Riyadh – Mubasher: Bank Aljazira plans to fully redeem its $500 million Tier 1 sukuk at nominal value, representing 100% of the issue price, on 29 June, according to a bourse disclosure.
In accordance with the Sukuk's terms and conditions, the bank may require BAJ Sukuk Tier 1 Limited as issuer to call the Sukuk on 29 June 2026.
Bank Aljazira obtained all necessary regulatory approvals for the redemption, with the nominal value of each sukuk upon redemption amounting to $200,000.
Following the redemption, the total outstanding issuance value will be reduced to zero.
In the first quarter (Q1) of 2026, the Saudi lender’s net profits climbed by 12.18% to SAR 405 million from SAR 361 million a year earlier.
