Saudi Banks Outperform Market Index For 3Q 1999
The latest market report issued by Jiddah-based NationalCommercial Bank (NCB), Saudi Stock Market (July-September, Issue No. 3.Vo.l. 2.), shows that for 3Q 1999, Saudi banking stocks outperformed themarket index, rising by 24% since the start of the year compared to 19% for themarket as a whole. "Based on the latest earnings figures, the price toearnings ratio for the market stood at 29 times, while it...