Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Investment Bank (SAIB) has approved a board recommendation to increase the bank’s capital by SAR 2.50 billion.

 The capital hike will be achieved through the issuance of one bonus share for every five shares held by existing shareholders.

Under the approved plan, the bank’s capital will rise from SAR 12.50 billion to SAR 15 billion, representing a 20% increase.

The total number of shares will subsequently increase from 1.25 billion to 1.50 billion. The bank stated that the expansion is funded by capitalizing SAR 1.50 billion from the statutory reserve and SAR 1 billion from retained earnings.

The primary objective of the increase is to strengthen the bank's capital base to support future growth and expansion.

The meeting, which recorded a 70.75% attendance rate, also saw shareholders approve amendments to bylaws regarding the issuance of debt instruments and board membership termination.

Eligibility for the bonus shares is set for the end of trading on 1 October 2026, for shareholders registered with the Securities Depository Center at the end of the second trading day following the assembly.

Any fractional shares will be consolidated and sold, with proceeds distributed within 30 days.