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#SaudiArabia’s NCB reports drop in second quarter profit on higher operating expenses - The National

Saudi Arabia’s NCB reports drop in second quarter profit on higher operating expenses - The National:Saudi Arabia’s National Commercial Bank (NCB), the kingdom's biggest lender by assets, reported a 22 per cent drop in its second-quarter profit as total operating expenses including impairments for bad loans climbed and operating income decreased.Net profit for the three months ending June 30 declined to 2.09 billion Saudi riyals (Dh2.05bn), the lender said in a statement to the Tadawul stock exc...
Tags: Travel, Saudi Arabia, Tadawul, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey


Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg

Middle East Deals: Banks Talk Consolidation to Weather Oil, Virus - Bloomberg:The global pandemic and an oil price rout are prompting a new wave of consolidation talk among banks in the Middle East. In recent weeks, two potential tie-ups in Saudi Arabia and Qatar have been announced, adding momentum to an already unprecedented merger and acquisition spree. With about $440 billion of deals on the table, here’s what’s in the works:National Commercial Bank and Samba Saudi Arabia’s largest lender by...
Tags: Travel, Saudi Arabia, Qatar, Bloomberg, Middle East, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Samba Saudi Arabia


MIDEAST STOCKS-Most major Gulf markets gains; Aramex drags #Dubai lower - Agricultural Commodities - Reuters

MIDEAST STOCKS-Most major Gulf markets gains; Aramex drags Dubai lower - Agricultural Commodities - Reuters:Most major Gulf stock markets opened higher on Thursday, with Saudi Arabia leading the gains on back of its financials, while Dubai bucked the trend.Saudi Arabia’s benchmark index rose 0.6%, led by a 1.1% increase in Al Rajhi Bank and a 1% gain in petrochemical maker Saudi Basic Industries.Elsewhere, National Commercial Bank (NCB) traded 0.3% up.NCB has completed the issuance of additional...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Aramex, NCB, Rupert Neil Bumfrey, Al Rajhi Bank, Agricultural Commodities Reuters


Mideast Stocks: Major Gulf indexes slip in early trade | ZAWYA MENA Edition

Mideast Stocks: Major Gulf indexes slip in early trade | ZAWYA MENA Edition:Major bourses in the Gulf fell in early trade on Monday, with banking shares weighing on the Saudi index a day after it advanced after two lenders in the sector said they signed an initial merger agreement.The benchmark index of Saudi Arabia, which has reported the highest number of new coronavirus infections in the six countries of the Gulf Cooperation Council (GCC), slipped 0.3%.National Commercial Bank (NCB), which cl...
Tags: Travel, Saudi Arabia, Samba, Gulf Cooperation Council GCC, National Commercial Bank NCB, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial Group, Major Gulf


Mideast Stocks- #Saudi up as Samba-NCB surge on merger move; Egypt extends losses | ZAWYA MENA Edition

Mideast Stocks- Saudi up as Samba-NCB surge on merger move; Egypt extends losses | ZAWYA MENA Edition:Saudi Arabia's stock market ended higher on Sunday buoyed by National Commercial Bank and Samba Financial Group after they signed an initial merger agreement, while Egypt's index extended losses. The benchmark index in Saudi Arabia gained 0.8%, with Samba Financial Group rising 9.9% for its biggest intraday gain since June 2017, while National Commercial Bank (National Commercial Bank6) was up 5...
Tags: Travel, Saudi Arabia, Egypt, Samba, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Samba NCB, National Commercial Bank National Commercial Bank6


A merged NCB-Samba bank would be #SaudiArabia's biggest lender 'by some way', says EFG Hermes - The National

A merged NCB-Samba bank would be Saudi Arabia's biggest lender 'by some way', says EFG Hermes - The National:A merger between Saudi Arabia’s National Commercial Bank and Samba Financial Group would create the biggest lender in the kingdom "by some way", with a 30 per cent share of the market, according to EFG Hermes.NCB is already the kingdom’s biggest bank in terms of assets, with a 21 per cent share of the market. Samba is the fourth-biggest, with an 11 per cent share.The combined bank will ha...
Tags: Travel, Saudi Arabia, Samba, NCB, EFG Hermes, Rupert Neil Bumfrey, Samba Financial, Samba Financial Group, National Commercial Bank, First Abu Dhabi Bank, NCB Samba, EFG Hermes NCB


MIDEAST STOCKS-NCB, Samba jump on potential merger; #Qatar eases - Agricultural Commodities - Reuters

MIDEAST STOCKS-NCB, Samba jump on potential merger; Qatar eases - Agricultural Commodities - Reuters:Saudi Arabia’s stock market rose on Sunday, boosted by National Commercial Bank and Samba Financial Group Bank after they signed an initial merger agreement, while Qatar’s index retreated in early trade.The benchmark index in Saudi Arabia rose 0.9%, with Samba Financial Group jumping 9.9% and National commercial Bank (NCB) up 5.2%.NCB, the kingdom’s biggest lender, said on Thursday it had signed ...
Tags: Travel, Saudi Arabia, Qatar, Samba, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Agricultural Commodities Reuters, NCB Samba, Samba Financial Group Bank


#Saudi $45 bln bank M&A is haunted by past failure – Breakingviews

Saudi $45 bln bank M&A is haunted by past failure – Breakingviews Mohammed bin Salman wants a banking champion that’s worthy of his grand visions. Saudi Arabian retail investors may not care much about the crown prince’s dreams. That means National Commercial Bank, the government’s would-be vehicle for building a financial powerhouse, will have to pay up for Samba Financial. The two banks on Thursday took the unusual step of announcing that they had arrived at a “framework agreement” for an al...
Tags: Travel, Samba, Riyad, Riyad Bank, NCB, Rupert Neil Bumfrey, National Commercial Bank, Saudi Public Investment Fund, Breakingviews Mohammed bin Salman, Samba Using NCB


#SaudiArabia's biggest lender NCB in merger talks with Samba - Reuters

Saudi Arabia's biggest lender NCB in merger talks with Samba - Reuters:National Commercial Bank (1180.SE), Saudi Arabia’s biggest lender, said on Thursday it had signed an initial agreement with smaller lender Samba Financial Group (1090.SE) to create a combined entity with almost $214 billion in assets.NCB’s offer would value each Samba share at 27.42 to 29.32 riyals ($7.82), giving it a maximum market value of $15.63 billion, 27.5% above its market value of nearly $12.3 billion based on Wednes...
Tags: Travel, Saudi Arabia, Uae, Gulf, Samba, Reuters, NCB, Rupert Neil Bumfrey, Samba Financial Group, Qatar National Bank QNB, First Abu Dhabi Bank, Samba Reuters


UPDATE 1- #Saudi lender NCB reports 18.8% rise in 2019 net profit - Reuters

UPDATE 1-Saudi lender NCB reports 18.8% rise in 2019 net profit - Reuters:Saudi Arabia’s National Commercial Bank (NCB), saw a 13.2% rise in fourth-quarter net profit, according to Reuters calculations, helped by increased revenue from commissions and financing, and lower operating costs.The country’ largest lender made a net profit of 3 billion riyals ($799.8 million)in the three months to Dec. 31, up from 2.65 billion riyals in the same period of 2018, Reuters calculated from financial stateme...
Tags: Travel, Saudi Arabia, Reuters, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey


MIDEAST STOCKS-Major Gulf stocks up, #Saudi's NCB jumps on strong FY earnings | Nasdaq

MIDEAST STOCKS-Major Gulf stocks up, Saudi's NCB jumps on strong FY earnings | Nasdaq:Major stock markets in the Middle East rose on Wednesday, largely on the back of gains in financial shares and a recovery in oil prices, while Saudi was cheered by a host of corporate announcements.Oil prices climbed for a second day, recouping some losses after a five-day rout, on talk that OPEC could extend output cuts if China's outbreak of coronavirus hurts demand.Saudi Arabia's benchmark index .TASI was up...
Tags: Travel, Saudi Arabia, China, Opec, Middle East, Vodafone, Gulf, National Commercial Bank NCB, NCB, Tasi, Rupert Neil Bumfrey, Vodafone Egypt VODE


#Saudi banking giants forecast to maintain 'strong profitability' - Arabianbusiness

Saudi banking giants forecast to maintain 'strong profitability' - Arabianbusiness:Saudi Arabia's three largest banks, National Commercial Bank (NCB), Al Rajhi Bank, and Saudi British Bank (SABB), will maintain strong profitability even as interest margins on their lending narrow because of falling interest rates, according to Moody's Investors Service.In a new research note, the ratings agency said the three banks have a combined market share of 47 percent of the country's banking assets."SABB ...
Tags: Travel, Saudi Arabia, Moody s Investors Service, Riyad Bank, NCB, Rupert Neil Bumfrey, Sabb, Alawwal Bank, Saudi British Bank SABB, National Commercial Bank NCB Al Rajhi Bank, Ashraf Madani, Moody s Al Rajhi


MIDEAST STOCKS-Petrochemicals aid #Saudi shares, #UAE up on financials - Reuters

:Saudi Arabia’s stock market edged up on Wednesday, led by petrochemical shares, while gains in financials lifted Dubai and Abu Dhabi stocks.In Saudi, the index edged up 0.1%, with Saudi Basic Industries gaining 1.6% and National Commercial Bank (NCB) adding 0.5%.On Monday, NCB and Riyad Bank decided to end preliminary merger talks, the two said in separate stock exchange filings. Riyad Bank was up 0.9%.However, Saudi Aramco’s shares were down 2.1%, at 37 riyals ($9.87), on the first day of thei...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Reuters, MSCI, National Commercial Bank NCB, Riyad Bank, NCB, Rupert Neil Bumfrey, Saudi Basic Industries, However Saudi Aramco


MIDEAST STOCKS- #Qatar biggest gainer as major Gulf markets rise - Agricultural Commodities - Reuters

MIDEAST STOCKS-Qatar biggest gainer as major Gulf markets rise - Agricultural Commodities - Reuters:Saudi Arabia's stock market closed on apositive note on Tuesday, supported by gains in financialshares, while Qatar was up a day after the country announced itsbiggest budget in five years.The Saudi benchmark index was up 0.7%. But Al RajhiBank lost 0.9% and National Commercial Bankfell 1.4%.  On Monday, NCB and Riyad Bank decided to endpreliminary merger talks, the two said in separate stockex...
Tags: Travel, Saudi Arabia, Qatar, Gulf, Riyad Bank, NCB, Rupert Neil Bumfrey, Agricultural Commodities Reuters, Al RajhiBank, National Commercial Bankfell, National Shipping Company of Saudi Arabia Bahri


MIDEAST STOCKS- #Saudi shares flat on banks, petrochemicals; other markets up - Reuters

:Most major Gulf stock markets gained on Tuesday, but Saudi Arabia’s traded flat with financials and petrochemicals moving sideways.Saudi’s benchmark index was flat, with Riyad Bank shedding 3% and Al Rajhi Bank losing 0.2%.On Monday, Riyad Bank and National Commercial Bank ( decided to end preliminary merger talks, the two said in separate stock exchange filings. NCB was up 0.3%.Saudi Aramco slipped 0.3% in early trade after four straight days of gains. The state-owned company will join MSCI on...
Tags: Travel, Saudi Arabia, Gulf, Reuters, Saudi Aramco, MSCI, Riyad Bank, NCB, Rupert Neil Bumfrey, National Commercial Bank, Al Rajhi Bank


#SaudiArabia's NCB, Riyad Bank pull plug on merger plan - Reuters

Saudi Arabia's NCB, Riyad Bank pull plug on merger plan - Reuters:Saudi Arabia’s biggest lender by assets, National Commercial Bank (NCB) and Riyad Bank, the kingdom’s fourth largest, said on Monday they had ended merger talks, without giving a reason. “The boards of both banks have decided to end preliminary merger talks and not to continue with the merger study,” the two said in separate stock exchange filings. The merger was expected to create a combined bank holding $183 billion in assets an...
Tags: Travel, Saudi Arabia, Reuters, National Commercial Bank NCB, Riyad Bank, NCB, Rupert Neil Bumfrey, Al Rajhi Bank, NCB Riyad Bank


#Saudi lender NCB posts 20% profit jump - Reuters

Saudi lender NCB posts 20% profit jump - Reuters:Saudi Arabia’s National Commercial Bank (1180.SE)(NCB), the kingdom’s largest lender, reported a 20% rise in third-quarter net profit on Thursday.The bank made a net profit of 2.55 billion riyals ($680 million) in the three months to Sept. 30, up from 2.12 billion riyals in the same period of 2018, it said in a bourse statement.Revenue from special income, an Islamic equivalent to net interest income, rose 4.9% to 4.93 billion riyals while fee inc...
Tags: Travel, Saudi Arabia, Reuters, NCB, Rupert Neil Bumfrey, SE NCB


‘This Is Us’ Gets an Unconventional 3-Season Renewal By NBC

This Is Us is the closest thing to a cultural phenomenon that’s not on HBO right now, so it’s no wonder NBC is invested in Dan Fogelman‘s touching generations-spanning melodrama. In an unprecedented move for the network, NBC has renewed This Is Us for three additional seasons, bringing its total season count to six seasons. Read more to learn about how NCB has had This Is Us renewed. Variety broke the news that NBC has renewed This is Us for its fourth, fifth, and sixth seasons, in an unconv...
Tags: Hbo, New York, Television, Movies, Nbc, Drama, Jack, Randall, Pearson, Pittsburgh, Kevin, Beth, Dan Fogelman, Ventimiglia, NCB, However Variety


7 Variables That Impact Your Two Wheeler Insurance Premium

Are you wondering what affects your 2 wheeler insurance premium? Well, there are a number of variables that do so. Take a look at this article to know what these variables are and what role they play to give your bike insurance premium its value. Bike insurance variables that affect the insurance premium Listed below are the main variables that have an impact on the premium of the bike insurance policy you buy: Make and model: Obviously, the make and model of your bike impacts its...
Tags: India, Blogging, Financial Planning, NCB, IDV, Wheeler Insurance Premium


How to Reduce Insurance Premium for your SUV?

When you buy an SUV, you get a lot of comfort and safety. These cars are sturdy and are ideal for big families and long road trips. However, owing to the size of the vehicle, the car insurance premium is usually high for an SUV. Nevertheless, there are some ways in which you can reduce the premium costs. Read on to know how. Tips to reduce your SUV’s insurance premium costs Here are some handy tips for you to find the lowest car insurance quote. Take a look: Compare: It is always a ...
Tags: Blogging, Financial Planning, NCB


Things to know before you insure your high-end sports car

For the car enthusiast in you, there are a lot of options to choose from when it comes to sports cars. The Ford Mustang has been a favorite sports car for generations now and the latest iteration is no different. The Lamborghini Huracan and Aventador are breathtaking machines on their own as well. Car manufacturers are not shying away from bringing their best models to India, which seems to have grown a big appetite of premium sports cars. Several premium car manufacturers are bringing their f...
Tags: India, Blogging, Ford Mustang, Financial Planning, NCB


MIDEAST STOCKS-Banks Propel #Saudi, most Gulf markets up | Reuters

MIDEAST STOCKS-Banks Propel Saudi, most Gulf markets up | Reuters:Saudi Arabia’s stock market rose on Monday aided by rising bank shares, while Dubai was lifted as most of its real estate stocks rebounded.The Saudi Arabia index was up 0.6 percent with Al Rajhi Bank adding 1.2 percent and the country’s largest lender, National Commercial Bank (NCB), gaining 0.8 percent. NCB had last week reported a 3.5 percent increase in its fourth-quarter net profit.Saudi exchange data released late Sunday show...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Reuters, National Commercial Bank NCB, NCB, Rupert Neil Bumfrey, Al Rajhi Bank


#Saudi lender NCB's quarterly profit rises 3.5 pct | Reuters

Saudi lender NCB's quarterly profit rises 3.5 pct | Reuters:Saudi Arabia’s National Commercial Bank (NCB), the country’s largest lender, saw a 3.5 percent rise in fourth-quarter net profit, according to Reuters calculations, while its annual profit met analysts’ forecasts.The bank, which is in merger talks with Riyad Bank , made a net profit of 2.65 billion riyals ($706.6 million) in the three months to Dec. 31, up from 2.56 billion riyals in the same period of 2017, Reuters calculated from fina...
Tags: Travel, Saudi Arabia, Reuters, National Commercial Bank NCB, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial Group


#Saudi's NCB set to pick JPMorgan to advise on bank merger talks: sources | Reuters

Saudi's NCB set to pick JPMorgan to advise on bank merger talks: sources | Reuters:Saudi Arabia’s biggest lender, National Commercial Bank 1180.SE, is set to pick JPMorgan (JPM.N) to advise on its merger talks with smaller rival Riyad Bank 1010.SE, several sources familiar with the matter said.NCB, the kingdom’s biggest lender by assets, and Riyad Bank said in December they have begun preliminary discussions to merge, in a move that would further extend NCB’s lead over its closest rivals by boos...
Tags: Travel, Saudi Arabia, Reuters, Jpmorgan, Riyad Bank, NCB, Rupert Neil Bumfrey, Goldman Sachs GS, National Commercial Bank


MIDEAST STOCKS-Banks elevate #Saudi, blue-chips lift Egypt | Reuters

MIDEAST STOCKS-Banks elevate Saudi, blue-chips lift Egypt | Reuters:Saudi Arabia's stock market rose on Wednesday, boosted by its bank shares, while Egypt's index was lifted by its blue-chip stocks, mirroring a gain in emerging markets.Saudi Arabia's index rose 0.7 percent with Banque Saudi Fransi rising 5.2 percent.Riyad Bank continued to rise, adding 4.5 percent. The lender had picked Goldman Sachs to advise on its merger talks with National Commercial Bank (NCB), Reuters reported, citing sour...
Tags: Travel, Saudi Arabia, Egypt, Goldman Sachs, Reuters, Riyad Bank, NCB, Rupert Neil Bumfrey, Banque Saudi Fransi, National Commercial Bank NCB Reuters


Saudi's Riyad Bank selects Goldman to advise on merger talks with NCB: sources | Reuters

Saudi's Riyad Bank selects Goldman to advise on merger talks with NCB: sources | Reuters:Saudi Arabia’s Riyad Bank 1010.SE has picked Goldman Sachs (GS.N) to advise on its merger talks with National Commercial Bank 1180.SE, two sources familiar with the matter said.NCB, the kingdom’s biggest lender by assets, and Riyad Bank have begun preliminary merger discussions, the two banks said in December in a deal that could potentially create a combined bank holding $183 billion in assets.Riyad Bank di...
Tags: Travel, Saudi Arabia, Goldman Sachs, Goldman, Reuters, Riyad Bank, NCB, Rupert Neil Bumfrey, National Commercial Bank, Goldman Sachs GS N


Saudi Said to Weigh More Bank Mergers as NCB Announces Talks - Bloomberg

Saudi Said to Weigh More Bank Mergers as NCB Announces Talks - Bloomberg:Saudi Arabia is exploring potential mergers to boost its financial services industry after the combination of Saudi British Bank and Alawwal Bank, according to people with knowledge of the matter.The kingdom’s main sovereign wealth fund, which owns stakes in some of the biggest lenders, is weighing which banks could be merged to increase scale and competition, the people said, asking not to be identified because the talks a...
Tags: Travel, Saudi Arabia, Bloomberg, Alwaleed Bin Talal, Riyad Bank, NCB, Rupert Neil Bumfrey, Samba Financial, National Commercial Bank, Banque Saudi Fransi, Saudi British Bank, Alawwal Bank, Weigh More Bank Mergers, Kingdom Holding Co Al Rajhi Bank


UPDATE 1- #SaudiArabia's biggest bank NCB in merger talks with rival Riyad | Reuters

UPDATE 1-Saudi Arabia's biggest bank NCB in merger talks with rival Riyad | Reuters:Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s biggest lender by assets, has begun preliminary discussions to merge with smaller rival Riyad Bank, the two lenders said on Monday.A merger would further extend NCB’s lead over its closest rivals including Al Rajhi Bank, by boosting its assets by almost a third to 685 billion riyals ($183 billion)The move comes two months after Saudi British Bank (SABB)...
Tags: Travel, Saudi Arabia, Reuters, Riyad, National Commercial Bank NCB, Riyad Bank, NCB, Rupert Neil Bumfrey, Al Rajhi Bank, Alawwal Bank, Saudi British Bank SABB


5 Tips to Maximize the use of your Car Insurance

The general need when it comes to car insurance is of compulsion and not security. Yes, car insurance is compulsory but it can also prove to be a vital financial security cover in case of a mishap involving your car. People that are not informed about the benefits of car insurance might consider it as a waste of money. However, reading and understanding about car insurance can help you realize that car insurance offers value for money, provided you make the right choices. Read ahead to know 5 t...
Tags: Digital, Blogging, Financial Planning, NCB


5 Ways to Find Discounts on Bike Insurance This Holiday Season

The holiday season is a great time if you are a shopaholic. There are discounts everywhere! Even the bike insurance industry is not far behind. Availing bike insurance is something that is mandatory as well as beneficial in case of a mishap. It is not a one-time activity and bike insurance needs to be renewed before its expiry date. Therefore, if your two-wheeler insurance is expiring anytime soon, the holiday season is the right time to buy two-wheeler insurance. Read ahead to know 5 ways to f...
Tags: Blogging, Financial Planning, NCB, NCB Insurance