suggested cash dividends after Zakat worth SAR 500 million to be distributed over 1 billion eligible shares for 2022.
