Saudi Arabia's Alinma Bank reported a 18.5 per cent rise in second-quarter net profit on Thursday, beating analysts' forecasts.
The Net profit in the three months to June 30 was SR365 million ($97.3 million), compared to S
Saudi Real Estate Company has signed an agreement with Alinma Investment, a unit of Alinma Bank, to jointly buy 1.8 billion riyals ($480 million) of land in Riyadh, it said in a statement on Monday.
The company did not name the se
Saudi Postal Corporation and Alinma Bank, one of the fastest growing banking institutions in the kingdom, have entered into an agreement with Western Union to offer money transfer services.
Under the agreement, remittance services
Saudi-based Alinma Bank is considering new financing opportunities in the kingdom after it led a consortium in the funding of a $2.5 billion power plant, its chief executive said on Saturday.
'There are a number of projects that Alinma
Alinma Bank will give clients credit cards upon opening an account, Saudi Arabia's newest lender said, firing a warning shot to credit-averse rivals ahead of the launch of its operations this year.
Alinma's announcement, made in an
Investors offered 18.3 billion riyals ($4.87 billion) or 74 percent more than Saudi Arabia's Alinma Bank was seeking in the country's biggest initial public offering, the bank and its IPO arranger said on Sunday.
Alinma sold 1.05 billion s
Saudi Arabia's Alinma said its 10.5 billion riyal ($2.8 billion) initial public offering, the kingdom's largest ever, was oversubscribed three days before the close of subscriptions.
Alinma Bank was seeking to sell 1.05 billion shares at 1