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Innovest Properties, one of Saudi Arabia’s largest investment and property companies, said it has launched a SR755 million ($200 million) investment fund in partnership with Blominvest, the investment banking arm of Lebanon’s Blom Bank group. ....
Innovest Properties unveils $200mln Saudi real estate fund zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
FRA approves Bank ABC's MTO for Blom Bank Egypt zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
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The agreement is subject to further regulatory approvals in the UAE and Egypt, the statement added. Bank Audi said the proceeds from the sale will help improve its capitalisation and contribute to its financial resilience. It is also in line with directives from the Central Bank of Lebanon to Lebanese lenders to raise their capital by 20 per cent to ride out any liquidity issues amid a worsening economic crisis in the country. Lebanon s banks could risk being shut out of the market if they do not comply by the end of next month. Bank Audi Egypt has 53 branches with total assets of $5.3 billion at the end of September. FAB already has 17 branches in Egypt. ....