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 last time SABB completed such an issue was in December 2013, when it raised 1.5 billion riyals through an offering which had a seven year lifespan but which could be redeemed by the bank at the end of the fifth year.
DUBAI Jan 14 Saudi British Bank (SABB), the kingdom's sixth-largest bank by assets, posted a 0.6 percent drop in fourth-quarter net profit on Wednesday, missing analyst forecasts as operating expenses rose.
The Capital Market Authority said Saudi British Bank, an affiliate of HSBC Holdings, could issue one bonus share for every two shares held, increasing the number of the bank's outstanding shares to 1.5 billion from 1 billion.
The board of Saudi British Bank, an affiliate of HSBC Holdings, has recommended boosting the bank's capital by 50 per cent to SAR15 billion ($4 billion) through an issue of bonus shares, it said on Wednesday.
Saudi British Bank, the Kingdom's fifth-largest listed lender by assets, posted a 25.2 per cent rise in third-quarter net profit on Thursday, in line with analysts' forecasts as operating income increased.