Mansour Al-Maiman, chairman of the National Commercial Bank (NCB) board, said the board has recommended to the bank’s extraordinary general assembly to increase its capital from SR15 billion to SR20 billion by offering free shares to its shareholders.
Every shareholder will receive a share for each three shares. The SR5 billion will be taken from the profit. The move will increase the bank’s shares from 1.5 billion to 2 billion, each with a nominal price of SR10.
NCB seeks to raise capital to SR20 billion
NCB seeks to raise capital to SR20 billion
