Riyad Bank will increase its capital to SR30 billion from SR15 billion as it gives one bonus share for each held, it said in a statement.

Shares in Riyad Bank jumped 8 percent to their highest since August 2008.

The Tadawul All-Share Index rose by 56.41 points or 0.65 percent to close at 8,760.62 points.

Banks and Financial Services index rose 2.62 percent.