10 Saudi Banks File Claims for $2.4 Billion From Algosaibi
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Ahmad Hamad Algosaibi & Brothers Co., a holding company with interests from bottling to finance, may owe $2.4 billion to 10 Saudi Arabian banks, according to filings by the lenders to the country’s Committee for the Settlement of Banking Disputes.
The Saudi Investment Bank submitted the largest claim of 2 billion riyals ($533 million), according to filings obtained by Bloomberg News. Al Rajhi Bank and National Commercial Bank filed for 1.5 billion riyals each, the documents show.