5 Hrs
Source:
الاقتصادية
Saudi Arabia distributes 2 billion riyals in H1 profits
The board of directors of the First Saudi Bank has decided to distribute more than 2 billion riyals in cash dividends to shareholders for the first half of the 2026 fiscal year, at a rate of 1 riyal per share after Zakat deduction, on more than 2 billion shares. This follows approval from the Saudi Central Bank for the distribution. The bank's profits in the second quarter of the year increased by 9.6% annually, reaching 2.33 billion riyals, supported by growth in net commission income, a decrease in credit loss provisions, and income tax, despite a decline in operating income, the share of profits from associates, and an increase in operating expenses. The bank's market value is approximately 67 billion riyals, with HSBC holding the largest stake at 31%.
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