Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

The board of Al Rajhi Bank favors capital hike to $10.7bn

Al Rajhi Bank is Saudi Arabia's second-largest lender by assets.
By TRENDS Desk
February 20, 2022 4:51 pm
  • The capital will be increased by granting SR15 billion in bonus shares to the bank’s shareholders
  • The eligibility to get bonus shares will be given to shareholders owning the stocks by the end of the trading day of the bank’s Extraordinary General Assembly meeting date

Al Rajhi Bank has recommended a sixty percent increase in the bank’s capital to $10.7 billion.

The capital will be increased by granting SR15 billion in bonus shares to the bank’s shareholders, from the retained earnings by way of granting three shares for every five shares owned.

The eligibility to get bonus shares will be given to shareholders owning the stocks by the end of the trading day of the bank’s Extraordinary General Assembly meeting date, which will be announced soon.

Founded in 1957, Al Rajhi Bank is considered one of the world’s largest Islamic banks by capital.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]