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RIYADH: ��������’s Tadawul All Share Index fell on Thursday, dropping 76.14 points, or 0.7 percent, to close at 10,732.31.

Total trading turnover reached SR3.94 billion ($1.05 billion). Of the traded stocks, 59 advanced while 190 declined.

The MSCI Tadawul 30 Index lost 9.06 points, or 0.65 percent, to settle at 1,384.65. 

The parallel market, Nomu, however, ended higher, gaining 122.07 points, or 0.47 percent, to 26,303.65, with 46 gainers and 42 losers.

The day’s top performer was Sport Clubs Co., which gained 5.28 percent to close at SR11.76. 

Other gainers included Arab National Bank, up 4.31 percent to SR23.50; Middle East Paper Co., rising 3.67 percent to SR28.28; and Nice One Beauty Digital Marketing Co., which climbed 3.07 percent to SR25.20.

Leading decliners were Thimar Development Holding Co., down 3.94 percent to SR42.46, followed by Saudi Company for Hardware, which fell 3.39 percent to SR28.50. Riyadh Cables Group Co. dropped 3.23 percent to SR129, while Saudi Kayan Petrochemical Co. declined 3.21 percent to SR5.12.

On the announcements front, Saudi Awwal Bank announced the completion of its $1.25 billion Tier 2 Capital Green Notes issuance, according to a statement published on the Saudi Exchange.

The offering was carried out under the bank’s medium-term note program and was extended to eligible investors in �������� and internationally.

The notes, which are denominated in US dollars, carry a fixed annual return of 5.947 percent and will mature in 10 years, with a call option after five years. The issuance included 6,250 notes, each with a par value of $200,000.

Settlement of the notes is scheduled for Sept. 4.

The bank noted that the issuance reflects its ongoing efforts to support environmental sustainability while enhancing its capital base in line with regulatory requirements and long-term strategic objectives.

Saudi Awwal Bank’s share price decreased by 0.53 percent to close at SR30.16.

Alinma Bank also completed the offering of its $500 million US dollar-denominated Sustainable Additional Tier 1 Capital Certificates under its dedicated issuance program, the bank announced on Wednesday via the Saudi Exchange.

The issuance, launched on Aug. 27, was offered to eligible investors both within �������� and internationally. Settlement is expected to take place on Sept. 3.

According to the bank, a total of 2,500 certificates were issued, each with a par value of $200,000. The certificates carry a fixed annual return of 6.25 percent and are structured as perpetual instruments, meaning they do not have a fixed maturity date but are callable after five and a half years.

The offering forms part of Alinma Bank’s long-term capital strategy to bolster its capital base and support sustainable growth. The proceeds from the issuance are expected to align with the bank’s broader environmental, social and governance commitments, although specific project allocations have not been disclosed.

The certificates were issued under the bank’s Additional Tier 1 Capital Certificate Issuance Programme, which provides flexibility in redemption terms as outlined in the official offering circular.

Based in Riyadh, Alinma Bank is one of the Kingdom’s leading Shariah-compliant financial institutions, offering a full suite of retail, corporate, investment and treasury services.

Alinma Bank’s share price decreased by 1.10 percent to close at SR25.20.

On a broader perspective, Saudi Exchange approved Merrill Lynch Kingdom of �������� to begin market making activities on 18 listed securities across both the Main Market and Nomu – Parallel Market, effective Aug. 28.

The approval, announced on Wednesday, enables the financial institution to support liquidity and trading volumes on a diversified range of securities listed on both platforms. The move is expected to enhance market efficiency and provide investors with tighter spreads and improved access to selected equities.

Among the approved securities in the Main Market are Umm Al Qura for Development and Construction Co., Saudi Aramco Base Oil Co., Miahona Co., Arabian Drilling Co., and Saudi Research and Media Group. In the Nomu – Parallel Market, approved entities include Gas Arabian Services Co., Canadian Medical Center Co., and Edarat Communication and Information Technology Co.

Each security carries specific market making obligations in terms of minimum order presence, order size, spread limits, and minimum value traded requirements, tailored to reflect the trading dynamics and liquidity needs of the individual stocks.

For instance, market making obligations for Umm Al Qura for Development and Construction Co. and Saudi Aramco Base Oil Co. include a minimum presence of orders of 80 percent, a minimum size of $150,000, and a maximum spread of 0.65 percent.

Meanwhile, securities on the parallel market such as AME Company for Medical Supplies and Purity for Information Technology Co. are subject to a minimum order presence of 50 percent, a minimum size of $50,000, and a spread cap of 5 percent.

The announcement reflects Saudi Exchange’s commitment to bolstering secondary market activity and increasing market depth as part of the kingdom’s broader strategy to advance capital market development under Vision 2030.

This approval covers only a portion of the 18 securities and demonstrates the exchange’s ongoing efforts to attract more market participants and create a more robust trading environment.

RIYADH: Loan and financing provisions across Qatari banks rose to 33 billion Qatari riyals ($9.06 billion) in July, up from 32.8 billion riyals during the same month last year.

Data from Qatar Central Bank also showed that expected credit losses surged 15.9 percent year on year, reaching 19.95 billion riyals by the end of July.

The increase reflects cautious lending practices and adjustments to credit risk assessments amid shifting market conditions.

The overall value of loans and credit facilities provided by Qatari banks grew 5.3 percent on an annual basis, amounting to 1.41 trillion riyals at the end of July. Of this total, 423.4 billion riyals was directed toward the public sector.

The increase in provisions and credit loss estimates comes amid broader regional economic developments, with Gulf countries maintaining growth momentum supported by ongoing diversification efforts and public spending programs.

In January, S&P Global anticipated a continued strong performance from Qatar’s banking sector in 2025.

This stability is attributed to robust capital buffers, ample liquidity and support from increased LNG production — positively impacting both hydrocarbon and non-hydrocarbon credit growth.

The report also expected local funding sources to increasingly support credit expansion, amid slower public sector deleveraging.

According to a report from Qatar-based Bait Al Mashura Finance Consultations in June, Qatar’s Islamic finance sector continued its growth in 2024, with total assets rising 4.1 percent year on year to reach 683 billion riyals.

Islamic banking assets alone grew 3.9 percent to 585.5 billion, while deposits surged 8.2 percent to 339.1 billion.

Financing increased 4.9 percent to 401.5 billion, with revenues up 12.6 percent and profits climbing 6 percent to 8.7 billion riyals.