Alawwal Bank

Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday announced that its board of directors decided to appoint Lubna Sulaiman Olayan as the bank’s chairman until the end of the term of the board following the previously signed merger …

Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal Bank announced the effectiveness of their merger after the expiry of the creditor objection period on 15 June. Alawwal Bank noted that the bank did not receive any objections from …

Riyadh – Mubasher: Alawwal Bank announced that its merger with the Saudi British Bank (SABB) will be effective immediately after the end of the creditor objection period. If no creditor objects to the proposed tie-up until 15 June, the merger will …

Riyadh – Mubasher: The extraordinary general assembly of Alawwal Bank approved the offer by the Saudi British Bank (SABB) in connection with the proposed merger. The merger will take place through the issuance of 0.48535396 new SABB shares for …

Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Saudi British Bank (SABB) approved the proposed merger of SABB and Alawwal bank through the issuance of 0.48535396 new SABB shares for every share in Alawwal bank subject to the …

Riyadh – Mubasher: Alawwal Bank posted a 23.3% year-on-year fall in its profits for the first quarter of 2019, recording SAR 219.5 million. The decline in Q1-19 profit was attributed to higher cost of risk, up by 31.4% compared to Q1-18, according …

Riyadh – Mubasher: Saudi British Bank (SABB) on Thursday published a circular on which it revealed the schedule of the merger with Alawwal Bank. The circular included details of the merger, its terms and conditions, and other related matters, …

Riyadh – Mubasher: Saudi Arabia's Capital Market Authority (CMA) approved Saudi British Bank’s (SABB) request for raising its capital to SAR 20.55 billion from SAR 15 billion. SABB will carry out the capital raise through issuing 554.79 million …

Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) revealed the execution of three private transactions at a combined value of SAR 9.92 million during Monday’s trading activities. Alawwal Bank’s stock saw two private transactions valued at SAR …

Riyadh – Mubasher: The Saudi British Bank (SABB) on Monday confirmed the continuation of its merger with Alawwal bank over the coming period. The two lenders are working on completing tie-up procedures, including regulatory approvals, SABB, an …

  Riyadh – Mubasher: The governor of the Saudi Arabian Monetary Authority (SAMA) said he does not expect any new mergers among banks in the coming period, apart from those previously announced. The kingdom does not forecast a contraction in its …

Riyadh – Mubasher: Saudi Arabia’s Alawwal Bank on Tuesday reported a 15.42% year-on-year decline in net profits for the full fiscal year of 2018, logging SAR 1.13 billion, compared to SAR 1.33 billion in 2017. The bank attributed 2018 profit …

By: Thabet Shehata Riyadh – Mubasher: Profits of ten banks out of twelve listed on the Saudi Stock Exchange (Tadawul) jumped 16.3% year-on-year in the fourth quarter of 2018, recording SAR 11.23 billion from SAR 9.66 billion. For the full fiscal …

Riyadh – Mubasher: Saudi Arabia-based Abdullah Abdul Mohsen Al Khodari Sons Company on Tuesday said it has renewed a SAR 345 million sharia-compliant loan with Alawwal Bank. The facility, guaranteed through a promissory note, is renewed for one …

Riyadh — Mubasher: Saudi Arabia’s Alawwal Bank and the Saudi British Bank (SABB) are to complete consolidation in the first half of 2019, Alawwal’s managing director said. The two lenders are pushing ahead with closing the merger deal, then an …

Riyadh – Mubasher: Alawwal Bank on Thursday revealed plans to redeem SAR 2.5 billion sukuk. The sukuk, which were issued in 2013 and under the symbol 1047, would be redeemed on 12 December, according to a statement to the Saudi Stock Exchange …

By: Elsayed Gamal Riyadh – Mubasher: Saudi banks listed on the Saudi Stock Exchange (Tadawul) achieved SAR 1.21 billion ($324 million), or 10.7% year-on-year profit growth in the third quarter of 2018, with the exception of Alawwal Bank’s profits …

Riyadh – Mubasher: Saudi Arabia-based Alawwal Bank on Tuesday reported a 23% year-on-year profit decline in the third quarter of 2018, reaching SAR 281 million ($74.91 million), compared to SAR 363 million ($96.78 million). The bank attributed the …

Riyadh – Mubasher: There are many benefits to the merger between the Saudi British Bank (SABB) and Alawwal Bank, the merged entity’s newly-appointed managing director has said. Not only will the merger create the third largest bank in Saudi …

Mubasher: Moody’s Investors Service has affirmed the local and foreign currency deposit ratings of Saudi British Bank (SABB) at A1/P-1 and Alawwal Bank at A3/P-2. The outlook on Alawwal's long-term deposit ratings was changed to positive, from …

Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal Bank have approved to hire Lubna Olayan as a chairperson of their new merged lender. Olayan will be the first Saudi woman to take the lead of a listed bank in the kingdom, according to a …

Riyadh – Mubasher: The stocks of Alawwal Bank and the Saudi British Bank’s (SABB) have seen a mixed performance on Thursday on the Saudi Stock Exchange (Tadawul) after the two lenders announced signing a binding merger agreement. By 12: pm Saudi …

Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal bank have signed a binding merger agreement on Wednesday, 3 October. The two Saudi lenders approved to carry out regulatory procedures for merger pursuant subject to articles 191-193 of …

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading on the stocks of Alawwal Bank and the Saudi British Bank (SABB) starting from Wednesday, 3 October. The decsiosn came upon the request of the two lenders that will …

By: Bedour Al Raee and Mahmoud Gamal Abu Dhabi – Mubasher: The concept of merger has returned into focus in the GCC banking sector, as a group of banks in the region announced consolidation plans, which could create huge economic conglomerates …