The shareholders of Al Rajhi Bank, Saudi Arabia’s second biggest-lender, have approved a board recommendation to issue bonus shares in the ratio 3:5, which will increase the bank’s capital by 15 billion riyals ($4 billion).

Following the bonus issue, the bank’s capital will rise 60 percent to 40 billion and will enhance its funding to achieve strong growth rates at the next years, the bank said in a Tadawul bourse filing on Monday.