The National Commercial Bank (NCB) announces the successful completion of subordinated tier 1 Sukuk by way of private placement

The National Commercial Bank ( NCB ) has successfully settled an issuance of subordinated Additional Tier I capital Sukuk, in the amount of SAR 2 Billion, and compliant with Islamic Sharia principles through a private placement offer in Saudi Arabia. Sukuk issuances such as this are intended to strengthen the Bank's capital base in accordance with the Basel III framework and sustain its growth while maintaining healthy capital adequacy levels. Additionally, the Sukuk will continue to extend the maturity profile of NCB 's liabilities while continuing to diversify its sources of funding. NCB Capital Company acted as sole Lead Manager.