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Saudi Arabia's government plans to sell a 15 percent stake in National Commercial Bank (NCB), the country's largest lender by assets, in an initial public offer that would be the kingdom's first bank IPO since 2008 .The fund, which currently owns most of NCB, will also sell an additional 10 percent stake to the government's Public Pension Agency.Alassaf did not discuss the pricing of the IPO but it is likely to be one of Saudi Arabia's biggest, since NCB has assets of $101 billion and made a net profit of $2.1 billion last year. NCB owns 90.7 percent of investment firm NCB Capital and has a 66.3 percent stake in Turkiye Finans Katilim Bankasi, an Islamic bank in Turkey.
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