Saudi Arabia's National Commercial Bank will begin its much-anticipated initial share sale in October, a statement to the kingdom's stock market said on Sunday.
The initial public offering (IPO), expected to be one of the
National Commercial Bank, Saudi Arabia's biggest bank by assets, plans to boost its capital by 5 billion riyals ($1.3 billion) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday.
Saudi Arabia's National Commercial Bank (NCB) has invited banks to pitch for the adviser role on its highly-anticipated flotation on the kingdom's bourse, said the kingdom's top lender.
The Saudi government said last m
The largest Saudi lender by assets, National Commercial Bank (NCB), plans to issue Islamic bonds worth about SR4 billion ($1.1 billion), the bank's chairman said, part of a wave of bank capital raising in the kingdom.
Abu Dhabi-based private equity firm Gulf Capital signed a 450 million riyals ($120 million) loan facility with Saudi Arabia's National Commercial Bank to finance its first real estate project in the kingdom, it said on Sunday.
Saudi Arabia's National Commercial Bank (NCB), the kingdom's biggest bank by assets, posted a 12.9 per cent rise in its second-quarter net profit, the lender said on Wednesday.
State-owned NCB made a net profit of SR1.6 bi
Turkish Islamic bank Turkiye Finans, which is majority-owned by Saudi's National Commercial Bank, said its net profit rose 61 per cent year-on-year to 145 million lira ($80.3 million) in the first half.
The bank has also
The construction sector in Saudi Arabia witnessed solid growth during the first quarter with contracts worth SR49.7 billion ($13.3 billion) being awarded in the Kingdom compared to SR8.8 billion ($2.34 billion) contracts last year, said a report.
Saudi Arabia will post a SR95 billion ($25 billion) surplus this year, despite its record spending plans, based on an average oil price of $95 per barrel, a state-owned bank said on Saturday.
The biggest Arab economy rolled out its third c
National Commercial Bank (NCB), Saudi Arabia's biggest bank by assets, posted a 6.4 percent rise in its first-quarter net profit, the lender said in an emailed statement on Tuesday.
State-owned NCB made a net profit of 1.5 billion Saudi ri