Financial and Banking News
Riyad Bank Quadruples Capital
Riyad Bank, which is the second largest commercial bank in Saudi Arabiaranked by total assets, has quadrupled its capital from SR50mn to SR200mn whilereducing the nominal value of its shares from SR1,000 to SR100. The capital increase was arranged via a bonus share issue on a three-for-one basis. The SaudiArabian Monetary Agency (SAMA) is the dominant shareholder in Riyad Bank,holding 38% of...