Banking & Insurance

Riyadh - Mubasher: Ladun Investment Company has obtained a non-revolving facility worth SAR 750 million from Bank Albilad on 29 November 2022, according to a bourse filing. The Tadawul-listed firm will use SAR 500 million, which will be paid over …

Riyadh – Mubasher: Saudi Arabia has extended the term of a deposit valued at $5 billion for the Central Bank of Egypt (CBE), Saudi Press Agency (SPA) reported.  The decision comes in line with the Kingdom's objective to boost cooperation between …

Riyadh – Mubasher: Saudi Kayan Petrochemical Company paid $644 million (SAR 2.40 billion) as the last instalment of the senior loans worth $6 billion (SAR 22.50 billion) ahead of the scheduled plan. The Tadawul-listed company fully settled the …

Riyadh - Mubasher: Standard Chartered Bank has appointed Mazen Fahad Al Bunyan as its CEO for Saudi Arabia, according to a recent press release. Before joining Standard Chartered Bank, Al Bunyan served as the CEO of Alawwal Invest Company, an …

Riyadh – Mubasher: AlinmaTokio Marine Company signed a group credit insurance contract with Alinma Bank at a value of SAR 27.87 million, which might exceed 5% of the total annual revenues in 2022. The firm will secure insurance coverage for the …

Riyadh – Mubasher: Sumou Real Estate Company penned a Sharia-compliant facility agreement with Riyad Bank to increase its loan limit to SAR 286 million from SAR 50 million. The firm will use the funding to issue letters of guarantee, according to …

Riyadh – Mubasher: Banque Saudi Fransi has closed the offering of dollar-denominated notes at a total value of $700 million on 17 November, according to a bourse disclosure. The total number of the notes reached 3,500 at a par value of $200,000 …

Riyadh – Mubasher: Banque Saudi Fransi started the offering of its dollar-denominated notes under the Medium Term Note Programme at a par value of $200,000. The offering will take place during 16-17 November 2022, according to a recent bourse …

Riyadh – Mubasher: Al Jouf Agricultural Development Company penned a Sharia-compliant financing facility agreement worth SAR 40 million with Banque Saudi Fransi, according to a bourse disclosure. The firm will use the loan to refinance letters of …

Riyadh – Mubasher: Al Rajhi Bank has closed the offering of SAR-denominated Tier 1 Sukuk at a total value of SAR 10 billion, according to a bourse disclosure. The total number of Sukuk notes reached 10 million at a par value of SAR 1,000 each. …

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company bought a new building in Riyadh from Inma Alasima for Real Estate Development Establishment at a value of SAR 86.25 million. Alkhorayef Water noted that the purchase deal will be …

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has renewed a Sharia-compliant facility worth SAR 150 million with Gulf International Bank (GIB), according to a bourse filing. Valid until 27 June 2023, the Saudi company will use …

Riyadh – Mubasher: Aljazira Takaful Taawuni Company signed on 9 November 2022 facility agreements at a combined value of SAR 49.06 million with Bank Al Jazira to provide credit insurance plans for personal and mortgage loans. The first deal which …

Riyadh – Mubasher: Saudi Kayan Petrochemical Company obtained a Sharia-compliant Murabaha facility worth SAR 3 billion from Saudi National Bank (SNB) on 3 November 2022. The Tadawul-listed firm will use the funding to back its working capital and …

Riyadh - Mubasher: The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announced the signing of a $75 million Murabaha agreement in favor of Hartree Partners Power & Gas Company (UK) Limited, …

Riyadh – Mubasher: A recent report by Mastercard indicated that around 51% of people in Saudi Arabia believed that online cross-border payments helped their families and friends abroad over the past 12 months to overcome economic challenges. More …

Riyadh – Mubasher: Riyad Bank has named Abdullah Mohammed Al Issa as the new Chairman of the board for the next three years, according to a bourse disclosure. In addition, the Saudi lender appointed Mutaz Kusai Al Azzawi as the Vice Chairman. The …

Riyadh – Mubasher: The net profits of Banque Saudi Fransi amounted to SAR 2.67 billion in the first nine months (9M) of 2022, higher by 8.75% year-on-year (YoY) than SAR 2.45 billion. The earnings per share (EPS) stood at SAR 2.08 in 9M-22, …

Riyadh – Mubasher: The net profits of Saudi Investment Bank (SAIB) reached SAR 1.15 billion in the first nine months (9M) of 2022, higher by 49.25% than SAR 775.60 million in 9M-21. The earnings per share (EPS) increased to SAR 1.10 in 9M-22 from …

Riyadh – Mubasher: Alwasail Industrial Company obtained a SAR 34.90 million loan from the Saudi Industrial Development Fund (SIDF) on 23 October 2022. Upon the financing agreement, the loan will be repaid in 13 unequal and semi-annual instalments …

Riyadh – Mubasher: The net profits of Alinma Bank jumped by 31.03% year-on-year (YoY) to SAR 2.73 billion during the first nine months (9M) of 2022, versus SAR 2.09 billion. Earnings per share (EPS) settled at SAR 1.33 in 9M-22, compared to SAR …

Riyadh – Mubasher: Bank Albilad posted a 22.52% leap in net profit to SAR 1.54 billion during the first nine months (9M) of 2022, compared to SAR 1.25 billion in 9M-21. The earnings per share (EPS) went up to SAR 1.55 in 9M-22, versus SAR 1.26 …

Riyadh – Mubasher: Bank Aljazira generated SAR 865.30 million in net profit during the first nine months (9M) of 2022, an annual jump of 11.32% from SAR 777.30 million. The earnings per share (EPS) increased to SAR 1.01 in 9M-22, versus SAR 0.92 …