VOL. XLV

No 6

11-February-2002

SAUDI ARABIA

NCBPosts 40% Rise In Operating Profits, Moves Out Of The Woods

SaudiArabias largest bank, National Commercial Bank (NCB), announced on 5 Februarythat it achieved a 39.7% rise in operating profits in 2001 to SR2.271bn($606mn), compared to SR1.626bn ($434mn) the previous year. In a statement, thebanks Chairman and Managing Director, Shaikh 'Abd Allah Salim Bahamdan, notedthat the rise in operational income had been achieved despite global marketconditions...