Bank Albilad's general assembly approved, in its meeting held on Monday, the bank's board of directors' recommendation to distribute bonus shares for the year 2021, increasing the bank's capital by 33.33%.< /p>

The bank said in a statement to the Saudi market (Tadawul), today, Tuesday, that the total amount of the increase is 2.5 billion riyals, bringing the capital after the increase to 10 billion riyals, compared to 7.5 billion riyals before the increase.

He added that the recommendation to increase the capital aims to enhance the bank's financial solvency and preserve its resources in operational activities.

The increase will be through the capitalization of an amount of 2.5 billion riyals from the item of retained earnings, by granting one share for every 3 shares.

For its part, Saudi Arabia's Tadawul announced that the fluctuation rate for Bank Albilad share was calculated based on a price of 51.20 riyals.