Riyad Bank — Capital/Financing Update 2017

Feb 14, 2017

Riyad Bank announces establishment of a Special Purpose Vehicle entity for its financial derivatives activities.

1010 · 14/02/2017 15:39:02 · Announcement #45585 · View on Saudi Exchange

Riyad Bank announces establishment of a Special Purpose Vehicle entity for its financial derivatives activities.

Riyad Bank announces the completion of the establishment of a special purpose company under the name of (Riyad Financial Markets Ltd.), after obtaining the No Objection from Saudi Arabian Monetary Agency on 10.08.1437 H. It is a limited liability company, fully owned by the bank and registered with authorized capital of USD 50,000 (equivalent to SAR 187,500), based in Cayman Islands. The company will be engaged and execute financial derivatives transactions and repurchase agreements with international banks.

We also wish to inform shareholders that it has no financial impact affect the financial statements of the Bank.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.