The Arab National Bank(1080.SA) announced on 07/02/2024 a significant decision by its Board of Directors to propose a capital increase through the distribution of bonus shares, subject to approval at the forthcoming extraordinary general assembly. The bank intends to increase its capital from SAR 15 billion to SAR 20 billion, marking a 33.33% rise. This capitalization will involve granting one bonus share for every three shares held by shareholders, leveraging SAR 5 billion from retained earnings and statutory reserves to facilitate this growth. The eligibility for receiving bonus shares is determined by share ownership at the close of the extraordinary general assembly meeting day, with further details on the assembly date to be announced. The bank has already secured a no-objection from the Saudi Central Bank for this proposed increase, moving forward with the necessary official approvals.