Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Rajhi Bank has approved a capital raise to SAR 40 billion from SAR 25 billion by granting bonus shares.
The bank will capitalise SAR 15 billion from retained earnings account by granting three shares for every five shares to increase its capital, according to a bourse filing on Monday.
It is noteworthy to mention that in the first quarter (Q1) of 2022, the bank generated SAR 4.13 billion in net profit, up 23.95% year-on-year (YoY) from SAR 3.33 million.
