Saudi Arabia's National Commercial Bank, the kingdom's biggest lender by assets, plans to raise SR22.5 billion ($6 billion) in the initial public offering (IPO) it will launch this month, the bank said in a statement.
National Commercial Bank, which later this year is expected to list its shares in one of Saudi Arabia's largest initial public offers, posted a 22 per cent jump in second-quarter net profit on Sunday.
The kingdom's biggest
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 government will sell a 15-percent stake in National Commercial Bank (NCB) , the country's largest lender by assets, in an initial public offering, Finance Minister Ibrahim al Assaf was quoted as saying on Thursday.
National Commercial Bank (NCB), Saudi Arabia's largest lender, has completed a 5 billion-riyal ($1.3 billion) Islamic bond issue, two banking sources said on Wednesday.
The transaction is the largest of its kind in the kingdom
Saudi Arabia's largest lender, National Commercial Bank, has picked four banks to arrange a local currency sukuk that will boost its capital, a document from lead managers said on Thursday.
NCB had mandated itself as well as t
Leading banks HSBC and NCB Capital have successfully completed the SR15.21 billion ($4.05 billion) Islamic bond for the Saudi Arabian General Authority of Civil Aviation (GACA).
The largest-ever government guaranteed Islamic bond in the
Saudi Arabia's largest lender by assets, National Commercial Bank (NCB), posted a 19.4 per cent increase in first-quarter net profit on the back of higher special commission and fee income, it said on Sunday.
The majority stat
Saudi retail sector is poised for strong earnings growth mainly due to expansion through opening stores, margin support from economies of scale and consolidation of fragmented markets, all of which are key drivers of profit growth, said a report
Saudi Arabia’s housing stock is expected to expand by 2.4 million units in the next 10 years, marking a rise of 52 per cent from 4.6 million units in 2010, a report said.
A growing population entering the marriageable age, an expa