SNB downwards indicative price for 5-year sukuk

Saudi National Bank down warded the initial indicative price for its standard 5-year sukuk.
As reported by Reuters, the bank adjusted the indicative rate to 90 basis points above US Treasury bonds, marking a decrease from the earlier set rate of 120 basis points on Tuesday, following an overwhelming response of orders surpassing $4.1 billion.
On February 5, SNB unveiled a notable 7.7% increase in its net profits for the full year, propelled by heightened operating income and reduced provisions for expected credit losses.