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.
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.
SABB managing director David Dew told Reuters in an Oct. 1 interview the bank was finalising a three-year strategic plan based on an assumption that government spending will continue to grow and that Saudi bank lending levels to the private sector are ...
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.
Saudi British Bank Recommends Bonus Share Issue To Boost Capital 50%. One bonus share would be issued for each two shares held, increasing the number of the bank's outstanding shares to 1.5 billion from 1 billion.
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.