Banque Saudi Fransi is planning to raise new funds to meet its general banking purposes through US dollar-denominated Tier 2 capital notes.

The issuance, which is part of its medium-term note programme, is expected to be made to a special purpose vehicle to eligible investors in the Kingdom and internationally.

Abu Dhabi Commercial Bank, Citigroup, DBS Bank, Emirates NBD Bank, HSBC Bank, Mashreqbank, Mizuho International and Saudi Fransi Capital have been appointed as joint lead managers.

The offering is subject to the approval of the regulatory authorities.

The terms of the issuance and the amount to be raised were not given.

In July the bank recorded net profit of SAR 2.74 billion in the first half of 2025, an annual rise of 20% from SAR 2.27 billion a year ago.

Its board has recommended a cash dividend of SAR 1.4 billion, representing 5.5% of its share capital, for the first half of 2025.

(Editing by Seban Scaria seban.scaria@lseg.com)