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National Commercial Bank: bond issuance to remain robust in Gulf

Saudi lender National Commercial Bank (NCB) has said bond issuance activity in the Gulf region is likely to remain fairly robust in the coming quarters, with a number of regional governments interested in using bonds and sukuk as a liquidity management tool, Daily Tribune has reported. Although overall issuance in the second-quarter fell short of the volumes seen in the opening months of the year, many of the positive trends observed during the past year have not only continued but been further consolidated, the report said. The second quarter saw a total of nine issues of more than a year with an aggregate value of $5bn, down from the previous quarter's $8.3bn, but ahead of the $3.3bn seen in the fourth quarter of last year, NCB said.