Bank AlJazira Assembly Approves 25% Capital Increase via Bonus Shares

Bank AlJazira announced on Tuesday the results of the 68th Extraordinary General Assembly Meeting (Second Meeting), which included approval of the Board of Directors’ recommendation to increase the Bank’s capital through bonus shares as follows:

– Capital before increase: SAR 10.2 billion, divided into 1.02 billion shares;

– Capital after increase: SAR 12.8 billion, divided into 1.2 billion shares;

– Total increase amount: SAR 2.5 billion; and

– Capital increase ratio: 25%.

The Bank stated the increase aims to strengthen its capital base to support its strategic objectives.

According to the announcement, the capital will be raised by capitalising SAR 2.5 billion from the statutory reserve and retained earnings in equal proportions, by distributing one share for every four shares held.