The Extraordinary General Assembly of Al Rajhi Bank approved, yesterday evening, Sunday evening, the board of directors’ recommendation to increase the bank’s capital from 25 billion riyals to 40 billion riyals, by distributing 60% bonus shares, equivalent to 3 shares for every 5 shares owned by the bank’s shareholders.
And the “Saudi Tadawul” announced calculating the fluctuation percentage for the bank’s share based on the price of 112.40 riyals for today, Monday, May 9, 2022, and canceling the existing orders.
The Securities Depository Center Company “Edaa” will add the bonus shares to the shareholders’ portfolios before the start of trading next Wednesday.
The capital increase aims to enhance the bank’s resources, which will contribute to achieving good growth rates in the coming years.
It is noteworthy that Al Rajhi Bank’s profits rose by 23.9% in the first quarter of this year, to 4.1 billion riyals, compared to 3.3 billion riyals in the first quarter of 2021.