Bank news from issue 186 of Amlak Real Estate Newspaper (Real Estate Finance).
Bank news from issue 186 of Amlak Real Estate Newspaper.
Enmaa Bank increases its capital to 20 billion riyals
The capital of Alinma Bank increased to SAR 20 billion, an increase of 33.3%, in order to enhance the bank's resources, which contributes to achieving good growth rates, and the Saudi Stock Exchange published the Board of Directors" decision issued on 17 Rabi'II 1441 H corresponding to 14 December 2019 to recommend to the Extraordinary General Assembly to increase the capital by capitalizing part of the reserve and carry-over profits by granting one share for every three shares. (Real Estate Finance).
The eligibility of the grant shares will be for the bank's shareholders registered at the Depository Center by the end of the second trading day following the day of the bank's General Assembly, which will be announced later.
Alinma Bank announced that if there are fractional shares, the fractional shares will be pooled into one portfolio for all shareholders, sold at market price and then distributed to the eligible shareholders according to their respective shares within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.
SABB gives feedback at Saudi Trade Finance Summit
<The Saudi British Bank (SABB) participated in the seventh annual Saudi Trade Finance Summit in the presence of a group of decision makers, senior experts, specialists and leaders in the trade finance sector from various government and commercial institutions. (real estate finance).In its participation, the Bank presented solutions and exchanged ideas to develop trade finance tools during the summit sessions, and discussed trade finance laws, strategies and trends that contribute to shaping the Saudi economy through commercial activity.
Mr. <Mr. Ahmed Al-Alawi, Head of Business Creation and Client Advisory at SABB, presented a working paper titled »Trends and Challenges in Saudi Trade Finance in 2020“ He discussed the effects of global trade wars on Saudi trade, new opportunities in changing the local regulatory environment, and new trade products and the value they can add to the Saudi market. Mr. Sean Bowie, Business Product Manager for Global Trade and Catering at SAP, presented a paper titled ”Digitalization of the Saudi trade finance market as part of a global trend“. He emphasized that trade finance is poised for unprecedented growth, noting the benefits to banks and customers in the Kingdom as a result. He also spoke about the importance of developing global digital standards and products in relation to finance, and stressed the importance of digitization as an important factor to increase transparency and develop the secondary market.
It is worth mentioning that SABB is one of the leading banks in the field of trade finance, and has achieved priority in introducing many products and services aimed at enhancing the role of trade finance, in order to stimulate the economy and develop the business sectors, as one of the important drivers of achieving the National Vision 2030.
Notably, SABB is one of the leading banks in the field of trade finance.
Riyadh and Al Ahli BanksDismiss the idea of a merger
The boards of directors of National Commercial Bank and Riyad Bank have agreed to end preliminary discussions and dismiss the idea of a merger between the two banks.
The boards of directors of Riyad Bank and Al Ahli Bank have agreed to end preliminary discussions and dismiss the idea of a merger between the two banks. <Riyad Bank's board of directors said in a statement that it has a strategic vision that will enable it to continue to develop its technical products and services for customers, shareholders and employees. For its part, the Board of Directors of the National Commercial Bank affirmed its commitment to achieve its vision to be the leading regional financial services group by implementing its sustainable growth strategy, which aims to provide outstanding services to its customers and achieve the best returns for its shareholders by attracting the best national skills and advanced technologies.
The Board of Directors of Riyad Bank said in a statement that it has a strategic vision that will enable it to continue to develop its products and technical services for customers, shareholders and employees.
Al Ahli Bank wins "Best Remittance Bank« for 2019
Al Ahli Commercial Bank has been awarded the »Best Express Remittance Bank« award presented by Global Banking & Finance, specialized in banking and finance, as part of the 2019 Best Banking Service Providers list organized in London. (Real Estate Finance)
On this occasion, Al Ahli Commercial Bank won the »Best Express Remittance Bank" award. On this occasion, Omar Yassin, Deputy CEO of the bank, emphasized that this award reflects the bank's leadership in fast remittance services for its retail banking customers and its ability to efficiently implement electronic transformation to facilitate the implementation of its customers" financial transactions, explaining that this award reflects the bank's outstanding performance in its banking services, putting the customer experience among its priorities, and how it recognizes the need for its customers to obtain advanced and innovative services that meet their needs.
The award comes in line with the Bank's commitment to providing its customers with advanced and innovative services that meet their needs. <This recognition by a highly credible and specialized group reinforces Al Ahli Bank's position as a leading national and regional bank that is constantly gaining the trust of more and more customers at the national and regional levels. According to Global Banking & Finance, the criteria for the award included the bank's strategy in quick transfers and electronic transformation of services, the size of the customer base, the number of operations, and the ability to provide tangible benefits from electronic initiatives to facilitate banking financial services and operations.
Global Banking & Finance stated that the award was based on the bank's strategy in quick transfers and electronic transformation of services, the size of the customer base, and the number of operations.
