Banking & Insurance

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5 February 2025 05:26 PM Sumou Real Estate secures SAR 130m loan from SAB

Riyadh – Mubasher: Sumou Real Estate Company inked a credit facilities agreement with Saudi Awwal Bank (SAB) at an amount of SAR 130 million. The financing is valid for 48 months starting from 4 February 2025, according to a bourse filing. The …

Companies Investments

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5 February 2025 11:35 AM ANB posts SAR 4.9bn profits in 2024; dividends for H2-24 unveiled

Riyadh – Mubasher: Arab National Bank (ANB) generated SAR 4.96 billion in net profit as of 31 December 2024, higher by 21.98% year-on-year (YoY) than SAR 4.07 billion. Earnings per share (EPS) rose to SAR 2.26 last year from SAR 1.91 in 2023, …

Financial Results

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4 February 2025 08:01 PM Ma’aden to offer USD-denominated issuance

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) plans to issue USD-denominated trust certificates under its international trust certificate issuance programme, to be established on 4 February 2025. The issuance is expected to be through …

Banking and Finance

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4 February 2025 11:05 AM Riyad Bank to pay out SAR 2.6bn dividends for H2-24

Riyadh – Mubasher: Riyad Bank recommended cash dividends valued at SAR 2.69 billion, equivalent to 9% of its capital, for the second half (H2) of 2024. The bank will disburse a divined after Zakat worth SAR 0.90 for 2.99 billion eligible shares, …

Banking and Finance

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4 February 2025 10:37 AM Bank Albilad records 18.5% higher profits in 2024

Riyadh – Mubasher: Bank Albilad registered SAR 2.80 billion in net profit as of 31 December 2024, higher by 18.47% year-on-year (YoY) than SAR 2.36 billion. Earnings per share (EPS) increased to SAR 2.26 last year from SAR 1.91 in 2023, according …

Banking and Finance

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3 February 2025 07:31 PM Al Arabia inks SAR 972m facility deal with SAB

Riyadh Mubasher: Arabian Contracting Services Company (Al Arabia) penned a long-term bank facility agreement valued at SAR 972 million with Saudi Awwal Bank (SAB) on 3 February. The company aims to refinance the acquisition loan to Faden Media to …

Banking and Finance

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3 February 2025 06:27 PM Alkhorayef Water hikes financing from Alinma Bank to SAR 630m

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company increased its Sharia-compliant financing with Alinma Bank to SAR 630 million from SAR 250 million, according to a bourse filing. The security provided for the financing under the …

Companies Investments

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3 February 2025 05:56 PM BKN301 launches regional office in Qatar to foster MENA’s digital solutions

Mubasher: BKN301 Group, a London-based banking as a service (BaaS) technology provider, has launched an office in Qatar, serving as the company’s regional headquarters (HQ) for the MENA region. This move aligns with BKN301’s development strategy …

Banking and Finance

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3 February 2025 05:22 PM Riyad Bank registers 16% higher profits in 2024

Riyadh – Mubasher: Riyad Bank generated net profits amounting to SAR 9.32 billion as of 31 December 2024, higher by 15.86% year-on-year (YoY) than SAR 8.04 billion. The earnings per share (EPS) increased to SAR 3.01 last year from SAR 2.58 in …

Banking and Finance

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3 February 2025 00:16 PM MIS obtains SAR 1.6bn loan from Banque Saudi Fransi

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) secured a SAR 1.64 billion sharia-compliant facility from Banque Saudi Fransi, according to a bourse disclosure. The company will use the proceeds of the facility deal for invoice …

Companies Investments

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2 February 2025 08:26 PM SEC boosts capital structure after settling SAR 5.6bn obligations

Riyadh – Mubasher: The Saudi Electricity Company (SEC)is set to complete the necessary procedures to settle its SAR 5.68 billion obligations to the government, according to a bourse disclosure. The ministerial committee for the Restructuring of …

Banking and Finance

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2 February 2025 06:20 PM Bank Aljazira records SAR 1.2bn net profits in 2024

Riyadh – Mubasher: Bank Aljazira logged net profits standing at SAR 1.23 billion as of 31 December 2024, higher by 20.69% year-on-year (YoY) than SAR 1.02 billion. Earnings per share (EPS) hit SAR 1.01 in 2024, compared to SAR 0.86 a year earlier, …

Banking and Finance

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2 February 2025 05:53 PM SAB posts 15% higher profits in 2024

Riyadh – Mubasher: Saudi Awwal Bank (SAB) logged net profits valued at SAR 8.07 billion in 2024, up 15.25% year-on-year (YoY) from SAR 7 billion. The clients' deposits hit SAR 267.01 billion at the end of December 2024, an annual rise of 5.35% …

Financial Results

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2 February 2025 03:12 PM Banque Saudi Fransi’s board proposes SAR 1.2bn dividends for H2-24

Riyadh – Mubasher: The board members of Banque Saudi Fransi recommended cash dividends worth SAR 1.24 billion, equivalent to 5% of the capital, for the second half (H2) of 2024. The Saudi lender will disburse a dividend after Zakat worth SAR 0.50 …

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2 February 2025 09:27 AM Mashreq Bank’s regional growth motivates over AED 9bn profits in 2024

Dubai – Mubasher: The net profits after tax of Mashreq Bank grew by 4% year-on-year (YoY) to AED 9.01 billion in 2024 from AED 8.67 billion, according to the financial results. Total operating income witnessed an annual increase of 24% to AED …

Banking and Finance

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30 January 2025 03:47 PM Debt crowdfunding platform Lendo raises $690m facility led by J.P. Morgan

Riyadh – Mubasher: Debt crowdfunding platform in Saudi Arabia Lendo has secured a $690 million warehouse facility, equivalent to SAR 2.60 billion, led by J.P. Morgan. The transaction is supported by Fintech Saudi, underscoring the growth in Saudi …

Banking and Finance

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30 January 2025 07:44 AM Alinma Bank’s profits surpass SAR 5.8bn in 2024; dividends for Q4 proposed

Riyadh – Mubasher: Alinma Bank logged net profits totalling SAR 5.83 billion in 2024, higher by 20.51% year-on-year (YoY) than SAR 4.83 billion. The clients' deposits stood at SAR 210.54 billion last year, an annual growth of 12.05% from SAR …

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30 January 2025 07:34 AM Banque Saudi Fransi’s net profits up to SAR 4.5bn in 2024

Riyadh – Mubasher: Banque Saudi Fransi registered an annual rise of 7.60% in net profit to SAR 4.54 billion in 2024, compared to SAR 4.22 billion. The bank reported clients' deposits amounting to SAR 185.11 billion at the end of December 2024, up …

Banking and Finance

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30 January 2025 07:22 AM SNB announces 10% of capital as dividends for H2-24

Riyadh – Mubasher: The Saudi National Bank (SNB) announced the board’s decision to disburse SAR 6 billion, representing 10% of the capital, as cash dividends for the second half (H2) of 2024. SNB will pay out a dividend after Zakat worth SAR 1 per …

Financial Results

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30 January 2025 07:04 AM Bupa Arabia logs SAR 1.1bn net profits in 2024

Riyadh – Mubasher: The net profits after Zakat attributable to the shareholders of Bupa Arabia for Cooperative Insurance Company hit SAR 1.16 billion in 2024, an annual rise of 24.02% from SAR 940.16 million. Insurance revenues hit SAR 18.10 …

Banking and Finance

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30 January 2025 06:52 AM Paymob, Woo forge partnership to boost e-commerce in MENA

Cairo – Mubasher: Paymob has entered a landmark strategic partnership with Woo, the open-source e-commerce platform, to reshape the e-commerce landscape in the MENA region. Paymob became Woo’s first preferred partner to launch in the region, …

Companies Investments

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29 January 2025 07:07 PM Al Rajhi Bank unveils SAR 19.7bn profits in 2024, dividends for H2-24

Riyadh – Mubasher: The net profits of Al Rajhi Bank amounted to SAR 19.72 billion in 2024, an annual rise of 18.66% from SAR 16.62 billion. The clients' deposits hit SAR 628.23 billion last year, marking a 9.62% growth from SAR 573.10 billion in …

Banking and Finance

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29 January 2025 01:57 PM SNB records over SAR 21bn profits in 2024; assets jump to SAR 1.1trn

Riyadh – Mubasher: The Saudi National Bank (SNB) logged net profits amounting to SAR 21.19 billion in 2024, an annual rise of 5.91% from SAR 20.01 billion. The lender posted clients' deposits valued at SAR 579.76 billion as of 31 December 2024, …

Banking and Finance

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29 January 2025 00:18 PM Emirates NBD’s profits up 7% in 2024; financial growth in Saudi Arabia remarked

Dubai – Mubasher: Emirates NBD generated AED 23 billion in net profit after tax in 2024, higher by 7% year-on-year (YoY) than AED 21.52 billion. Total income stood at AED 44.13 billion last year, up 3% from AED 43.02 billion as of 31 December …

Banking and Finance

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29 January 2025 11:42 AM SAIB sees 11% higher net profits in 2024

Riyadh – Mubasher: The Saudi Investment Bank (SAIB) recorded an 11.07% year-on-year (YoY) hike in net profit to SAR 1.95 billion during 2024, compared to SAR 1.76 billion. Clients' deposits hit SAR 94.01 billion as of 31 December 2024, up 12.95% …

Banking and Finance