National Commercial Bank News
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Finance Bank Zambia Ltd., which is 40 percent owned by Credit Suisse Group AG, plans to raise $250 million selling stock on the Lusaka Stock Exchange in October, Chairman Rajan Mahtani said.
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Saudi Binladen Group, relatives of Osama bin Laden and National Commercial Bank don’t have to face lawsuits brought by families and estates of victims of the Sept. 11, 2001, terrorist attacks, a U.S. appeals court ruled, upholding a lower court’s dismissal of the cases.
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Zambia’s kwacha is set to continue its slide against the dollar and may depreciate as much as 5 percent over the next 12 months, according to the country’s biggest lender, Zambia National Commercial Bank Plc.
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Zambia National Commercial Bank Plc, which is adding 800 new customers daily, sees further growth by offering mobile-phone transactions to the almost two-thirds of potential clients who have no bank account.
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Saudi Arabia’s King Abdullah is paying the price for his own generosity as past land giveaways undermine his plans to build half a million homes and open up the country’s mortgage market.
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Saudi Arabia’s crude oil output this year may average 400,000 barrels a day less than in 2012 as the kingdom curbs supply to help meet OPEC’s production target, according to a National Commercial Bank forecast.
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Beyond the polished Fiats and Fords parked at the Oto Center in a remote working class district of Istanbul, traders tout an investment vehicle that has tripled in value over the last nine years: license plates for taxis that fetch about 1.05 million liras ($580,000).
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National Commercial Bank, Saudi Arabia’s largest bank by assets, posted a 27 percent increase in profit for last year.
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The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.
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Growth in Saudi Arabia’s economy, the Arab world’s largest, will slow to 2.2 percent next year as oil production declines, said Said al-Shaikh, senior vice president and chief economist at National Commercial Bank.
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