Saudi's Bank Albilad plans 1-2 billion riyal sukuk issue in Q2 -CNBC

February 10, 2016 8:13 AM

1 0

DUBAI Feb 10 Saudi Arabia's Bank Albilad plans to issue 1 to 2 billion riyals ($267-533 million) of sukuk by the end of the second quarter of 2016 to finance expansion, chief executive Khaled al-Jasser told CNBC Arabia.

The bank plans to open 25 new branches and hire more employees, which Jasser said would likely increase costs this year by 15 to 17 percent.

Also read: HSBC plans to inject $1 bln into Indonesia business

Read more

To category page