Company Insights Saudi National Bank Banking & Finance Saudi National Bank News Banking & Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023 Banking & Finance SNB plan to take 40% Credit Suisse stake halted by regulator Saudi National Bank (SNB) wanted to increase its stake in Credit Suisse, Switzerland’s second-largest bank, to 40 percent from 9.88 percent, Zürich-based Blick daily reported. However, Swiss regulator Finma stopped the bank from making the move. Finma must approve a foreign investor taking a stake of more than 10 percent in a major Swiss bank, […] July 10, 2023 Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023 Banking & Finance Sohar International Bank and HSBC Oman to merge Sohar International Bank and HSBC Bank Oman have signed a binding merger agreement following talks that started in June 2022. All assets and liabilities of HSBC Bank Oman will be transferred to Sohar International upon the conclusion of the deal. The banks, which did not disclose the deal value, said that upon completion HSBC Oman […] May 31, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Banking & Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023 Analysis Banking & Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023 Banking & Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023 Banking & Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023 Analysis Banking & Finance Saudi banks face liquidity pressures as economy grows The Saudi central bank may step in to provide funding to local banks for the second time in a year to ease liquidity pressures and keep the economy growing, analysts have said. Last June central bank Sama placed about SR50 billion ($13 billion) as time deposits with commercial lenders in a bid to ease the […] April 25, 2023 Posts navigation Previous 1 … 5 6 7 8 Next
Banking & Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023
Banking & Finance SNB plan to take 40% Credit Suisse stake halted by regulator Saudi National Bank (SNB) wanted to increase its stake in Credit Suisse, Switzerland’s second-largest bank, to 40 percent from 9.88 percent, Zürich-based Blick daily reported. However, Swiss regulator Finma stopped the bank from making the move. Finma must approve a foreign investor taking a stake of more than 10 percent in a major Swiss bank, […] July 10, 2023
Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023
Banking & Finance Sohar International Bank and HSBC Oman to merge Sohar International Bank and HSBC Bank Oman have signed a binding merger agreement following talks that started in June 2022. All assets and liabilities of HSBC Bank Oman will be transferred to Sohar International upon the conclusion of the deal. The banks, which did not disclose the deal value, said that upon completion HSBC Oman […] May 31, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
Banking & Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023
Analysis Banking & Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023
Banking & Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023
Banking & Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023
Analysis Banking & Finance Saudi banks face liquidity pressures as economy grows The Saudi central bank may step in to provide funding to local banks for the second time in a year to ease liquidity pressures and keep the economy growing, analysts have said. Last June central bank Sama placed about SR50 billion ($13 billion) as time deposits with commercial lenders in a bid to ease the […] April 25, 2023
