Riyadh - Mubasher: The Capital Market Authority (CMA) approved increasing the capital of Alinma Bank to SAR 30 billion from SAR 25 billion, according to a bourse disclosure.
The SAR 5 billion increase will be capitalized from the statutory reserve and retained earnings in equal proportion.
Following the hike, the number of shares will stand at 3 billion, instead of 2.50 billion.
In January, the bank’s board members recommended the transaction to improve its financial solvency and support the achievement of its strategic objectives.
