Saudi Investment Bank Approves SAR 2.5 Billion Capital Increase
Riyadh, Saudi Arabia — The Saudi Investment Bank has approved a 25% capital increase, raising its capital from SAR 10 billion to SAR 12.5 billion. The increase will come from the statutory reserve, using bonus shares at a ratio of one for every four held.
In a disclosure to the Saudi Exchange (Tadawul), the bank stated that the total number of shares will rise from 1 billion to 1.25 billion. This move aims to strengthen its financial position and support future expansion.
Share Allocation and Dividend Authorization
Fractional shares will be grouped into a single portfolio and sold on the market. Proceeds will be distributed to eligible shareholders within 30 days based on their shareholding.
The extraordinary general assembly also gave the board authority to issue interim dividends for 2024. Dividends may be paid quarterly or semi-annually, offering greater returns to shareholders.
This capital move supports the bank’s goal of long-term growth and enhances its competitiveness in the Saudi banking sector.
