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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Al Rajhi to issue sukuk

Al Rajhi Bank is Saudi Arabia's second-largest lender by assets.
  • The bank said the offer will meet the bank’s financial and strategic objectives in accordance with its Sustainable Finance Framework.
  • The bank issued its Saudi riyal-denominated Tier 1 sukuk valued at SAR 6.5 billion ($1.7 billion) in January last year.

Dubai, UAE —Al Rajhi Bank, Saudi Arabia’s second-largest bank by assets, said Monday it will issue a dollar-denominated sustainable sukuk under its international sukuk program establish in April last year.

The amount and terms of offer of the Islamic bond will be determined subject to the market conditions, the bank said in a disclosure on Tadawul.

It added that the offer, open to eligible Saudi and international, will be made through a special purpose vehicle.  Al Rajhi Capital Company, Citigroup Global Markets Limited, Emirates NBD Bank PJSC, Goldman Sachs International, HSBC Bank, JP Morgan Securities, KFH Capital Investment Company and Standard Chartered Bank would be the joint lead managers and bookrunners for the offer.

The bank said the offer will meet the bank’s financial and strategic objectives in accordance with its Sustainable Finance Framework.

Al Rajhi reported a net profit of 17.15 billion riyals ($4.57 billion) in 2022, up 16 percent from 14.75 billion riyals in 2021.

The bank attributed the rise in net profit to an increase in the total operating income by 11.12 percent caused by an increase in net financing and investment income, fees from banking services, exchange income and other operating income.
Sukuk

The bank issued its Saudi riyal-denominated Tier 1 sukuk valued at SAR 6.5 billion ($1.7 billion) in January last year.

The return on the sukuk offering is estimated at an annual fixed rate of 3.5 percent, payable quarterly from the issuance date to 23 January 2027.