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RIYADH: Saudi's Alawwal Bank, formerly known as Saudi Hollandi Bank until a rebranding this week, has no plans to increase capital in the near future, Managing Director Bernd van Linder told reporters at a press conference on Sunday.

"We have increased our capital substantially by retaining lots of our earnings over the last couple of years," he said. "We're comfortable with the level of capital that we have today."

Other banks in the Gulf have been seeking to up their reserves to cope with new regulations for capital requirements and bolster their positions after years of steady growth. Alawwal launched a new corporate identity on Sunday in branches across the country and on its electronic banking channels.

Linder told reporters in Riyadh that the bank would place greater emphasis on digital products as part of its new identity.
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