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15 May 09:36 PM

Banking & Insurance

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3 February 2025 05:56 PM BKN301 launches regional office in Qatar to foster MENA’s digital solutions
Mubasher: BKN301 Group, a London-based banking as a service (BaaS) technology provider, has launched an office in Qatar, serving as the company’s regional headquarters (HQ) for the MENA region. This move aligns with BKN301’s development strategy …
Global Economy
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3 February 2025 05:22 PM Riyad Bank registers 16% higher profits in 2024
Riyadh – Mubasher: Riyad Bank generated net profits amounting to SAR 9.32 billion as of 31 December 2024, higher by 15.86% year-on-year (YoY) than SAR 8.04 billion. The earnings per share (EPS) increased to SAR 3.01 last year from SAR 2.58 in …
Financial Results
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3 February 2025 00:16 PM MIS obtains SAR 1.6bn loan from Banque Saudi Fransi
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) secured a SAR 1.64 billion sharia-compliant facility from Banque Saudi Fransi, according to a bourse disclosure. The company will use the proceeds of the facility deal for invoice …
Companies Investments
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2 February 2025 08:26 PM SEC boosts capital structure after settling SAR 5.6bn obligations
Riyadh – Mubasher: The Saudi Electricity Company (SEC)is set to complete the necessary procedures to settle its SAR 5.68 billion obligations to the government, according to a bourse disclosure. The ministerial committee for the Restructuring of …
Banking and Finance
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2 February 2025 06:20 PM Bank Aljazira records SAR 1.2bn net profits in 2024
Riyadh – Mubasher: Bank Aljazira logged net profits standing at SAR 1.23 billion as of 31 December 2024, higher by 20.69% year-on-year (YoY) than SAR 1.02 billion. Earnings per share (EPS) hit SAR 1.01 in 2024, compared to SAR 0.86 a year earlier, …
Financial Results
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2 February 2025 05:53 PM SAB posts 15% higher profits in 2024
Riyadh – Mubasher: Saudi Awwal Bank (SAB) logged net profits valued at SAR 8.07 billion in 2024, up 15.25% year-on-year (YoY) from SAR 7 billion. The clients' deposits hit SAR 267.01 billion at the end of December 2024, an annual rise of 5.35% …
Financial Results
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2 February 2025 03:12 PM Banque Saudi Fransi’s board proposes SAR 1.2bn dividends for H2-24
Riyadh – Mubasher: The board members of Banque Saudi Fransi recommended cash dividends worth SAR 1.24 billion, equivalent to 5% of the capital, for the second half (H2) of 2024. The Saudi lender will disburse a dividend after Zakat worth SAR 0.50 …
Banking and Finance
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2 February 2025 09:27 AM Mashreq Bank’s regional growth motivates over AED 9bn profits in 2024
Dubai – Mubasher: The net profits after tax of Mashreq Bank grew by 4% year-on-year (YoY) to AED 9.01 billion in 2024 from AED 8.67 billion, according to the financial results. Total operating income witnessed an annual increase of 24% to AED …
Banking and Finance
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30 January 2025 03:47 PM Debt crowdfunding platform Lendo raises $690m facility led by J.P. Morgan
Riyadh – Mubasher: Debt crowdfunding platform in Saudi Arabia Lendo has secured a $690 million warehouse facility, equivalent to SAR 2.60 billion, led by J.P. Morgan. The transaction is supported by Fintech Saudi, underscoring the growth in Saudi …
Companies Investments
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30 January 2025 07:44 AM Alinma Bank’s profits surpass SAR 5.8bn in 2024; dividends for Q4 proposed
Riyadh – Mubasher: Alinma Bank logged net profits totalling SAR 5.83 billion in 2024, higher by 20.51% year-on-year (YoY) than SAR 4.83 billion. The clients' deposits stood at SAR 210.54 billion last year, an annual growth of 12.05% from SAR …
Financial Results
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30 January 2025 07:34 AM Banque Saudi Fransi’s net profits up to SAR 4.5bn in 2024
Riyadh – Mubasher: Banque Saudi Fransi registered an annual rise of 7.60% in net profit to SAR 4.54 billion in 2024, compared to SAR 4.22 billion. The bank reported clients' deposits amounting to SAR 185.11 billion at the end of December 2024, up …
Banking and Finance
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30 January 2025 07:22 AM SNB announces 10% of capital as dividends for H2-24
Riyadh – Mubasher: The Saudi National Bank (SNB) announced the board’s decision to disburse SAR 6 billion, representing 10% of the capital, as cash dividends for the second half (H2) of 2024. SNB will pay out a dividend after Zakat worth SAR 1 per …
Banking and Finance
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30 January 2025 07:04 AM Bupa Arabia logs SAR 1.1bn net profits in 2024
Riyadh – Mubasher: The net profits after Zakat attributable to the shareholders of Bupa Arabia for Cooperative Insurance Company hit SAR 1.16 billion in 2024, an annual rise of 24.02% from SAR 940.16 million. Insurance revenues hit SAR 18.10 …
Banking and Finance
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30 January 2025 06:52 AM Paymob, Woo forge partnership to boost e-commerce in MENA
Cairo – Mubasher: Paymob has entered a landmark strategic partnership with Woo, the open-source e-commerce platform, to reshape the e-commerce landscape in the MENA region.   Paymob became Woo’s first preferred partner to launch in the region, …
Companies Investments
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29 January 2025 07:07 PM Al Rajhi Bank unveils SAR 19.7bn profits in 2024, dividends for H2-24
Riyadh – Mubasher: The net profits of Al Rajhi Bank amounted to SAR 19.72 billion in 2024, an annual rise of 18.66% from SAR 16.62 billion. The clients' deposits hit SAR 628.23 billion last year, marking a 9.62% growth from SAR 573.10 billion in …
Cash Dividends
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29 January 2025 01:57 PM SNB records over SAR 21bn profits in 2024; assets jump to SAR 1.1trn
Riyadh – Mubasher: The Saudi National Bank (SNB) logged net profits amounting to SAR 21.19 billion in 2024, an annual rise of 5.91% from SAR 20.01 billion. The lender posted clients' deposits valued at SAR 579.76 billion as of 31 December 2024, …
Banking and Finance
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29 January 2025 00:18 PM Emirates NBD’s profits up 7% in 2024; financial growth in Saudi Arabia remarked
Dubai – Mubasher: Emirates NBD generated AED 23 billion in net profit after tax in 2024, higher by 7% year-on-year (YoY) than AED 21.52 billion. Total income stood at AED 44.13 billion last year, up 3% from AED 43.02 billion as of 31 December …
Banking and Finance
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29 January 2025 11:42 AM SAIB sees 11% higher net profits in 2024
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) recorded an 11.07% year-on-year (YoY) hike in net profit to SAR 1.95 billion during 2024, compared to SAR 1.76 billion. Clients' deposits hit SAR 94.01 billion as of 31 December 2024, up 12.95% …
Banking and Finance
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28 January 2025 11:14 AM NEOM secures $3bn financing from Italy’s SACE
Riyadh – Mubasher: NEOM has secured $3 billion under a long-term multicurrency untied facility with Italy’s SACE, according to a press release. The export credit agency (ECA) financing transaction marks NEOM's first corporate ECA financing and the …
Global Economy
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22 January 2025 04:55 PM ADIB unveils 1st personal finance management tool in region
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has launched the first personal finance management tool, the ADIB Money Management Tracker, in the region to offer more control and insight over the customers’ financial activities. The …
Banking and Finance
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20 January 2025 05:48 PM Meyar expands business activity via loan from Riyadh Bank
Riyadh – Mubasher: Meyar Company has obtained financing valued at SAR 5.49 million from Riyadh Bank to expand its business and develop production lines and supply chains to increase efficiency. The Saudi firm secured the loan, on 19 January 2025, …
Companies Investments
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20 January 2025 05:28 PM Digital Research secures SAR 10m facility deal with Alinma Bank
Riyadh – Mubasher: Digital Research Company (DRC)obtained a SAR 10 million loan from Alinma Bank on 20 January 2025, according to a bourse disclosure. The credit facility, which holds a tenor of 12 months, will be used for project financing and …
Banking and Finance
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19 January 2025 07:27 PM Cenomi Centers partners with Visa to enhance consumer payment solutions
Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) entered into a strategic partnership with Visa to transform Cenomi’s offering and enhance customer experiences, according to a press release. The Saudi company will leverage Visa’s …
Companies Investments
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15 January 2025 08:25 PM Google Pay service to launch in Saudi Arabia upon agreement with SAMA
Riyadh – Mubasher: The Saudi Central Bank (SAMA) has entered into an agreement with Google to bring Google Pay to Saudi Arabia through the national payment system mada in 2025, according to an official statement. The new payment service will …
Companies Investments
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14 January 2025 04:44 PM Waja obtains SAR 16m funding from Alinma Bank
Riyadh – Mubasher: Waja Company secured a Sharia-compliant financing agreement worth SAR 16 million from Alinma Bank, according to a bourse disclosure. The company obtained the one-year funding on 30 December 2024 to finance letters of credit as …
Companies Investments