Financial and Banking News
Two Saudi Banks Announced Plans To Recapitalize
Saudi Investment Bank (SIB) and Saudi Hollandi Bank have announced theirintention to double their capital. They are the only remaining Saudi banks yetto take such action since the end of the Gulf war.
Earlier this month SIB said it would double its capital to SR180mn ($48mn)through a one-to-one issue of 900,000 bonus shares. The bank's reserves willcover the SR90mn capital...