Banking news contained in issue 186 of Amlak Real Estate Newspaper (Real Estate Finance).<\/p>\n
The capital of Alinmaa Bank increased to SAR 20 billion, with 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 decision of the Board of Directors issued on 17 Rabi Al-Thani 1441 AH corresponding to December 14, 2019 AD to recommend to the Extraordinary General Assembly to increase the capital by capitalizing part of the reserve and carryover profits by granting one share for every three shares. (Real Estate Finance).<\/p>\n
The eligibility of the bonus shares will be for the bank's shareholders registered with 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.<\/p>\n
Alinmaa Bank announced that if there are fractions of shares, the fractions will be grouped into one portfolio for all shareholders, sold at the market price, and then distributed to the shareholders entitled to the grant according to their share within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.<\/p>\n
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 organizations. (Real Estate Finance).<\/p>\n
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 trade activity.<\/p>\n
Mr. Ahmed Al-Alawi, Head of Business Creation and Client Advisory at SAP, presented a paper titled \u201cTrends and Challenges in Saudi Trade Finance in 2020\u201d 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 \u201cDigitalization of the Saudi trade finance market as part of a global trend\u201d. 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.<\/p>\n
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 the realization of the National Vision 2030.<\/p>\n<\/div>\n
The boards of directors of National Commercial Bank (NCB) and Riyad Bank have agreed to end preliminary discussions and dismiss the idea of a merger between the two banks.<\/p>\n
Riyad Bank's board of directors explained 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.<\/p>\n
For its part, NCB's Board of Directors affirmed its commitment to realizing its vision to be the leading financial services group in the region 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 talent and advanced technologies.<\/p>\n
The National Commercial Bank (NCB) was awarded the \u00abBest Express Remittance Bank\u00bb by Global Banking & Finance, a specialist in banking and finance, as part of the 2019 Best Banking Service Providers list organized in London. ( Real Estate Finance )<\/p>\n
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 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 its awareness of its customers' need for advanced and innovative services that meet their needs.<\/p>\n
The recognition by a highly credible and specialized group reinforces Al Ahli Bank's position as a bank that continues to win the trust of more and more customers at both 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 financial banking services and operations.<\/p>\n
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