Riyadh – Mubasher: The board of directors of Alawwal Bank recommended to the General Assembly of Shareholders that no dividends will be distributed for the fiscal year 2016, said a bourse filling.

The recommendation aims to support the Bank's financial position and future plans.

The lender suffered losses of SAR 249.34 million for the fourth quarter of 2016 against profits of SAR 451.32 million for the same period of the previous year.