Bloomberg News

Banque Saudi Fransi Seeks to Raise Capital 25% Via Bonus Shares

January 03, 2012

Jan. 2 (Bloomberg) -- Banque Saudi Fransi, a Saudi lender part-owned by Credit Agricole SA, plans to raise its capital by 25 percent via distributing one free share for every four held.

The bank’s board recommended increasing the capital to 9 billion riyals from 7.23 billion riyals, it said in a statement to the Saudi bourse today.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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