Samba Financial Group - Saudi Arabia

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Recent Articles

• Saudi Mobily refinances SR1.5bn Islamic loan11 October 2009

  Mobile operator originally used loan to finance purchase of Bayanat Al Oula.

• NBK cuts fair value estimates on 4 Saudi banks23 September 2009

  Downgrade in response to fears of weakening asset quality in banking sector.

• Algosaibi no longer Samba chairman - bank13 September 2009

  Saudi's second largest bank says it wishes him well in statement on Tadawul website.

• Abu Dhabi power project said close to $1.1bn loan17 August 2009

  Sponsors of Shuweihat 2 power generation project said to have lined up 12 banks.

• Saudi banks up Q2 loan loss provisions22 July 2009

  Banque Saudi Fransi and Samba moves come amid concerns about some debt-laden Saudi firms.

• Saudi Electricity seeks bidders for Riyadh project11 July 2009

  Power plant project is expected to start first phase of operation by 2012.

• Qatar index falls to new 5-year low1 March 2009

  Industries Qatar leads stock market to new 5-year low amid gloomier prognosis for global economy.

• Saudi economy forecast to contract25 February 2009

  Oil output cuts and weak non-oil growth set to impact kingdom's economy this year, says Samba Financial Group.

• Saudi lender obtains licence to enter India12 November 2008

  Samba Financial Group, the kingdom's second largest, wins approval to start Indian operations.

• Dubai real estate risks sharp correction - report7 September 2008

  Saudi bank says signs of overheating amid expansionary monetary conditions.

• Saudi bourse rises again as foreigners move in24 August 2008

  Shares in the kingdom continue upward trend after Saturday's impressive increase.

• Samba profit slump continues20 July 2008

  Saudi's second-biggest lender posts second straight quarterly profit decline in Q2, missing forecasts.

• Samba to lead Mideast's biggest mining IPO29 June 2008

  Saudi's Maaden appoints Samba subsidiary to oversee $2.47bn share sale.

• Standard Chartered, Samba out of Egypt bank bid25 June 2008

  Two lenders disqualified from bidding for stake in Banque du Caire, no reason given.

• Saudi Kayan pens $6bn loan deal31 May 2008

  Petrochemicals firm signs agreement with group of banks to part finance complex in Al-Jubail industrial zone.

• Samba profit drops on bourse woes15 April 2008

  Saudi's second-largest lender first local bank to post decline in net income in Q1, with 5.4% fall to $320mn.

• Gulf markets rebound12 March 2008

  Stocks across region push markets to higher close, bar Saudi which drops for fifth time in six days.

• Noor Financial eyes bid for Banque du Caire3 March 2008

  Commercial Bank of Kuwait interested in Egypt's third-largest state bank.

• Firms to shun dollar for project financing1 March 2008

  Gulf Arab companies looking toward other currencies such as euro or yen for loans, analysts say.

• Samba Financial to issue 1-for-2 bonus share offer6 February 2008

  Saudi's second largest lender to raise capital to $2.4bn and increase dividend payment.

• Subprime crisis to hit Gulf banks' earnings27 January 2008

  Regional banks who thought investments were safe discovering underlying assets subprime, bankers say.

• Samba Financial earnings squeezed21 January 2008

  Saudi's second largest bank misses forecasts with Q4 profit of $254.7mn, up 1.8% year-on-year.

• Samba misses a step as profit drops11 October 2007

  Saudi lender posts fourth consecutive decline in profit in Q3 on diminished brokerage activity.

• Samba deploys debt management system26 September 2007

  Saudi Arabia's Samba Financial Group implements Experian's Tallyman debt management and collection solution.

• Saudi Printing seeks $106m in IPO20 June 2007

  The Arab world's largest news publisher plans a 30% stake sale later this month.