Market approves Riyad Bank debt issuance

The Saudi Capital Market Authority has approved Riyad Bank's request to issue debt instruments valued at up to 10 billion riyals, as part of a public issuance program. The prospectus will be issued before the start of the subscription, providing details on financial data and activities. The approval is valid for six months from the Authority’s decision. In the first quarter, the bank's profits increased by 5.1% to 2.6 billion riyals, with the market value rising to 87.3 billion riyals. The Public Investment Fund owns 21.8% of the capital.

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