SAIB Raises Its Capital To SR1.1Bn
The Riyadh-based Saudi Investment Bank (SAIB) announced on 20 November that it had raised its capital to SR1.1bn ($293mn) an increase of SR100mn ($26.7mn) to be allocated as one bonus share for every 10 held. In addition to this, the bank announced its intention to distribute SR5 ($1.3) per share as a cash dividend pending board approval. The capital increase now brings total shareholder equity to SR1.87bn. (At...