Company Insights Alrajhi Bank Banking and Finance Alrajhi Bank News Banking and Finance Rate cuts will put pressure on Gulf banks’ margins September’s benchmark interest rate reductions came too late to affect Gulf banks’ third-quarter earnings to a meaningful extent, although the longer-term impact on lenders’ net interest margins will be negative. In mid-September the Federal Reserve cut the benchmark US interest rate by 50 basis points to 5 percent, its first reduction since late 2018. The […] October 25, 2024 Analysis Banking and Finance Analysts expect ‘mixed’ picture from Gulf banks’ Q3 results The Gulf’s largest banks are likely to report mixed earnings for the third quarter, analysts say, as pressure on margins lessens the benefit of lending growth. Qatar National Bank and Dubai’s Emirates NBD – the Middle East and Africa’s largest and fifth largest banks by assets – have already published Q3 results. QNB’s profit rose […] October 23, 2024 Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024 Health Sulaiman Al Habib secures $347m loan for Saudi expansion Dr Sulaiman Al Habib Medical Services Group Company has secured long-term financing to expand across Saudi Arabia amid growing competition for healthcare services in the kingdom. The company, which trades on the Saudi stock exchange, has signed a sharia-compliant credit facility worth SAR1.3 billion ($347 million) with Al Rajhi Bank, a Saudi-listed lender. The 13-year-long facility will […] October 1, 2024 Giga-projects Five Saudi banks to finance cultural development fund Five Saudi banks have agreed to provide financing for a new arts fund managed by Saudi Arabia’s Cultural Development Fund, which has been leading government support for the arts since 2021. The agreement with Al-Rajhi Bank, Alinma Bank, Banque Saudi Fransi, Arab National Bank and Bank Aljazira will provide support to private sector projects in […] August 22, 2024 Markets Arabian Mills to float 30% of its stake on Saudi bourse Arabian Mills for Food Products Company (Arabian Mills) will sell 15.4 million shares, or 30 percent of its share capital, on the Saudi stock exchange. The sale comprises existing shares by Abdulaziz Al-Ajlan Sons for Trading and Real Estate Investment Company (Ajlan & Bros), Sulaiman Abdulaziz Al-Rajhi International Company, and National Agricultural Development Company (NADEC). […] August 22, 2024 Oil & Gas $3bn new funding to propel PIF-backed Ades expansion Saudi oil and gas driller Ades Holding has secured an additional $3 billion from local and regional banks to support potential acquisitions and organic growth. The Public Investment Fund (PIF)-backed company has upsized its existing syndicate facility through a standby term tranche of $2.7 billion and a revolving credit facility tranche of $300 million. The standby […] July 15, 2024 Banking and Finance Saudi banks’ profits fall as interest margins are squeezed Combined profits in April at Saudi Arabia’s banks fell 3.3 percent compared with March, to SAR6.7 billion ($1.9 billion), the lowest monthly total since last November’s SAR6.1 billion, central bank data shows. Nevertheless, banks total profits for January to April was SAR27.4 billion, up from SAR24.8 billion for the same period in 2023, a report […] May 30, 2024 Analysis Real Estate Investor interest wanes as Saudi real estate trusts underperform Saudi Arabia’s publicly listed real estate investment trusts lag the kingdom’s main stock index as investor enthusiasm for the REIT asset class wanes. This is despite steady returns and an upbeat outlook in the property sector. REITs are often listed on bourses and invest in various property types such as offices, residential, education facilities and […] May 16, 2024 Analysis Banking and Finance GCC debt market on way to trillion-dollar milestone The total debt capital market in the GCC is likely to cross $1 trillion this year, after reaching $940 billion in the first quarter of 2024. New research from Fitch Ratings shows that more than a third of GCC debt issued last year was in the form of sukuk, also known as an Islamic bond. […] May 14, 2024 Posts navigation Previous 1 2 3 … 5 Next
Banking and Finance Rate cuts will put pressure on Gulf banks’ margins September’s benchmark interest rate reductions came too late to affect Gulf banks’ third-quarter earnings to a meaningful extent, although the longer-term impact on lenders’ net interest margins will be negative. In mid-September the Federal Reserve cut the benchmark US interest rate by 50 basis points to 5 percent, its first reduction since late 2018. The […] October 25, 2024
Analysis Banking and Finance Analysts expect ‘mixed’ picture from Gulf banks’ Q3 results The Gulf’s largest banks are likely to report mixed earnings for the third quarter, analysts say, as pressure on margins lessens the benefit of lending growth. Qatar National Bank and Dubai’s Emirates NBD – the Middle East and Africa’s largest and fifth largest banks by assets – have already published Q3 results. QNB’s profit rose […] October 23, 2024
Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024
Health Sulaiman Al Habib secures $347m loan for Saudi expansion Dr Sulaiman Al Habib Medical Services Group Company has secured long-term financing to expand across Saudi Arabia amid growing competition for healthcare services in the kingdom. The company, which trades on the Saudi stock exchange, has signed a sharia-compliant credit facility worth SAR1.3 billion ($347 million) with Al Rajhi Bank, a Saudi-listed lender. The 13-year-long facility will […] October 1, 2024
Giga-projects Five Saudi banks to finance cultural development fund Five Saudi banks have agreed to provide financing for a new arts fund managed by Saudi Arabia’s Cultural Development Fund, which has been leading government support for the arts since 2021. The agreement with Al-Rajhi Bank, Alinma Bank, Banque Saudi Fransi, Arab National Bank and Bank Aljazira will provide support to private sector projects in […] August 22, 2024
Markets Arabian Mills to float 30% of its stake on Saudi bourse Arabian Mills for Food Products Company (Arabian Mills) will sell 15.4 million shares, or 30 percent of its share capital, on the Saudi stock exchange. The sale comprises existing shares by Abdulaziz Al-Ajlan Sons for Trading and Real Estate Investment Company (Ajlan & Bros), Sulaiman Abdulaziz Al-Rajhi International Company, and National Agricultural Development Company (NADEC). […] August 22, 2024
Oil & Gas $3bn new funding to propel PIF-backed Ades expansion Saudi oil and gas driller Ades Holding has secured an additional $3 billion from local and regional banks to support potential acquisitions and organic growth. The Public Investment Fund (PIF)-backed company has upsized its existing syndicate facility through a standby term tranche of $2.7 billion and a revolving credit facility tranche of $300 million. The standby […] July 15, 2024
Banking and Finance Saudi banks’ profits fall as interest margins are squeezed Combined profits in April at Saudi Arabia’s banks fell 3.3 percent compared with March, to SAR6.7 billion ($1.9 billion), the lowest monthly total since last November’s SAR6.1 billion, central bank data shows. Nevertheless, banks total profits for January to April was SAR27.4 billion, up from SAR24.8 billion for the same period in 2023, a report […] May 30, 2024
Analysis Real Estate Investor interest wanes as Saudi real estate trusts underperform Saudi Arabia’s publicly listed real estate investment trusts lag the kingdom’s main stock index as investor enthusiasm for the REIT asset class wanes. This is despite steady returns and an upbeat outlook in the property sector. REITs are often listed on bourses and invest in various property types such as offices, residential, education facilities and […] May 16, 2024
Analysis Banking and Finance GCC debt market on way to trillion-dollar milestone The total debt capital market in the GCC is likely to cross $1 trillion this year, after reaching $940 billion in the first quarter of 2024. New research from Fitch Ratings shows that more than a third of GCC debt issued last year was in the form of sukuk, also known as an Islamic bond. […] May 14, 2024
