TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank, a press release said on Sunday. According to the release, the financing supports RSG's Joint Venture (JV) with Kingdom Holding Company (KHC), a prominent global investment company headquartered in Saudi...
Gulf banks show resilient growth despite US Fed hikes
Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported record profits in the first half of 2023, says a report.Riyad Bank H1 profit up 27%
The rise attributed to increase in total operating income.High oil prices, reforms spur Saudi economic boom
The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.
Saudi Arabia’s Alinma Bank posts highest first quarter asset growth
Dubai, UAE -- Saudi Arabian Alinma Bank posted the first quarter asset growth of 19.1 percent, leading other Saudi-listed banks, compared to same period a year ago. Al Rajhi Bank came second with 18.1 percent growth. The sector’s average growth rate stood at 11.2 percent. The Saudi Investment Bank led...Riyad Bank reports 13% jump in profit
The bank's profit rose to $1.3bn in the first nine months of 2022.Riyad Bank to offer sukuk
The bank offering will be denominated in Saudi riyals.
SRC, Riyad Bank sign $133m deal
This is the second largest mortgage refinancing deal in the kingdom.
$1.6bn Saudi initiatives to boost local manufacturing
Saudi Arabia has unveiled two initiatives to help the country boost its production and manufacturing.
