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NCB books heavy provisions in light of Saad and Algosaibi concerns
- Saudi Arabia: Thursday, October 29 - 2009 at 09:44
National Commercial Bank (NCB), the Saudi Arabia's largest lender by assets, has booked SR769.7m in provisions during the third quarter alone, Reuters has reported. The provision is the highest yet by a Saudi bank, since concerns over the solvency levels of heavily indebted Saudi conglomerates Saad Group and Ahmad Hamad Algosaibi & Bros started to surface in June.
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StaffThursday, October 29 - 2009 at 09:44 UAE local time (GMT+4)
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