23 Hrs
Source:
الاقتصادية
D360 Bank approves 39% capital increase
The Board of Directors of D360 Bank approved a capital increase of 38.89%, raising it from 2.1 billion Riyals to 2.91 billion Riyals, through the issuance of 72.9 million new shares at a price of 20.57 Riyals per share, with total proceeds of approximately 1.49 billion Riyals. A portion of the shares will be allocated to a Employee Ownership Program, financed from the proceeds of the increase. The bank's pre-increase valuation is estimated at 4.5 billion Riyals. The Public Investment Fund supports the bank's future expansion, which has seen significant growth since December 2024, with the number of customers reaching 3 million and deposits amounting to 3 billion Riyals as of April. The focus remains on expanding the lending portfolio and financial technology services within Saudi Arabia.
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