Latest news with #CleofeMaceda
Zawya
2 days ago
- Business
- Zawya
UAE's RAKBANK posts double-digit rise in H1 net profit to $374mln
UAE-listed lender RAKBANK posted a net profit of AED 1.374 billion ($374 million) for the first half of the year, marking a 26% growth over the same period in 2024. Net earnings for the second quarter stood at AED 669 million, also rising by 22% from a year earlier, the bank reported on Monday. The significant jump in income has been attributed to higher non-interest earnings and better credit quality. The bank's operating profit went up by 7.7% to AED 1.68 billion in the first half, while total assets also expanded by 18.1% to AED 95 billion. Gross loans and advances grew by 17.4% to AED 51.3 billion over the same period, reflecting the expansion across all segments, including wholesale banking loans, which went up by 33%. Return on equity (ROE) stood at 22.1%, an improvement from 20.4%, while return on assets (ROA) was pegged at 3.1%, up from 2.9% a year ago. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
7 days ago
- Business
- Zawya
Saudi feed producer Naf Company to debut on Nomu next week
Saudi Arabia's Naf Company for Feed Industry will list its shares on the Saudi Stock Exchange Parallel Market, Nomu next week. The shares of the animal feed producer will trade under the symbol 9644 with ISIN Code SA16B164MM11 on Sunday, July 20, 2025, the Saudi Exchange confirmed on Wednesday. The upcoming stock market debut follows the successful conclusion of Naf's initial public offering (IPO), which was 111% oversubscribed. The 20% IPO, which ran from June 22 to June 26, 2025, was set at SAR 76 ($20) per share. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
09-07-2025
- Business
- Zawya
Foreign investments in Saudi equities reached $970mln in June
Saudi Arabia's equities have seen continued international investor interest, with foreigners injecting SAR 3.64 billion ($970 million) into the kingdom's stock market in June 2025. Saudi individual investors also drove a net inflow of SAR 2.99 billion, while GCC investors recorded a net inflow of SAR 0.13 billion during the same period, according to Aljazira Capital Research. However, while foreign investors, GCC investors and Saudi individual investors acted as net buyers, institutional investors in the kingdom sold more shares than they bought, leading to a net withdrawal of SAR 6.76 billion from the stock market. The Tadawul All Share Index (TASI) ended last month at 11,164 points, marking a 1.58% growth from its previous close in May. However, the total value traded in June dipped by 7.9% to SAR 95.7 billion compared to the previous month. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
03-07-2025
- Business
- Zawya
Saudi Central Bank assets surpass $532bln
The Saudi Central Bank (SAMA) has posted around 5% growth in assets, underscoring the kingdom's growing financial reserves. Total assets as of May 2025 reached approximately SAR 2 trillion ( $532 billion), up from SAR 1.9 trillion a year ago. Foreign currencies recorded a significant increase, rising to SAR 292.8 billion in May 2025 from SAR 272.2 billion a year earlier. Miscellaneous assets surged substantially to SAR 273.8 billion from SAR 153.5 billion, while cash in vault grew to SAR 25.5 billion from SAR 22.6 billion over the same period. However, investment in foreign securities, which represent the largest asset category, dropped to SAR 969.5 billion from SAR 1 trillion. Gold holdings remained unchanged at SAR 1.6 billion. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
02-07-2025
- Business
- Zawya
Bahrain looks to raise $658mln in new bond issue
The Government of Bahrain is looking to raise BD 250 million ($658 million) in its latest development bond offering, which opens for subscription today, July 2, 2025. The new bond issue, listed on the Debt Primary Market, offers investors a fixed annual coupon rate of 6.25%, the Bahrain Bourse confirmed on Tuesday. The financial instrument matures in four years, and the annual coupon rate is paid semi-annually or every six months, providing investors with a consistent payout and the return of their investment at the end of the term. The subscription for the bond ends on Thursday, July 3, 2025. (Writing by Cleofe Maceda; editing by Seban Scaria)
