Company Insights Alrajhi Bank Banking and Finance Alrajhi Bank News Video length: 07:03 VIDEO Giga-projects Neom secures $2.7bn as minister admits ‘adjustments’ Saudi Arabia’s $500 billion giga-project Neom has secured new funding as the kingdom’s officials admit some of its Vision 2030 projects may have to be scaled back. The SAR10 billion ($2.7 billion) revolving credit facility, obtained from nine Saudi-listed banks, will support short-term financing requirements for projects such as Trojena, The Line, and Oxagon, Neom said […] April 29, 2024 Banking and Finance Al Rajhi Bank Q1 profit up 6% as operating income rises The net profit of Al Rajhi Bank, the second-largest lender by assets in Saudi Arabia, rose 6 percent year on year to SAR4.4 billion ($1.2 billion) in the first quarter of 2024, driven by higher operating income. Total operating income increased 6.6 percent annually due to a rise in net financing and investment income. Total operating expenses, […] April 29, 2024 Analysis Banking and Finance Liquidity strain set to push Saudi banks to seek more funds Saudi Arabian banks’ loan books are set to expand faster than their deposits again in 2024, raising costs and pushing lenders to seek additional funding sources. However, the kingdom’s banks are expected to increase their annual profits this year as government-led infrastructure projects and likely cuts to benchmark interest rates boost margins for its two […] March 20, 2024 Banking and Finance Two of Saudi’s largest listed banks mull $2.7bn dividend Two of the largest listed banks in Saudi Arabia have declared a combined dividend of SAR10 billion ($2.7 billion) for the second half of 2023. The board of Saudi National Bank (SNB), the kingdom’s largest bank by assets, has recommended a dividend of nine percent or SAR5.4 billion for the second half of 2023. Overall, the […] February 26, 2024 Opinion Markets Shaping the fate of the Gulf’s capital markets Economic diversification provides a shot in the arm but conflict is concerning February 23, 2024 Markets Emirates NBD tops Gulf dividend yield rankings Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […] February 9, 2024 Construction Saudi cement maker Al Jouf plans to sue over $36m loss A Saudi cement producer is planning to sue three of its former board members for their role in an investment that resulted in a SAR136 million ($36.3 million) loss. Al Jouf Cement Company said in a filing to the Saudi Stock Exchange it was seeking authorisation from its general assembly for the liability lawsuit, which […] December 5, 2023 Banking and Finance Saudi’s top 10 banks post 3.8% rise in profits Saudi Arabia’s 10 largest listed banks saw net income rise 3.8 percent to SAR18 billion ($4.8 billion) in the third quarter of 2023, driven by higher loan growth and interest income. In light of the Saudi Arabian Interbank Offered Rate (Saibor) increasing by 13 basis points in the third quarter, aggregate total interest income increased by […] November 27, 2023 Analysis Banking and Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023 Transport Kuwait airport passenger numbers flying higher Passenger traffic through Kuwait International Airport is forecast to grow by 7 percent this year, fuelled by increased activity across the summer months. Total passenger numbers to and from the airport is expected to reach 15.5 million, according to the Gulf state’s Directorate General of Aviation, up from 14.46 million passengers reported in 2022. Abdullah […] August 28, 2023 Posts navigation Previous 1 2 3 4 5 Next
Video length: 07:03 VIDEO Giga-projects Neom secures $2.7bn as minister admits ‘adjustments’ Saudi Arabia’s $500 billion giga-project Neom has secured new funding as the kingdom’s officials admit some of its Vision 2030 projects may have to be scaled back. The SAR10 billion ($2.7 billion) revolving credit facility, obtained from nine Saudi-listed banks, will support short-term financing requirements for projects such as Trojena, The Line, and Oxagon, Neom said […] April 29, 2024
Banking and Finance Al Rajhi Bank Q1 profit up 6% as operating income rises The net profit of Al Rajhi Bank, the second-largest lender by assets in Saudi Arabia, rose 6 percent year on year to SAR4.4 billion ($1.2 billion) in the first quarter of 2024, driven by higher operating income. Total operating income increased 6.6 percent annually due to a rise in net financing and investment income. Total operating expenses, […] April 29, 2024
Analysis Banking and Finance Liquidity strain set to push Saudi banks to seek more funds Saudi Arabian banks’ loan books are set to expand faster than their deposits again in 2024, raising costs and pushing lenders to seek additional funding sources. However, the kingdom’s banks are expected to increase their annual profits this year as government-led infrastructure projects and likely cuts to benchmark interest rates boost margins for its two […] March 20, 2024
Banking and Finance Two of Saudi’s largest listed banks mull $2.7bn dividend Two of the largest listed banks in Saudi Arabia have declared a combined dividend of SAR10 billion ($2.7 billion) for the second half of 2023. The board of Saudi National Bank (SNB), the kingdom’s largest bank by assets, has recommended a dividend of nine percent or SAR5.4 billion for the second half of 2023. Overall, the […] February 26, 2024
Opinion Markets Shaping the fate of the Gulf’s capital markets Economic diversification provides a shot in the arm but conflict is concerning February 23, 2024
Markets Emirates NBD tops Gulf dividend yield rankings Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […] February 9, 2024
Construction Saudi cement maker Al Jouf plans to sue over $36m loss A Saudi cement producer is planning to sue three of its former board members for their role in an investment that resulted in a SAR136 million ($36.3 million) loss. Al Jouf Cement Company said in a filing to the Saudi Stock Exchange it was seeking authorisation from its general assembly for the liability lawsuit, which […] December 5, 2023
Banking and Finance Saudi’s top 10 banks post 3.8% rise in profits Saudi Arabia’s 10 largest listed banks saw net income rise 3.8 percent to SAR18 billion ($4.8 billion) in the third quarter of 2023, driven by higher loan growth and interest income. In light of the Saudi Arabian Interbank Offered Rate (Saibor) increasing by 13 basis points in the third quarter, aggregate total interest income increased by […] November 27, 2023
Analysis Banking and Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023
Transport Kuwait airport passenger numbers flying higher Passenger traffic through Kuwait International Airport is forecast to grow by 7 percent this year, fuelled by increased activity across the summer months. Total passenger numbers to and from the airport is expected to reach 15.5 million, according to the Gulf state’s Directorate General of Aviation, up from 14.46 million passengers reported in 2022. Abdullah […] August 28, 2023
