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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Banque Saudi Fransi    1050   SA0007879782

BANQUE SAUDI FRANSI

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Saudi Prince Alwaleed has invested billions in companies around globe

11/05/2017 | 09:23am EST

DUBAI (Reuters) - The detention of Saudi Arabia's Prince Alwaleed bin Talal, known for his big bets on Citigroup (>> Citigroup) and other top Western companies, could have an impact on billions of dollars of investments around the world.

DUBAI (Reuters) - The detention of Saudi Arabia's Prince Alwaleed bin Talal, known for his big bets on Citigroup (>> Citigroup) and other top Western companies, could have an impact on billions of dollars of investments around the world.

For many foreigners, Prince Alwaleed - whose net worth has been estimated by Forbes magazine at $17 billion(£13 billion) - is the face of Saudi business, appearing frequently on international television and in articles on his investments and lifestyle.

A 2013 Forbes magazine profile described his marble-filled, 420-room Riyadh palace, a private Boeing 747 equipped with a throne, and his 120-acre resort on the edge of the Saudi capital with five homes, five artificial lakes and a mini-Grand Canyon.

He is also known for his outspoken views on politics - making headlines in 2015 when he called Donald Trump a "disgrace" on Twitter during the U.S. election campaign.

Prince Alwaleed's investments, current and future, may now be in doubt after he was detained in an investigation by a new Saudi anti-corruption body.

"There will be questions on what this all means," said a senior executive at a European financial institution, who visited Riyadh late last month to attend a big international conference promoting Saudi Arabia as an investment destination.

"People will be looking at any kind of international holdings of the people who have been arrested, to see what will be the impact."

Aside from a stake in Citigroup, Prince Alwaleed, 62, owns significant stakes in Twitter (>> Twitter Inc), ride-hailing firm Lyft and Time Warner (>> Time Warner).

His investment firm Kingdom Holding (>> Kingdom Holding Company) - whose share price plunged 10 percent on Sunday in response to news of his detention - recently bought about half of a 31.1 percent stake in Saudi lender Banque Saudi Fransi (>> Banque Saudi Fransi SJSC) from France's Credit Agricole (>> Crédit Agricole).

FINANCE MINISTER'S SON

Prince Alwaleed's father was the kingdom's finance minister during the 1960s. Prince Alwaleed formed Kingdom Holding in 1979, initially pouring money into real estate in Riyadh; in the 1990s he ventured into Wall Street, investing heavily in Citigroup.

He had a close relationship with former Citigroup Chief Executive Sanford "Sandy" Weill, and has nurtured close ties with other Wall Street leaders including Goldman Sachs (>> Goldman Sachs Group) CEO Lloyd Blankfein.

Prince Alwaleed increased his stake in Citigroup at the height of the global financial crisis a decade ago and he has held on to the stake, saying as recently as last month that he was very happy with the investment.

"He's always been a colourful and unofficial public face of Saudi Arabia, though he has never been a key decision-maker in the kingdom," a Gulf-based businessman said.

During the U.S. election campaign, Prince Alwaleed demanded that Trump withdraw from the election campaign after the candidate pledged to ban Muslims' entry into the United States.

Trump responded by tweeting that the Saudi prince wanted to control "our politicians with daddy's money. Can't do it after I get elected."

After Trump's election victory, Prince Alwaleed said whatever their past differences, America had spoken, and he congratulated Trump on his victory.

Prince Alwaleed was an early advocate of women's employment in Saudi Arabia and a lifting of the ban on women driving. In September, King Salman ordered that the ban should be lifted next year.

(Editing by Andrew Torchia and Keith Weir)

By Saeed Azhar and Tom Arnold


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
BANQUE SAUDI FRANSI 1.32% 34.45 End-of-day quote.9.02%
CITIGROUP INC. -6.93% 64.23 Delayed Quote.4.17%
CRÉDIT AGRICOLE SA 1.03% 10.28 Real-time Quote.-0.39%
KINGDOM HOLDING COMPANY 0.51% 7.82 End-of-day quote.-1.64%
LETS HOLDINGS GROUP CO., LTD. -0.13% 7.71 End-of-day quote.-0.90%
LOOK HOLDINGS INCORPORATED 0.00% 921 End-of-day quote.-3.76%
THE GOLDMAN SACHS GROUP, INC. -2.23% 301.01 Delayed Quote.14.14%
WORLD CO., LTD. 2.62% 1291 End-of-day quote.3.03%
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Financials
Sales 2020 7 033 M 1 875 M 1 875 M
Net income 2020 2 028 M 541 M 541 M
Net Debt 2020 - - -
P/E ratio 2020 18,9x
Yield 2020 1,75%
Capitalization 41 316 M 11 014 M 11 015 M
Capi. / Sales 2020 5,87x
Capi. / Sales 2021 5,76x
Nbr of Employees 2 883
Free-Float 55,5%
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Number of Analysts 11
Average target price 28,74 SAR
Last Close Price 34,45 SAR
Spread / Highest target 7,40%
Spread / Average Target -16,6%
Spread / Lowest Target -41,9%
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Rayan bin Mohammed Fayez Chief Executive Officer & Managing Director
Mazen Abdul Razak Sulaiman Al-Romaih Chairman
Thamer M. Yousef Chief Operating Officer & Head-Information Systems
Abdullah Ali Al Khalifa Chief Financial Officer
Khalid Hamed Hamed Al-Mutabagani Independent Director
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