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#Saudi Arabian Hospitality Firms Weigh $2.4 Billion Merger - Bloomberg

Saudi Arabian Hospitality Firms Weigh $2.4 Billion Merger - Bloomberg Taiba Investment Co. and Dur Hospitality Co. are in talks to combine their businesses, potentially forming a company with a market value of about $2.4 billion in Saudi Arabia’s real estate, hospitality and investment industry.Taiba, which has a market capitalization of 5.5 billion riyals ($1.5 billion), operates as an investment company in sectors ranging from real estate and tourism. Dur, valued at 3.5 billion riyals, is ma...
Tags: Travel, Saudi Arabia, Bloomberg, Belgium, North West, Taiba, Riyad Bank, Rupert Neil Bumfrey, Samba Financial Group, Public Investment Fund, National Commercial Bank, NEOM, Dur, Red Sea Development, Saudi Fisheries Co, Saudi Arabian Hospitality Firms Weigh


MIDEAST DEBT- #UAE sukuk standards slow issuance, distort prices, investors say | Reuters

MIDEAST DEBT-UAE sukuk standards slow issuance, distort prices, investors say | Reuters The adoption by the United Arab Emirates of certain sharia-compliance standards has slowed the issuance of Islamic bonds from the Gulf, adding to a chronic supply-demand imbalance, market sources said.Dubai, one of the UAE’s seven emirates, has long aimed to establish itself as a major global centre for issuance of sukuk, or Islamic bonds, that constitute the backbone of the $2.2 trillion global Islamic fin...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Bahrain, Uae, Gulf, Reuters, HSA, Rupert Neil Bumfrey, National Commercial Bank, Bashar Al Natoor, Higher Sharia Authority, Fitch Ratings The Higher Sharia Authority HSA


Review: #Saudi banks' Q1 aggregate net income up 20% on year | ZAWYA MENA Edition

Review: Saudi banks' Q1 aggregate net income up 20% on year | ZAWYA MENA Edition The cumulative net income of Saudi Arabia’s listed banks in the first quarter of 2021 excluding Samba Financial Group, improved 20 percent year-on-year on the back of lower provisions, higher non-financing income and improved efficiency, said Al Rajhi Capital in a note.The Riyadh-based investment bank said, however, that net interest margin (NIM) fell due to the low interest rate environment and the decline in mor...
Tags: Travel, Saudi Arabia, Riyadh, NPA, NIM, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Banque Saudi Fransi, Al Rajhi Capital, Saudi Central Bank, Saudi National Bank, Al Rajhi Bank Albilad, Alinma Banks, Al Rajhi Albilad


#Saudi National Bank posts 20% rise in quarterly profit | Reuters

Saudi National Bank posts 20% rise in quarterly profit | ReutersSaudi National Bank (SNB), the country’s biggest lender, posted a 20.3% rise in first-quarter net profit on Monday with lower impairments and higher fees, in a sign that the economy has been recovering from last year’s pandemic lockdowns.SNB reported a net profit of 3.4 billion riyals ($907 million) for the quarter that ended on March 31, up from 2.8 billion riyals in the same period a year earlier.EFG Hermes had forecast a net prof...
Tags: Travel, Saudi Arabia, SNB, Reuters, Moody, EFG Hermes, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Saudi National Bank, ReutersSaudi National Bank SNB


S&P raises long-term credit rating of #Saudi National Bank | The National

S&P raises long-term credit rating of Saudi National Bank | The NationalS&P Global Ratings raised the long-term issuer credit rating of National Commercial Bank, which last week became Saudi National Bank following its merger with smaller rival Samba Financial Group.NCB’s 'A-' rating and stable outlook reflects on the strength of the merged SNB entity, which received a GCC regional scale rating of 'gcAAA', S&P said in statement on Sunday. It withdrew its rating on Samba after its assets and liab...
Tags: Travel, SNB, Samba, NCB, Rupert Neil Bumfrey, National Commercial Bank, Saudi National Bank, Samba Financial Group NCB


#Dubai Islamic Bank hires lenders to arrange Islamic bonds issue - document | ZAWYA MENA Edition

Dubai Islamic Bank hires lenders to arrange Islamic bonds issue - document | ZAWYA MENA EditionDubai Islamic Bank, the largest Islamic lender in the United Arab Emirates, has hired banks to arrange a planned benchmark issuance of U.S. dollar-denominated Additional Tier 1 sukuk, a document showed on Monday.Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and Standard Chartered will arrange fixed income investor calls starting on Monday, a document from one of the banks showed....
Tags: Travel, Saudi Arabia, Standard Chartered, United Arab Emirates, Gulf, Reuters, DIB, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank, MENA EditionDubai Islamic Bank


NCB and Samba complete merger deal to create #SaudiArabia's biggest lender | The National

NCB and Samba complete merger deal to create Saudi Arabia's biggest lender | The NationalThe deal to merge Saudi Arabia’s biggest retail lender National Commercial Bank and it smaller rival Samba Financial Group is now complete, with Samba shareholders receiving new shares in the merged entity.Saudi National Bank, the merged banking institution that formally began operations on April 1, said in a statement the shares issued to former Samba shareholders are now listed on the Saudi stock exchange....
Tags: Travel, Saudi Arabia, SNB, Samba, NCB, Saudi stock exchange, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Saudi National Bank


#Dubai Islamic Bank plans to sell AT1 Islamic bonds - sources | ZAWYA MENA Edition

Dubai Islamic Bank plans to sell AT1 Islamic bonds - sources | ZAWYA MENA EditionDubai Islamic Bank, the United Arab Emirates' largest Islamic lender, plans to tap the international debt markets with U.S. dollar-denominated Additional Tier 1 (AT1) sukuk, or Islamic bonds, as soon as this week, two sources said on Monday.AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature but issuers can call them after a specified period.DIB, which raised $1 billion v...
Tags: Travel, Saudi Arabia, Qatar, Rupert Neil Bumfrey, Dubai Islamic Bank, National Bank of Kuwait, National Commercial Bank, Boubyan Bank, Ahli Bank, Commercial Bank Kuwait


Mideast Stocks: Saudi National Bank buoys #Saudi shares; other markets mixed | ZAWYA MENA Edition

Major Gulf markets ended mixed on Sunday, with the Saudi index boosted by gains in its top lender following a dividend proposal and new board appointees.Saudi Arabia's benchmark index rose 0.7%, buoyed by a 3.6% jump in Saudi National Bank1180.SE , previously known as National Commercial Bank.The lender on Sunday appointed Ammar Abdul Wahed Al Khudiry as chairman, while Saeed Mohammed Alghamdi was named as managing director and CEO.In a separate bourse filing, the lender said it would pay out mo...
Tags: Travel, Saudi Arabia, Qatar, Pwc, Dubai, Abu Dhabi, Doha, Gulf, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Albilad Capital, Qatar National Bank the Gulf, Abu Dhabi Islamic Bank ADIB ADIB, International Holding, Saudi National Bank


Mideast Stocks: Most major Gulf markets gain; #Qatar eases | ZAWYA MENA Edition

Mideast Stocks: Most major Gulf markets gain; Qatar eases | ZAWYA MENA EditionMost major stock markets rose in early trade on Sunday, with the Saudi index helped by gains from its top lender, although Qatar bucked the trend to trade lower.Saudi Arabia's benchmark index increased 0.2%, supported by a 2% gain in Saudi National Bank, earlier known as National Commercial.On Thursday, National Commercial Bank and Samba Financial Group announced the formal completion of their merger to create largest ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Mena, Mideast, Qatar Qatar, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Statistics Authority, Saudi National Bank, Ammar Abdul Wahed Al Khudiry, Dubai Islamic Bank Dubai


Most markets rise, #Saudi extends gains on large private investment push | Reuters

Most markets rise, Saudi extends gains on large private investment push | ReutersMost major stock markets rose in early trade on Thursday, with the Saudi index extending gains from the previous session following a behemoth private investment push by the kingdom.The kingdom’s crown prince said oil firm Aramco and petrochemical firm SABIC would lead 5 trillion riyals ($1.33 trillion) of investments by the local private sector by 2030 under a programme announced on Tuesday for economic diversificat...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Reuters, Riyadh, Aramco, Saudi Aramco, Tadawul, Mohammed bin Salman, SABIC, Gulf Arab, Qatar Islamic Bank, Emaar, Rupert Neil Bumfrey


Mideast Stocks: Major Gulf markets gain in early trade | ZAWYA MENA Edition

Mideast Stocks: Major Gulf markets gain in early trade | ZAWYA MENA EditionMost major stocks in the Gulf gained in early trade on Sunday, as hopes for a global economic recovery overshadowed the continued blockage of one of the world's most vital shipping lanes by a giant container ship.Oil prices, a key catalyst for the Gulf region's financial shares, rose more than 4% on Friday on worries global supplies of crude and refined products could be disrupted for weeks as workers try to dislodge the ...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Doha, Gulf, Emirates NBD, Rupert Neil Bumfrey, Industries Qatar, Saudi Basic Industries, National Commercial Bank, S P Global, Major Gulf, ZAWYA MENA, COVID


MIDEAST STOCKS- #Dubai index leads most of Gulf lower; Egypt extends gains | Nasdaq

Most Gulf markets ended lower on Thursday as new coronavirus restrictions in Europe revived worries about demand for oil products, while stocks trading ex-dividend hit bourses in United Arab Emirates.In Dubai, the main share index .DFMGI dropped 0.8%, with sharia-compliant lender Dubai Islamic Bank DISB.DU sliding 4.2%, its biggest intraday fall since mid-December, as the stock went ex-dividend.The index snapped three consecutive weekly gains, shedding 4.2% during the week.Dubai's economy, which...
Tags: Travel, Europe, New York, Saudi Arabia, Qatar, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, SPAC, Tasi, Rupert Neil Bumfrey, QSI, National Commercial Bank


MIDEAST STOCKS-Most Gulf markets fall in early trade; #Qatar rises | Nasdaq

MIDEAST STOCKS-Most Gulf markets fall in early trade; Qatar rises | NasdaqMajor stock markets in the Gulf traded lower on Monday, pressured by financial shares amid falling oil prices, although Qatar bucked the sombre mood to open higher.Oil prices, a key catalyst for the Gulf region's financial markets, edged lower on renewed concerns that European lockdowns may slow an anticipated recovery in demand for fuel products. O/RSaudi Arabia's benchmark index .TASI fell 0.3%, with National Commercial ...
Tags: Travel, Qatar, Dubai, Abu Dhabi, Gulf, Aramco, Adi, Tasi, AED, EFG Hermes, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, First Abu Dhabi Bank FAB, Dana Gas DANA, Dubai Islamic Bank DISB


Mideast Stocks: Property shares buoy #Dubai; #Qatar extends losses | ZAWYA MENA Edition

Major stock markets in the Gulf rose in early trade on Sunday, with indexes in the Dubai leading the gains on the back of their property shares, while Qatar bucked the trend to open lower.In Dubai, the index opened 0.7% higher, on track to extend gains for a third consecutive session, led by a 0.8% increase in blue-chip developer Emaar Properties, and a 0.6% gain in sharia-compliant lender Dubai Islamic Bank.Dubai government said on Saturday it plans to increase its tourism and hotel capacity by...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Gulf, Reuters, Emaar Properties, Qatar National Bank, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, First Abu Dhabi Bank, Dubai Islamic Bank Dubai government


Mideast Stocks: Most Gulf stocks gain; blue-chip selloff dents Egypt | ZAWYA MENA Edition

Mideast Stocks: Most Gulf stocks gain; blue-chip selloff dents Egypt | ZAWYA MENA EditionMost stock markets in the Gulf ended higher on Wednesday, supported by gains in the banking sector, while Egyptian stocks retreated due to a broad selloff in blue-chip shares.Saudi Arabia's benchmark index climbed 1.3%, with Al Rajhi Bank gaining over 3% and National Commercial Bank 1180.SE climbing 3.6%.Oil-rich Gulf Cooperation Council (GCC) countries, whose state coffers have been battered by the COVID-19...
Tags: Travel, Saudi Arabia, Opec, Egypt, Dubai, Abu Dhabi, Gulf, Gulf Cooperation Council GCC, Etisalat, Emaar, Rupert Neil Bumfrey, Dubai Islamic Bank, National Commercial Bank, Al Rajhi Bank, S P Global Ratings, Emirates NBD Bank


MIDEAST STOCKS- #Saudi shares ease following reports of attacks on oil facilities | Nasdaq

Major stock markets in the Gulf traded mixed early on Monday, with financials and energy shares weighing on Saudi Arabia following reports of attacks on the country's oil heartland with drones and missiles.Yemen's Houthi forces fired drones and missiles at the heart of Saudi Arabia's oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.Saudi Arabia's benchmark index .TASI eased 0.3%, ...
Tags: Travel, Saudi Arabia, Dubai, Yemen, Gulf, Riyadh, Saudi Aramco, Tasi, Rupert Neil Bumfrey, National Commercial Bank, Helima Croft, MENA Research, Emaar Properties EMAR, Ras Tanura, RBC Capital Markets Meanwhile Brent


MIDEAST STOCKS-Major Gulf markets ease in early trade; #Qatar gains | Nasdaq

MIDEAST STOCKS-Major Gulf markets ease in early trade; Qatar gains | Nasdaq Most Gulf stock markets fell in early trade on Thursday, with the Dubai index pressured by its largest lender trading ex-dividend, although Qatar snapped two consecutive sessions of losses.In Dubai, the index .DFMGI fell 1%, on course to end a five-session winning streak, dragged by a 2.6% slide in its top lender Emirates NBD ENBD.DU.Blue-chip developer Emaar Properties EMAR.DU dropped 1.6%, a day after it said it was bu...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Dubai, Gulf, Moody, Tasi, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Emaar Properties EMAR DU, Qatar National Bank QNBK QA, Emirates NBD ENBD DU Blue, Ooredoo Qatar


Major Gulf markets gain; ex-dividend stocks drag down #Qatar | Reuters

Major Gulf markets gain; ex-dividend stocks drag down Qatar | Reuters Most Gulf stockmarkets ended higher on Tuesday, led by gains in financial and property stocks, but the Qatari index was pressured by a slew of blue-chips trading ex-dividend.Saudi Arabia’s benchmark index climbed 1.2%, outperforming the region, boosted by a 2.5% rise in Al Rajhi Bank and a 3.3% jump in National Commercial Bank, the kingdom’s largest lender.However, oil behemoth Saudi Aramco eased 0.1%.In Qatar, the benchmark s...
Tags: Travel, Saudi Arabia, Opec, Qatar, Dubai, Reuters, Saudi Aramco, Emaar Properties, Rupert Neil Bumfrey, Industries Qatar, Dubai Islamic Bank, National Commercial Bank, Al Rajhi Bank, Masraf Al Rayan, First Abu Dhabi Bank, Major Gulf


MIDEAST STOCKS-Moody's forecast lifts Qatari banks | Nasdaq

MIDEAST STOCKS-Moody's forecast lifts Qatari banks | Nasdaq Qatari shares ended higher on Monday, extending gains for a third consecutive session, led by financial stocks after Moody's gave an upbeat forecast for the sector.Other major Gulf markets were little changed.A Moody's report on Monday said that Qatari bank profits will remain resilient in 2021 despite higher provisioning costs driven by the COVID-19 pandemic.Qatar's benchmark .QSI rose 0.6%, with Qatar Islamic Bank QISB.QA climbing 2.2...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Gulf, Moody, Qatar National Bank, Tasi, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, TVM Capital Healthcare, Qatar Islamic Bank QISB, Amanat Holdings AMANT, Cambridge Medical and Rehabilitation Center


Higher oil prices push #Saudi index up, while Egypt declines | Reuters

Higher oil prices push Saudi index up, while Egypt declines | Reuters Gulf markets ended mostly higher on Tuesday, with Saudi Arabia’s benchmark index leading gains, while Egypt’s blue-chip index slid more than 1 percent.The Saudi index closed 0.8% higher, its biggest daily percentage gain in over a week, buoyed by higher oil prices.The rise in crude prices was underpinned by the likely easing of COVID-19 lockdowns around the world, positive economic forecasts and lower output as U.S. supplies w...
Tags: Travel, Texas, Saudi Arabia, Egypt, Dubai, Abu Dhabi, Gulf, Reuters, Qatar National Bank, Reuters Gulf, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, Gulf Egypt, Emirates Integrated Telecommunications Company, Emirates Telecommunications Group Etisalat


Most Gulf markets fall as virus resurgence weighs | Reuters

Most Gulf markets fall as virus resurgence weighs | Reuters Most major Gulf stock markets fell in early trade on Monday, with the Dubai index leading the losses, as a second wave of coronavirus infections jolted the tourism boom and dented investor appetite.Dubai, one of the few destinations open to international travellers since July, has yet to impose tough restrictions despite record daily infections in the UAE. Investors are hopeful that the rollout of COVID-19 vaccines will cushion the impa...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Saudi Aramco, Emirates NBD, Aramex, Qatar Islamic Bank, Etihad Etisalat, Rupert Neil Bumfrey, National Commercial Bank, First Abu Dhabi Bank


Most Gulf markets fall; #AbuDhabi gains | Reuters

Most Gulf markets fall; Abu Dhabi gains | Reuters Most Gulf markets ended in the red on Thursday, with the Saudi index pressured by losses in its banking shares.Saudi Arabia’s benchmark index ended the session down 0.7%, but was still up 0.9% on the week.Al Rajhi Bank dropped 0.7%, while the kingdom’s largest lender National Commercial Bank retreated 1.9%.Crude oil exports in Saudi Arabia, the world’s largest oil exporter, rose for a sixth straight month to an eight-month peak in December 2020, ...
Tags: Travel, Saudi Arabia, Wam, United Arab Emirates, Dubai, Abu Dhabi, Boeing, Gulf, Reuters, Emirates NBD, Qatar National Bank, Oct, Qatar Islamic Bank, Rupert Neil Bumfrey, Aldar Properties, National Commercial Bank


Samba's 2020 net profit up 5.3% on operating income boost | The National

Samba's 2020 net profit up 5.3% on operating income boost | The National Saudi Arabia’s Samba Financial Group, which is in the process of being merged with its larger rival National Commercial Bank, reported a 5.3 per cent increase in its net profit for 2020 despite a rise in operating expenses.Net income for the period ending 31 December rose to 4.2 billion Saudi riyals ($1.1bn), the lender said in a statement on Wednesday to the Tadawul stock exchange, where its shares trade.A 9.6 per rise in ...
Tags: Travel, Samba, Tadawul, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, National Saudi Arabia


Mideast Stocks: #Saudi shares climb on higher crude while #Qatar falls | ZAWYA MENA Edition

Saudi shares extended gains for an eighth consecutive session on Monday on rising crude oil prices while corporate results weighed on the Qatari index.Oil prices soared to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply in check. Saudi Arabia's benchmark index advanced 0.5%, with Al Rajhi Bank rising 1.8% and National Commercial Bank climbing 1.5%.  The Qatari index lost 0.5%, dragged down by a 8.1% slide for telecoms giant Ooredoo after...
Tags: Travel, Saudi Arabia, Qatar, Dubai, Abu Dhabi, Emaar Properties, Emaar, Rupert Neil Bumfrey, Mohamed Alabbar, Aldar Properties, National Commercial Bank, Al Rajhi Bank, First Abu Dhabi Bank, Qatar Insurance


Most major Gulf markets rise, tracking oil and Asian shares | Reuters

Most major Gulf markets rise, tracking oil and Asian shares | Reuters Most stock markets in the Gulf edged up on Monday, tracking oil prices and Asian shares, on hopes a $1.9 trillion COVID-19 aid package will be passed by U.S. lawmakers as soon as this month just as vaccines are being rolled out globally.Brent crude for April touched an intraday high of $60.06 a barrel, the highest since January last year, on hopes of a quicker economic revival as well as supply curbs by producer group OPEC and...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Dubai, Gulf, Reuters, Saudi Basic Industries Corp, Etisalat, Rupert Neil Bumfrey, Industries Qatar, National Commercial Bank, Reuters Most, First Abu Dhabi Bank, Dubai Islamic Bank The Abu Dhabi


#Dubai leads major Gulf markets lower; Saudi index gains | Reuters

Most stock markets in the Middle East ended lower on Thursday, with Dubai leading the losses, as a surge in COVID-19 cases rattled investor confidence, although Saudi Arabia bucked the trend to close higher.The main share index in Dubai, the Middle East’s trade and tourism hub, dropped 1.5%. The index also posted its second weekly loss in five, losing 1% over the five sessions to Thursday.Blue-chip developer Emaar Properties slid 2.5%, while Dubai Investments retreated 4.9%, to become the top lo...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Emaar Properties, Rupert Neil Bumfrey, Dubai Investments, National Commercial Bank, Al Rajhi Bank, First Abu Dhabi Bank, Daniella Stoeva


#Saudi shares lead broader Gulf losses, Egypt weakens | Reuters

Saudi shares lead broader Gulf losses, Egypt weakens | Reuters The markets in the United Arab Emirates (UAE) fell on Wednesday after solid gains in the previous two days, while Saudi Arabia extended losses to a fourth straight session as it imposed further restrictions to curb the spread of the coronavirus.Dubai, which firmed more than 1% each in the past two sessions, weakened 0.4%, dragged mainly by financial stocks.The Dubai Stock Exchange operator Dubai Financial Market slipped nearly 5%, wh...
Tags: Travel, Saudi Arabia, Qatar, Egypt, Dubai, Abu Dhabi, Uae, Gulf, Reuters, Emirates NBD, United Arab Emirates UAE, Qatar National Bank, Dubai Financial Market, Rupert Neil Bumfrey, Industries Qatar, National Commercial Bank


Most Gulf markets fall in early trade; #Qatar rises | Reuters

Most Gulf markets fall in early trade; Qatar rises | Reuters Most major stock markets in the Gulf retreated early on Wednesday, with Saudi Arabia on track to extend losses for a fourth consecutive session as it imposed further restrictions aimed at curbing the spread of coronavirus.Saudi Arabia’s benchmark index fell 0.7%, with the country’s largest lender National Commercial Bank falling 1.4% and Dr Sulaiman Al-Habib Medical Services losing 1.2%.However, Al Rajhi Bank edged up 0.1% after it rep...
Tags: Travel, Saudi Arabia, India, Qatar, Oxford, United Arab Emirates, Dubai, Abu Dhabi, Ooredoo, Gulf, Reuters, Emaar Properties, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank, First Abu Dhabi Bank


Riskiest Bank Capital Comes Cheaper in Gulf Than for UBS or HSBC - Bloomberg

Riskiest Bank Capital Comes Cheaper in Gulf Than for UBS or HSBC - Bloomberg The sale by Saudi Arabia’s biggest bank of a high-risk type of bond -- at better rates than larger international peers -- is spurring concerns that investors are mispricing risk amid booming global valuations.National Commercial Bank last month issued Additional Tier 1 notes at 3.5%, the lowest yield yet for the instrument from the region. That’s also cheaper than issuances over the past six months by higher-rated firms...
Tags: Travel, Saudi Arabia, India, Bloomberg, Middle East, Ubs, Jeddah, Fitch Ratings, NCB, Standard Chartered Plc, Rupert Neil Bumfrey, National Commercial Bank, Riskiest Bank Capital Comes Cheaper, HSBC Bloomberg, HSBC Holdings Plc UBS Group AG