Financial and Banking News
NCB Improves Performance but Has Accounts Qualified again
Jeddah-based National Commercial Bank (NCB), the biggest Gulf-based bank,allocated all its operating income to provisions for the third consecutive yearin 1989. The bank made SR918mn ($245mn) in the calendar year 1989, compared toSR966mn in the 16.2 months to 31 December 1988 (equivalent to SR715mn on anannualized basis). The 1989 operating profits are up 28% on the...