
PIF's THC inks SAR 600M Islamic facility deal with ANB
The financing represents a major boost to the company's loan structure through a long repayment period of eight years, supporting its ambitions to meet changing needs, enhance its flexibility to capitalize on strategic growth opportunities, and enable it to expand into other markets and services, the company said, in a statement.
It added that the financing allows it to solidify its operational strength and effectively adapt to market changes and respond quickly and effectively to its requirements and promising future opportunities.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arab News
8 hours ago
- Arab News
CARE KSA powers Kingdom's $266bn vision for sustainable future
Trescon has unveiled the Saudi edition of CARE — the Climate Action and Renewable Energy Expo, debuting in Riyadh on Dec. 8–9. This is in response to Saudi Arabia's ambitious clean energy and sustainability vision and the global urgency for climate solutions. As a cornerstone of the global CARE series — alongside editions in India and Dubai — the Saudi edition is dedicated to advancing climate action, clean energy adoption, and sustainable finance through meaningful public-private collaboration. With 10,000+ attendees, 950 investors, 225 sponsors, and 200+ global speakers expected across the series, CARE is built for action, driving transformative dialogue, deal-making, and cross-border partnerships across more than 100 countries. CARE KSA will bring together global innovators and Saudi stakeholders to accelerate tangible outcomes in renewables, climate tech, and green finance, says Naveen Bharadwaj, Group CEO of Trescon The series opened with the CARE Dialogues on June 24 — an exclusive, invite-only session, held in Dubai under the theme 'Green Finance and Beyond: Driving ESG Across Sectors.' Powered by Emtribe, the event convened senior leaders from finance, policy, and technology to explore practical strategies for embedding ESG into core business models. 'As a partner of CARE, we're proud to back a platform that focuses on what really matters — getting the right people in the room and driving honest, outcome-focused conversations,' said Mohammed Saleem, founder of Emtribe. He added: 'There's a lot of talk in this space. CARE stands out by pushing for action that's practical, collaborative, and needed.' As the first official prelude to CARE, the session set the tone for cross-sector collaboration and is helping shape a summit agenda grounded in real-world priorities and regional relevance. Saudi Arabia is driving a transformative energy shift. Under Vision 2030, the Kingdom has committed more than $266 billion to renewable energy and sustainable development, aiming for 50 percent renewable electricity by 2030.


Arab News
8 hours ago
- Arab News
SAB named ‘best bank' in Saudi Arabia for 2025
Saudi Awwal Bank, one of the leading banks in the Kingdom, has been named 'Best Bank in Saudi Arabia for 2025' by Euromoney, recognizing the bank's strong financial performance, continued digital advancement, and commitment to social responsibility over the past year. In 2024, SAB reported a net profit of SR8.07 billion ($2.15 billion), a 15 percent increase over the previous year. Its operating income reached SR14 million, supported by a 16 percent return on tangible equity, reflecting consistent performance and effective capital deployment. Lending remained a key area of growth, with net loans and advances rising by 20 percent to reach SR259 billion, in line with SAB's strategy to support the financing needs of individuals and businesses across the Kingdom. SAB continued to strengthen its digital capabilities, expanding its share of the digital payments market to 17.3 percent. The bank launched SAB 360°, an AI-powered platform offering clients real-time financial insights and streamlined onboarding processes through an enhanced KYC platform, reducing processing time by 40 percent. It also maintained its focus on convenience and security by being one of the early adopters of Samsung Pay in the local market. In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership. The bank also progressed its ESG agenda, financing renewable energy projects generating a combined 4.5 GW of clean energy capacity, and introduced Shariah-compliant ESG investment solutions for private banking clients. Tony Cripps, managing director and CEO of SAB, said: 'This award reflects the strength of our business model, the dedication of our people, and our commitment to leading with purpose. We are proud to play a key role in shaping the future of banking in the Kingdom and supporting national transformation.' The recognition reinforces SAB's position as a trusted financial partner, focused on delivering long-term value to its customers, shareholders, and the broader financial ecosystem in the Kingdom.


Argaam
11 hours ago
- Argaam
PIF's THC inks SAR 600M Islamic facility deal with ANB
The Helicopter Co. (THC), a wholly-owned subsidiary of the Public Investment Fund (PIF) and the largest commercial helicopter operator in Saudi Arabia, signed a SAR 600 million Islamic credit facility agreement with Arab National Bank (ANB). The financing represents a major boost to the company's loan structure through a long repayment period of eight years, supporting its ambitions to meet changing needs, enhance its flexibility to capitalize on strategic growth opportunities, and enable it to expand into other markets and services, the company said, in a statement. It added that the financing allows it to solidify its operational strength and effectively adapt to market changes and respond quickly and effectively to its requirements and promising future opportunities.