Company Insights Saudi National Bank Banking & Finance Saudi National Bank News Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023 Opinion Banking & Finance Will GCC banks shrug off the global banking meltdown? A number of key differences set Gulf banks apart from their crisis-hit US and European counterparts April 7, 2023 Banking & Finance SNB announces management changes after Credit Suisse fallout Ammar Al Khudairy has resigned as chairman of Saudi National Bank for “personal reasons”, it was announced on Monday, leading to a series of SNB management changes. SNB chief executive Saeed Mohammed Al Ghamdi has been appointed his successor, according to a statement on the Tadawul Saudi stock exchange. Talal Ahmed Al Khereiji, a graduate […] March 27, 2023 Banking & Finance SNB shares rebound following UBS-Credit Suisse deal Shares in SNB on Tuesday rose for a second session since the state-backed lender said its profits would be unaffected by the UBS takeover of rival Credit Suisse, the Swiss bank in which it owns a minority stake. Saudi National Bank’s stock rose 3.4 percent to SR45.90 ($12.24), taking its gains to 10.6 percent from […] March 21, 2023 Banking & Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023 Banking & Finance Saudi National Bank has liquidity to withstand Credit Suisse shock Saudi National Bank has enough liquidity to withstand any losses arising from the troubled Credit Suisse, according to a leading economist. SNB, the kingdom’s biggest lender, took a stake of almost 10 percent in Credit Suisse last year after it participated in the bank’s $4.3 billion capital raise. It became its largest shareholder, with a […] March 17, 2023 Banking & Finance No more investment in Credit Suisse, says Saudi National Bank Saudi National Bank has ruled out any further investment in Credit Suisse as the troubled Swiss bank shed a quarter of its value on Wednesday. Saudi National Bank (SNB) chairman Ammar Al Khudairy said during an interview with Bloomberg TV that investing any more would then increase its current 10 percent stake in the the […] March 15, 2023 Analysis Banking & Finance UAE’s biggest banks mull overseas acquisitions As domestic loan growth wanes, the UAE’s top two banks are eyeing foreign acquisitions to bolster their income. First Abu Dhabi (FAB) and Dubai’s Emirates NBD are majority owned by their respective emirates’ governments or ruling families and are ranked second and sixth in the Middle East and Africa in terms of bank assets, according […] March 9, 2023 Banking & Finance Central bank approves HSBC Oman and Sohar International merger HSBC Bank Oman and Sohar International have received the Central Bank of Oman’s (CBO) approval for their merger proposal, the banks said in separate statements to the Muscat Stock Exchange. The merger is likely to be completed in the second half of 2023 following approvals from regulators and shareholders of the two banks. In previous […] February 6, 2023 Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023 Posts navigation Previous 1 … 6 7 8 Next
Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023
Opinion Banking & Finance Will GCC banks shrug off the global banking meltdown? A number of key differences set Gulf banks apart from their crisis-hit US and European counterparts April 7, 2023
Banking & Finance SNB announces management changes after Credit Suisse fallout Ammar Al Khudairy has resigned as chairman of Saudi National Bank for “personal reasons”, it was announced on Monday, leading to a series of SNB management changes. SNB chief executive Saeed Mohammed Al Ghamdi has been appointed his successor, according to a statement on the Tadawul Saudi stock exchange. Talal Ahmed Al Khereiji, a graduate […] March 27, 2023
Banking & Finance SNB shares rebound following UBS-Credit Suisse deal Shares in SNB on Tuesday rose for a second session since the state-backed lender said its profits would be unaffected by the UBS takeover of rival Credit Suisse, the Swiss bank in which it owns a minority stake. Saudi National Bank’s stock rose 3.4 percent to SR45.90 ($12.24), taking its gains to 10.6 percent from […] March 21, 2023
Banking & Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023
Banking & Finance Saudi National Bank has liquidity to withstand Credit Suisse shock Saudi National Bank has enough liquidity to withstand any losses arising from the troubled Credit Suisse, according to a leading economist. SNB, the kingdom’s biggest lender, took a stake of almost 10 percent in Credit Suisse last year after it participated in the bank’s $4.3 billion capital raise. It became its largest shareholder, with a […] March 17, 2023
Banking & Finance No more investment in Credit Suisse, says Saudi National Bank Saudi National Bank has ruled out any further investment in Credit Suisse as the troubled Swiss bank shed a quarter of its value on Wednesday. Saudi National Bank (SNB) chairman Ammar Al Khudairy said during an interview with Bloomberg TV that investing any more would then increase its current 10 percent stake in the the […] March 15, 2023
Analysis Banking & Finance UAE’s biggest banks mull overseas acquisitions As domestic loan growth wanes, the UAE’s top two banks are eyeing foreign acquisitions to bolster their income. First Abu Dhabi (FAB) and Dubai’s Emirates NBD are majority owned by their respective emirates’ governments or ruling families and are ranked second and sixth in the Middle East and Africa in terms of bank assets, according […] March 9, 2023
Banking & Finance Central bank approves HSBC Oman and Sohar International merger HSBC Bank Oman and Sohar International have received the Central Bank of Oman’s (CBO) approval for their merger proposal, the banks said in separate statements to the Muscat Stock Exchange. The merger is likely to be completed in the second half of 2023 following approvals from regulators and shareholders of the two banks. In previous […] February 6, 2023
Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023
