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RIYADH: Saudi National Bank has finalized a SR3.3 billion ($878 million) sukuk issuance in a bid to strengthen its capital base.
Denominated in Saudi riyals, the offer started in late August and included a total of 3,300 bonds at a par value of SR1 million, according to a bourse filing.
SNB Capital acted as the sole book-runner, lead arranger, and lead manager of the issuance.
This comes after the Saudi-listed lender reported solid earnings for the first half of 2022, posting a 59 percent profit surge to SR9 billion.
Along with the robust financial performance, the bank declared a half-year dividend payout of SR4.48 billion, representing SR1.1 per share.