| Element List | Explanation |
|---|---|
| Announcement Detail | Bank Albilad announces the establishment of a wholly owned subsidiary under the name “Dufaa Finance Company”, as a Saudi closed joint stock company registered in the Kingdom of Saudi Arabia, to engage in consumer financing activities, as part of the Bank’s strategy to enhance its financing activities. |
The company has obtained the license from the Saudi Central Bank to provide consumer financing activities.
The establishment of the company is not expected to have an immediate material financial impact on the Bank’s financial statements.
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