Riyadh – Mubasher: National Commercial Bank (NCB) finalised the second phase of purchasing its own shares allocated for executive employees.
NCB bought 1.86 million of its shares for Executive Employees Stock Programme, the Saudi Arabia-based lender said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday, 13 March.
“The vesting period of those shares will be within 3 years as per the terms and conditions of the executive employees stock program recently approved by the Extraordinary General Assembly,” the statement added.
No financial impact is expected to affect the financial results, the kingdom's largest lender noted.
By 10:21 am KSA time, NCB’s stock rose 0.32% to SAR 63.50.
