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FINANCIAL NEWS
Samba, commercial bank to fund VIVA Bahrain
03 Feb 2011
(MENAFN) The VP Finance of Saudi Telecom Co. (STC), Ameen Al-Shiddi, said that the company signed a deal with Saudi-based Samba Financial Group along with a commercial bank, to fund Shariah-complaint financing facility, the project of STC’s entirely owned subsidiary, VIVA Bahrain, with a total of $280 million over a 7-year period, reported Arab News.
Al-Shiddi said that Samba Financial Group and the commercial bank are considered the two most reputable financial institutions in the Gulf.
Al-Shiddi said that $100 million are going to be provided by the bank while Samba would pay the rest $180 million. The payment is going to be mostly in US dollars due to its low cost of financing for the American currency.
Al-Shiddi added that STC plans on increasing its international operations as an attempt to accomplish its goal of strengthening the group’s overall profitability.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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