Daraia Assembly Approves D360 Bank Capital Increase
The Extraordinary General Assembly of Driyah Financial Company approved an increase in the capital of D360 Bank by 38.89%, from 2.1 billion riyals to 2.92 billion riyals, through the issuance of approximately 73 million shares at a price of 20.57 riyals per share. The company will participate in this increase with an investment of 100 million riyals from its own resources to strengthen its support for the bank and its future expansion plans, resulting in a reduction of its ownership stake to around 16.35% after the increase. The funding aims to support expansion in financing and digital banking services for individuals and small to medium-sized enterprises, with notable growth since operations began in December 2024.
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