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News

29 October 2023 10:28 AM Tasnee registers plunge in 9M-23 results; profits leap 357% in Q3

Riyadh – Mubasher: The net profits after Zakat and tax of National Industrialization Company (Tasnee) dropped by 69.24% to SAR 191.70 million in the first nine months (9M) of 2023 from SAR 623.20 million in 9M-22. Revenues shrank by 11.33% to SAR …

Financial Results

26 October 2023 01:34 PM SAIB posts 13.5% higher net profits in 9M-23

Riyadh – Mubasher: The Saudi Investment Bank (SAIB) registered a net profit worth SAR 1.31 billion in the first nine months (9M) of 2023, higher by 13.54% than SAR 1.15 billion in 9M-22. SAIB reported clients’ deposits standing at SAR 85.45 …

Financial Results

26 October 2023 11:44 AM Bank Albilad achieves SAR 1.76bn profits in 9M-23 initial results

Riyadh – Mubasher: Bank Albilad recorded 14.27% higher net profits at SAR 1.76 billion in the first nine months (9M) of 2023, versus SAR 1.54 billion in 9M-22. The clients’ deposits hit SAR 108.91 billion in 9M-23, up 16.01% year-on-year …

Companies Investments

26 October 2023 08:43 AM SAB generates 43% hike in 9M-23 net profits

Riyadh – Mubasher: Saudi Awwal Bank (SAB) achieved net profits valued at SAR 5.14 billion in the first nine months (9M) of 2023, higher by 43.23% year-on-year (YoY) than SAR 3.59 billion. Earnings per share (EPS) increased to SAR 2.50 in 9M-23 …

Financial Results

25 October 2023 01:44 PM GFH unveils SAR 500m acquisition deal at FII7

Mubasher: GFH Financial Group has inked an agreement to acquire a leading food services and logistics business in Saudi Arabia at an enterprise value of nearly SAR 500 million. The signing took place on the slides of the seventh edition of the …

Mergers and Acquisitions

25 October 2023 10:13 AM Bank Aljazira sees 14.5% lower net profits in 9M-23

Riyadh – Mubasher: The net profits of Bank Aljazira plunged by 14.40% to SAR 740.70 million in the first nine months (9M) of 2023 from SAR 865.30 million in 9M-22. The Saudi lender reported clients’ deposits valued at SAR 90.64 billion in 9M-23, …

Financial Results

25 October 2023 09:24 AM Alinma Bank records higher profits in 9M-23; dividends for Q3 unveiled

Riyadh – Mubasher: Alinma Bank generated 28.48% year-on-year (YoY) higher net profits at SAR 3.51 billion in the first nine months (9M) of 2023, compared to SAR 2.73 billion. Earnings per share (EPS) increased to SAR 1.69 in 9M-23 from SAR 1.33 a …

Financial Results

24 October 2023 03:16 PM SEC secures $3bn financing from 4 banks; deal signed during FII7

Riyadh – Mubasher: Saudi Electricity Company(SEC) inked a USD-denominated international syndicated facility agreement at a total value of $3 billion, equivalent to SAR 11.25 billion, during the proceedings of the global economic event, the Future …

Companies Investments

24 October 2023 01:29 PM Listed entities among FII7 conference’s global strategic partners

Riyadh – Mubasher: A group of 23 strategic partners are supporting the programmes and mission of the Future Investment Initiative (FII) conference in its seventh edition that launched in Riyadh on 24 October 2023, according to a press release. …

Event

24 October 2023 01:04 PM SNB records 9% higher net profits in 9M-23

Riyadh – Mubasher: The Saudi National Bank (SNB) logged net profits amounting to SAR 15.04 billion in the first nine months (9M) of 2023, an annual increase of 8.92% from SAR 13.81 billion. SNB reported clients’ deposits valued at SAR 624.76 …

Financial Results

24 October 2023 09:23 AM Banque Saudi Fransi’s profits surge 27% in 9M-23

Riyadh – Mubasher: The net profits of Banque Saudi Fransi hiked by 27.06% year-on-year (YoY) to SAR 3.39 billion in the first nine months (9M) of 2023 from SAR 2.67 billion. The clients’ deposits amounted to SAR 166.36 billion in 9M-23, marking a …

Banking and Finance

23 October 2023 02:04 PM Leen Alkhair secures SAR 218m loan to establish factory

Riyadh – Mubasher: Leen Alkhair Trading Company signed a loan agreement with the Agricultural Development Fund at a value of SAR 217.76 million on 22 October 2023, according to a bourse filing. The firm will use the financing to establish a …

Companies Investments

23 October 2023 00:31 PM Al Yamamah Steel rolls out SAR 186m agreement

Riyadh – Mubasher: Al Yamamah Steel Industries Company inked a contract with Al Sharif Group & KEC Limited Company to manufacture and supply electrical towers total amount of SAR 185.85 million. The two firms penned the 10-month agreement on 22 …

Companies Investments

23 October 2023 10:31 AM Al Rajhi Bank’s net profits hit SAR 12.45bn in 9M-23

Riyadh – Mubasher: Al Rajhi Bank posted a 2.31% drop in net profit to SAR 12.45 billion during the first nine months (9M) of 2023, compared to SAR 12.74 billion in the year-ago period. The lender reported clients’ deposits standing at SAR 565.71 …

Financial Results

22 October 2023 03:44 PM Saudi Tadawul Group’s profits down in 9M-23 interim results

Riyadh – Mubasher: Saudi Tadawul Group Holding Company registered net profits after Zakat and tax amounting to SAR 298.30 million in the first nine months (9M) of 2023. The generated net profits were lower by 18.81% year-on-year (YoY) than SAR …

Financial Results

22 October 2023 02:18 PM ANB’s net profits leap to SAR 3.13bn in 9M-23

Riyadh – Mubasher: The net profits of Arab National Bank (ANB) soared by 37.28% year-on-year (YoY) to SAR 3.13 billion in the first nine months (9M) of 2023, compared to SAR 2.28 billion. The lender registered clients’ deposits worth SAR 154.22 …

Financial Results

22 October 2023 10:38 AM Riyad Bank’s net profits cross SAR 6bn in 9M-23

Riyadh – Mubasher: Riyad Bank recorded 22.03% year-on-year (YoY) higher net profits at SAR 6.09 billion in the first nine months (9M) of 2023, compared to SAR 4.99 billion. The clients’ deposits hit SAR 254.71 billion in 9M-23, up 7.98% from SAR …

Financial Results

18 October 2023 04:32 PM Knowledge Tower announces CEO resignation; Al Ammar succeeds

Riyadh - Mubasher: Knowledge Tower Trading Company approved the resignation of its CEO, Abdullah Al Anzi, due to personal circumstances. The company accepted the resignation on 5 October 2023, yet it came to effect as of 2 October. Knowledge …

Management Decisions

18 October 2023 09:50 AM Burjeel, Fitness Time open 4 Physiotherapy centres in Saudi Arabia

Mubasher: Burjeel Holdings joined forces with Leejam Sports Company (Fitness Time) and inaugurated its network of advanced physiotherapy, rehabilitation, and wellness centres in Riyadh, according to a press release. The two companies developed …

Companies Investments

17 October 2023 00:35 PM Ladun Investment’s unit awarded SAR 102.5m project award

Riyadh – Mubasher: Built Industrial Company, a subsidiary of Ladun Investment Company, unveiled a contract award with Jazan City for Primary and Downstream Industries at an amount of SAR 102.57 million. The deal covers the design and construction …

Companies Investments

17 October 2023 11:56 AM NMC secures SAR 500m financing from Riyad Bank

Riyadh – Mubasher: National Medical Care Company (NMC) secured two loans at a combined value of SAR 500 million from Riyad Bank on 16 October 2023, according to a bourse filing. The Saudi firm highlighted that the facility deal includes a SAR 200 …

Banking and Finance

9 October 2023 10:51 AM CI affirms GFH's foreign currency ratings; outlook stable

Mubasher: The Capital Intelligence Ratings (CI) has reaffirmed the long- and short-term foreign currency rating of GFH Financial Group as ‘BB’ and ‘B’, respectively, according to a press release. The CI indicated that the ratings remain backed by …

Ratings

8 October 2023 01:36 PM GFH Partners acquires $150m logistics portfolio in Saudi Arabia, UAE

Mubasher: GFH Partners Limited, a DIFC-based subsidiary of GFH Financial Group, has completed the acquisition of a $150 million diversified logistics and industrial portfolio in Saudi Arabia and the UAE as well. The portfolio includes stabilised …

Companies Investments

19 September 2023 09:04 AM Knowledge Economic City, Halwani Bros secure credit facility from Al Rajhi Bank

Riyadh – Mubasher: Knowledge Economic City and Halwani Bros Company secured loans at a combined value of SAR 353 million from Al Rajhi Bank on 17 September 2023, according to bourse disclosures. Knowledge Economic City will use the investment to …

Banking and Finance

14 August 2023 08:47 AM Ma’aden records 87.5% drop in H1-23 net profits

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) achieved net profits after Zakat and tax worth SAR 770.36 million in the first half (H1) of 2023, marking an 87.57% year-on-year (YoY) plunge from SAR 6.20 billion. Revenues declined by …

Financial Results