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21 September 06:00 AM

Banking & Insurance

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20 September 04:47 PM National Building secures SAR 100m from Riyad Bank
Riyadh – Mubasher: National Building and Marketing Company has signed a Sharia-compliant credit facility agreement worth SAR 100 million with Riyad Bank. The loan duration is three months starting 20 September 2021, according to a bourse …
Banking and Finance
Photo Archive
16 September 11:29 AM Standard Chartered opens first branch in Saudi Arabia
Riyadh – Mubasher: British lender Standard Chartered has inaugurated its first branch in Saudi Arabia, celebrating the opening virtually, according to a press release on Thursday. The Saudi Central Bank (SAMA) granted the license to Standard …
Companies Investments
Photo Archive
15 September 12:07 PM SoftBank makes first investment in Saudi-based firm
Riyadh – Mubasher: SoftBank Group has partnered with a unit of the kingdom’s sovereign wealth fund for a deal on Unifonic, marking its first investment in a Saudi-based company. SoftBank and the unit will lead a $125 million financing for the …
Companies Investments
Photo Archive
13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
Banking and Finance
Photo Archive
13 September 09:56 AM Sadr Logistics secures short-term loan from ANB
Riyadh – Mubasher: Sadr Logistics Company has obtained a short-term financing worth SAR 5 million from Arab National Bank (ANB), according to a disclosure to Tadawul on Monday. The Sharia-compliant loan was secured through the Kafalah Fund under …
Banking and Finance
Photo Archive
9 September 04:39 PM Total proceeds of treasury shares sale exceed SAR 1bn – SAIB
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) has completed the sale of 74.99 million treasury shares, according to a bourse filing on Thursday. The final results represented the entire treasury shares owned by SAIB. Total proceeds from …
Banking and Finance
ITFC approved for its member countries more than $58 billion since 2008
8 September 05:45 PM ITFC supports members with $605m under COVID-19 Response Program
Mubasher: The International Islamic Trade Finance Corporation (ITFC) has provided the member countries with $605 million as financial support under its COVID-19 Response Program, CEO of ITFC, Hani Sonbol, announced. The corporation aimed to help …
Banking and Finance
SEC aims to refinance an existing revolving loan
8 September 10:00 AM SEC obtains $2.5bn revolving loan
Riyadh – Mubasher: Saudi Electricity Company (SEC) has signed a USD-denominated revolving credit facility agreement worth $2.57 billion. The loan duration stands at three years starting from the date of obtaining the funding on 8 September 2021, …
Banking and Finance
The total funding was reduced to SAR 465 million
7 September 10:15 AM MEPCO renews loan deal with Bank Albilad
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has renewed and amended a credit facilities agreement with Bank Albilad on Monday, 6 September. The Sharia-compliant loans include short- and medium-term funding that was decreased from SAR 540 …
Banking and Finance
Minister of Planning and Economic Development, Hala El-Saeed
6 September 04:39 PM IsDB's portfolio amounts to $13bn in Egypt
Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development, Hala El-Saeed, participated in the 46th Islamic Development Bank (IsDB) Group’s Board of Governors’ annual meetings in Uzbekistan.  El-Saeed met with the CEO of the …
Macroeconomics
The coverage percentage has reached 648%
5 September 11:27 AM SAIB sells treasury shares at SAR 152m
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) announced the sale of 9.75 million treasury shares in a rump offering for a value of SAR 15.56 per share, according to a bourse disclosure on Sunday. The total value of the sold rump treasury …
Banking and Finance
The financing will be received over 16 semi-annual installments
5 September 10:08 AM Dallah Healthcare gets SAR 357.5m funding
Riyadh – Mubasher: Dallah Healthcare Company has received a long-term financial assistance worth SAR 357.47 million from the Ministry of Finance. The funding duration is 10 years starting from the date of obtaining the amount on 2 September 2021, …
Banking and Finance
SAICO was awarded and signed the contract on 30 August
31 August 10:59 AM SAICO to provide Al Rajhi with insurance coverage
Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) will provide insurance coverage to Al Rajhi Bank for one year starting 1 September 2021. The annual premiums for this contract are expected to exceed 5% of SAICO's revenues, …
Banking and Finance
The assets totalled SAR 1.849 trillion ($493.05 billion) in July 2021
30 August 09:51 AM SAMA’s assets grow 2% annually in July
Riyadh – Mubasher: The Saudi Central Bank (SAMA) registered an increase of 2.07% in assets during the month of July 2021 when compared to the same period last year. The assets totalled SAR 1.849 trillion ($493.05 billion) in July 2021, compared to …
Macroeconomics
The Murabaha loan has an eight-year duration
17 August 10:36 AM Alujain secures SAR 1bn Murabaha facility from Alinma Bank
Riyadh – Mubasher: Alujain Holding Corporation has signed an Islamic Murabaha facility agreement with Alinma Bank to obtain funding worth SAR 1 billion. The Murabaha loan has an eight-year duration from 16 August 2021, according to a bourse filing …
Banking and Finance
The company will use the bank facility in financing new project contracts
12 August 05:01 PM MIS obtains SAR 150m bank facility
Riyadh - Mubasher: Al Moammar Information Systems (MIS) has inked a SAR 150 million facility agreement, in compliance with Islamic Sharia, with Gulf International Bank. Valid until 11 August 2022, the facility agreement is secured by a promissory …
Companies Investments
The loan duration is one year
11 August 10:11 AM Al Kathiri Holding’s unit secures SAR 6m loan from Riyad Bank
Riyadh – Mubasher: Alian Industry Company, a subsidiary of Al Kathiri Holding Company, has signed an agreement with Riyad Bank to obtain a credit facility worth SAR 6 million. The loan duration is one year that can be renewed later, according to a …
Banking and Finance
The deal was signed on 9 August 2021
9 August 05:02 PM National Building obtains SAR 45m facilities from Riyad Bank
Riyadh – Mubasher: National Building and Marketing Company has signed a loan agreement with Riyad Bank to secure SAR 45 million worth of revolving facilities. The financial amount, which will be renewed on an annual basis, aims to finance the …
Companies Investments
The bank will pay a total amount of SAR 2.91 billion
9 August 10:24 AM SNB to distribute SAR 0.65/shr dividend for H1-21
Riyadh – Mubasher: The Saudi National Bank (SNB) will pay SAR 0.65 per share as a cash dividend, representing 6.5% of the share’s par value, for the first half (H1) of 2021. The bank will pay a total amount of SAR 2.91 billion for 4.47 billion …
Banking and Finance
Earnings per share remained unchanged at SAR 0.59 in H1-21
8 August 05:18 PM Amlak International’s profits marginally up in H1-21, assets decrease 6.5%
Riyadh – Mubasher: Amlak International for Real Estate Finance Company registered net profits worth SAR 53.41 million in the first six months of 2021, up 0.2% from SAR 53.29 million in the same period a year earlier. Earnings per share remained …
Financial Results
Earnings per share stood at SAR 1.41 in H1-21
5 August 04:15 PM SNB records SAR 5.5bn net profits in H1-21
Riyadh – Mubasher: The Saudi National Bank (SNB) achieved net profits after Zakat and Tax worth SAR 5.52 billion in the first half (H1) of 2021, higher by 12% than SAR 4.92 billion in H1-20. Earnings per share stood at SAR 1.41 in H1-21, compared …
Financial Results
Clients’ deposits reached SAR 186.82 billion in H1-21
4 August 10:23 AM SABB turns profitable at nearly SAR 2bn in H1-21
Riyadh – Mubasher: Saudi British Bank (SABB) achieved net profits after Zakat and tax worth SAR 1.88 billion in the first half (H1) of 2021, against losses worth SAR 5.89 billion in H1-20. The profit per share stood at SAR 0.92 in H1-21, versus a …
Financial Results
The distribution date is on 23 August
3 August 05:18 PM Bank Aljazira to distribute SAR 287m dividends for H1-21
Riyadh – Mubasher: Bank Aljazira will distribute on 23 August a cash dividend of SAR 0.35 per share for the first half (H1) of 2021. The total value of the dividends will stand at SAR 287 million for 820 million shares eligible for distribution, …
Cash Dividends
The contract duration will be for one year until August 2022
3 August 10:21 AM Al Rajhi Takaful inks mortgage insurance contract with Al Rajhi Bank
Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has signed a contract with Al Rajhi Bank to provide mortgage insurance coverage for the bank’s clients. The insurance company was awarded the contract on 2 August …
Companies Investments
Earnings per share stood at SAR 0.7 in H1-21
2 August 05:30 PM Bank AlJazira records SAR 573m profits in H1-21
Riyadh – Mubasher: Bank AlJazira achieved a surge of 64.8% in net profits after Zakat and tax to SAR 572.8 million in the first half (H1) of 2021, compared to SAR 347.4 million in H1-20. Earnings per share stood at SAR 0.7 in H1-21, up from SAR …
Financial Results