Riyadh – Sharikat Mubasher: Shareholders of D360 Bank recently approved a SAR 1.5 billion capital increase, cementing the lender’s position as the largest digital bank in Saudi Arabia by capital.
According to a disclosure published by Derayah Financial, one of D360’s shareholders, the capital raise will be carried out through the issuance of 72.9 million new shares at a price of SAR 20.57 per share. The proceeds are expected to support the bank’s expansion strategy and further strengthen its capital base.
This transaction values the bank at SAR 4.5 billion before the increase and SAR 6 billion upon completion. The move lifts D360’s capital, placing it ahead of other licensed digital banks in the Kingdom.
D360, Saudi Arabia’s first licensed digital bank, is backed by the Public Investment Fund, Derayah Financial, and other investors. The latest capital increase underscores growing investor confidence in the bank as it seeks to expand its footprint in the Kingdom’s rapidly evolving digital banking sector.
