Middle East Economic Survey

VOL. XLVIII

No 10

7-March-2005

SAUDI ARABIA

Riyad Bank And Samba Raise Their Capital Base

Two Saudi banks Riyad Bank and Saudi American Bank (Samba) have decided to raise their share capital and pay dividends to their shareholders in respect of 2004. A shareholders assembly of Riyad Bank, held on 21 February, approved a board of directors decision to raise the banks capital from SR4,000mn ($1,067mn) to SR5,000mn ($1,333mn), with the issue of one free-of-charge share...