Home Industry Finance Saudi’s National Commercial Bank Q3 Net Income Up 7.8% NCB, which is currently undertaking the largest ever IPO in the GCC, made $498.4 million in the three months to September 30. by Reuters October 22, 2014 National Commercial Bank (NCB), Saudi Arabia’s largest lender by assets, posted a 7.8 per cent increase in third-quarter net income, it said in a statement on Wednesday. NCB, which is currently undertaking the largest ever initial public offering in the Gulf Arab region, made SAR1.87 billion ($498.4 million) in the three months to September 30, up from SAR1.73 billion in the same period last year. The bank began a two-week subscription period on Sunday for its SAR22.5 billion ($6 billion) share sale. It has also said it would convert into a fully-fledged Islamic bank in around five years, after coming under pressure from sharia scholars in the Kingdom. 0 Comments
