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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds) more

SABB, Saudi Hollandi capital hike approved

Posted on 09 January 2012

Saudi Arabia’s financial regulator has approved a 33 percent capital increase for Saudi British Bank (SABB) and a 20 percent hike for Saudi Hollandi Bank, it said in separate filings on Sunday.

SABB, an affiliate of HSBC, will raise its capital to 10 billion riyals ($2.67 billion) from 7.5 billion riyals by transferring 2.5 billion riyals from its retained earnings. It will issue a bonus share for every three existing shares owned by registered shareholders, bringing its total number of shares to 1 billion………………………………………Full Article: Source

 
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