Logo ofBank Albilad
Shareholders ofBank Albiladapproved during the extraordinary general meeting (EGM), held on April 14, the board’s proposal to raise capital by distributing one bonus share for every five shares held, according to a statement toTadawul. 
Capital Increase Details
Current Capital
SAR 12.5 bln
Current Number of Shares
1.25 bln
Increase Percentage (%)
20%
New Capital
SAR 15 bln
NewNumber of Shares
1.5 bln
Method
Issuing 1 bonus share for every 5 shares held
Nature Value of Reserve
Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from statutory reserve
Eligibility
April 14, 2024 (Shareholders registered with Edaa on the second trading day following the payment date)
Reason
Strengthening the bank’s financial solvency and utilizing its resources for operating activities
Fractional shares, if any, will be compiled into a single portfolio for all shareholders, sold at the market price, and their value distributed to eligible shareholders pro rata within a period not exceeding 30 days.
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The statement pointed out that the shareholders also authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for 2025.
The Saudi Exchange (Tadawul) said that the fluctuation limits on today, April 15, for Bank Albilad will be based on a share price of SAR 29.25 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into the investors’ portfolios before the beginning of trading on April 17.
Moreover, shareholders elected a new board of directors for the upcoming three-year term, starting April 17, 2025. The new board includes Naser Alsubeaei, Adeeb Abanamy, Abdulaziz Alonaizan, Khalid Alrajhi, Nasser AlNasser, Mohammed Al Rajhi, Haitham AlFayez, Moaz Al-Husseini, Haitham Al-Sohemy, Zaid Al Gwaiz, and Abdulaziz Albassam.
Logo ofBank Albilad
Shareholders ofBank Albiladapproved during the extraordinary general meeting (EGM), held on April 14, the board’s proposal to raise capital by distributing one bonus share for every five shares held, according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 12.5 bln
Current Number of Shares
1.25 bln
Increase Percentage (%)
20%
New Capital
SAR 15 bln
NewNumber of Shares
1.5 bln
Method
Issuing 1 bonus share for every 5 shares held
Nature Value of Reserve
Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from statutory reserve
Eligibility
April 14, 2024 (Shareholders registered with Edaa on the second trading day following the payment date)
Reason
Strengthening the bank’s financial solvency and utilizing its resources for operating activities
Fractional shares, if any, will be compiled into a single portfolio for all shareholders, sold at the market price, and their value distributed to eligible shareholders pro rata within a period not exceeding 30 days.
For more news on listed companies
The statement pointed out that the shareholders also authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for 2025.
The Saudi Exchange (Tadawul) said that the fluctuation limits on today, April 15, for Bank Albilad will be based on a share price of SAR 29.25 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into the investors’ portfolios before the beginning of trading on April 17.
Moreover, shareholders elected a new board of directors for the upcoming three-year term, starting April 17, 2025. The new board includes Naser Alsubeaei, Adeeb Abanamy, Abdulaziz Alonaizan, Khalid Alrajhi, Nasser AlNasser, Mohammed Al Rajhi, Haitham AlFayez, Moaz Al-Husseini, Haitham Al-Sohemy, Zaid Al Gwaiz, and Abdulaziz Albassam.
