The Saudi British Bank announces the completion of the purchase of employee incentive shares at a value of 37.35 million riyals

The Saudi British Bank (SABB Al Awwal) announced the completion of its purchase of a number of its shares and their allocation under the Employee Incentive Shares Program.

The bank stated, in a statement on Saudi Arabia’s Tadawul today, Sunday, that about one million shares were purchased at an average price of 37.35 riyals per share, bringing the value of the purchased shares to 37.35 million riyals.

The bank noted that it implemented the purchase based on the approval of the extraordinary general assembly held on May 3, 2023.

Last May, the General Assembly of shareholders of The Saudi British Bank approved the bank’s purchase of its shares, with a maximum of one million shares; With the aim of allocating it to the Bank's employees within the employee shares program, provided that the purchase is financed from the Bank's own resources.