Banque Saudi Fransi : Increase Banque Saudi Fransi's capital through the offer of bonus shares
January 09, 2012 at 01:43 am EST
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Banque Saudi Fransi announces the recommendation of the
Banks Board of Directors to increase the Banks capital
through the offer of bonus shares
Banque Saudi Fransi announces that the Banks Board of
Directors decided on 8 Safar 1433 (2.1.2012) ,to recommend
to the Extra Ordinary Shareholders Assembly to increase the
Banks capital by 25% from SR. 7,232,143,000 to SR.
9,040,178,750, subject to securing the competent
authorities approvals. The capital increase will be
accomplished through the grant of one bonus share vs. 4
existing shares to the benefit of the shareholders
registered in the Bank shareholders register at the closing
of negotiations on the date of the Extra Ordinary
Shareholders Assembly meeting to be held during the first
quarter, 2012. The exact date of the meeting will be
announced in due course.
The capital increase will be attained through the transfer
of SR. 1,808,035,750 (representing 25% of the capital) from
the general reserve. Accordingly, the Banks capital will
become SR. 9,040,178,750 compared with SR.7,232,143,000. In
addition, the total number of shares will increase from
723,214,300 to 904,017,875.
The capital increase will have added value and good
benefits to the Banks shareholders and it will be used to
reinforce the Banks resources which would support the
overall development in Saudi Arabia.
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Banque Saudi Fransi SJSC is a Saudi Arabia-based commercial bank. It operates through the following business segments: Retail banking, which incorporates private and small establishment customersâ demand accounts, overdrafts, loans, saving accounts, deposits, credit and debit cards, consumer loans, a number of forex products and auto leasing; Corporate banking, which incorporates corporate and medium establishment customersâ demand accounts, deposits, overdrafts, loans and other credit facilities and derivative products; Treasury, which incorporates treasury services, trading activities, investment securities, money market, Bankâs funding operations and derivative products, as well as Investment banking and brokerage, which offers investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities, retail investments products, corporate finance and international and local shares brokerage services and insurance.
BANQUE SAUDI FRANSI 
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