Riyadh – Mubasher: National Commercial Bank (NCB) announced receiving regulatory approval on establishing a subsidiary that will operate in derivatives trading and repo activity, according to a bourse filing Tuesday.
The new company, Saudi National Commercial Bank Markets Ltd, will be 100% owned by NCB with SAR 187,500 capital (to be self financed).
NCB added that the new arm will be licensed and located in Cayman Islands.
