Al Rajhi Bank has raised $1bn through an issuance of additional tier 1 capital sukuk at an annual yield of 6.15%, the Islamic lender announced via the Saudi stock exchange on January 8.

The social sustainable sukuk are callable after five years and will be listed on the London Stock Exchange, Al Eqtisadiah reported on January 8. The offering can be sold under Regulation S of the US Securities Act of 1933 as amended.

The minimum subscription was set at $200,000, targeting qualified investors both inside and outside Saudi Arabia. Al Rajhi Capital, Goldman Sachs International, HSBC, Morgan Stanley, Standard Chartered, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq, Nomura and Warba Bank were appointed as underwriting managers, with Avin Bank as co-manager.

Al Rajhi Bank maintained its position as the fastest-growing Saudi lender with profits jumping 24.6% in the third quarter of 2025. The bank recorded its tenth consecutive quarter of record earnings, supported by growth in financing and investment income alongside banking service fees.