Riyadh - Mubasher: Al Rajhi Bank intends to issue US dollar-denominated Tier 2 social sukuk, according to a bourse filing.

The proposed issuance will be conducted through a special purpose vehicle and offered to qualified investors both within and outside the Kingdom of Saudi Arabia.

This move follows the bank's updated international sukuk issuance program dated 17 June  2026, and is based on board of directors' resolutions dated 15 December 2021, 23 June 2025, and 19 February 2026.

The bank has appointed a syndicate of joint lead managers and bookrunners for the potential offering, including Al Rajhi Capital, Arqaam Capital Limited, Banco Bilbao Vizcaya Argentaria, S.A., and Citigroup Global Markets Limited.

Intesa Sanpaolo S.p.A., Morgan Stanley & Co. International plc, SMBC Bank International plc, Standard Chartered Bank, and Warba Bank K.S.C.P. are also expected to participate.

The final value and specific terms of the sukuk will be determined subject to market conditions.

Al Rajhi Bank stated that the primary objective of the issuance is to fulfill its financial and strategic goals in alignment with its sustainable finance framework.

The offering remains subject to approval by relevant regulatory authorities.

In the first half (H1) of 2026, Al Rajhi Bank generated a net profit of SAR 13.76 billion, up 14.16% from the SAR 12.06 billion recorded during the same period in 2025.