Middle East Economic Survey

VOL. LII

No 7

16-Feb-2009

SAUDI ARABIA

Saudi Hollandi Plans 25% Capital Increase

The board of directors of the Saudi Hollandi Bank has decided to recommend to the shareholders meeting, scheduled to be held in March, a 25% increase in the banks capital from SR2.65bn ($706.7mn) to SR3.31bn ($ 882.7bn), through the capitalization of SR661.5mn ($176.4bn) from the banks retained profits. The boards recommendation includes the distribution of one bonus share for each four...