Riyadh – Mubasher: Saudi Arabia-based National Commercial Bank (NCB) on Wednesday announced that its board of directors had approved appointing Faisal Alsakkaf as the CEO for the bank during a meeting held the previous day.

Alsakkaf will receive his new position on Friday, 1 June, according to the lender’s statement to the Saudi Stock Exchange (Tadawul).

Saudi Arabia's largest bank by assets had previously reported a 10.51% year-on-year increase in net profits to hit SAR 2.98 billion in the first quarter of 2018, compared SAR 2.70 billion in Q1-17.

NCB's stock inched up 0.8% to close Tuesday at SAR 46.05.