DUBAI May 7 Saudi British Bank (SABB) is planning to sell a riyal-denominated sukuk that will boost its capital reserves, sources aware of the matter told Reuters on Thursday, with an announcement set to be made as early as next week.
DUBAI May 28 Saudi British Bank (SABB) has completed a private placement of 10-year, 1.5 billion riyal ($400 million) subordinated Tier 2 sukuk callable in five years, it said in a bourse statement on Thursday.
The deal is likely to be arranged solely by HSBC, which holds a 40 percent stake in the Saudi bank known as SABB, the two sources said, speaking on condition of anonymity as the information isn't public.
SABB is the latest Saudi bank to boost its capital through the sale of debt instruments; while the kingdom's lenders are well capitalised compared to their Western peers, a sustained period of high loan growth has put downward pressure on their capital ...
Around half-way through last year, Saudi Arabia's net foreign assets broke through the half-a-trillion-dollar barrier. They now stand at around $536bn, having risen 22 percent during the course of 2011.
DUBAI, Aug 26 (Reuters) - Saudi British Bank (SABB), an affiliate of HSBC Holdings, is aiming to sell an Islamic bond by year-end to strengthen its capital base, two banking sources aware of the matter said on Monday.
JEDDAH: Saudi British Bank (SABB) has posted a 0.6 percent drop in fourth-quarter net profit. The bank, an affiliate of HSBC Holdings, made a profit of SR969.4 million ($258.3 million) in the three months to Dec. 31, according to a bourse statement.