By Amr Adel
Manama – Mubasher: Saudi Arabia’s Bank Albilad is planning to open 12 to 15 new branches across the kingdom during 2016, said CEO Khaled Al Jasser.
The statement came on the sidelines of the top executive’s participation at the World Islamic Banking Conference currently held in Bahrain.
Accordingly, the bank’s branches network will rise to 135 from current 120 by the end of next year, stated the CEO.
He added that Albilad is not currently considering overseas expansions, stressing that focus is currently in local market amid strong growth potential in the banking sector.
Al Jasser also indicated that operating expenses will continue to weigh on the bank’s profits this year due to ongoing expansions.
Translated by Sayed Abdel Rahman
