Largest Saudi Bank Crashes To Record Low

Tyler Durden's picture

Despite the exuberant rebound in the price of oil - and the hope that this means something other than an over-financialized commodity being short-squeezed by rumors - all is not well across the oil producers of the world. Having noted the record surge in default protection for Saudi Arabia (ahead of its looming debt deal)...



We note that National Commercial Bank's stock price has collapsed to record lows.

h/t @pierpont_morgan

This is Saudi Arabia's largest bank, and is often used as a proxy for the royal family's wealth.

Interestingly,just as we were surprised to see Saudi CDS "stabilizing" amid record demand for protection, NCB CDS has tightened dramatically in the last few weeks - as the stock has crashed...


If we were the tin-foil-hat-wearing types, we might suggest that every effort is being made to put lipstick on Saudi's credit pig before the looming debt deal is done.

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knukles's picture

OK.  Fess up.  Who's long the CDS's?

Bumpo's picture

Quick, Chop off some heads! Hillary supports you 100%

Shemp 4 Victory's picture

It would be interesting if the bank's assets had been stripped in order to pay cash for a million-acre bug-out ranch in Paraguay for the Saudi royals. Why, they'd be neighbors with their old pal Chimpy W. Bush.

Yep, sure would be interesting...

froze25's picture

I guess killing,  Christians,  Homosexuals or any non orthodox Muslim and mutilation of female genitals is all that profitable.  Who knew. I'm sure Hillary can arrange for more weapon sales. Trump  2016

Escrava Isaura's picture

How is that possible?


I was told by the Hedgers that Saudi plan was to crash the shale.


Lets Buy The Dip's picture

if Hillary does survive this email gate and get in, and  raise rates though, banks should do well, housing stocks also. 

very interesting read here =>

espirit's picture

Note to self:

Buy moar popcorn and shotgun shells.

Mustafa Kemal's picture

You might add a few of those microdots.

Gambit's picture

Mooooaarr please! Can't wait until these scum perish. I hope ever mothefucking Saudi that has support the wahabbists dies a slow and agonizing death. Once the Saudi clan is destroyed perhaps we might have some small hope for peace in the ME.

TrajanOptimus's picture

Yeah, with those peaceful nuke building Iranians leading the way....

sun tzu's picture

The only country to ever use nukes was the USA. Fuck Yeah

Hawkeye Lockhart's picture

How about those 'peaceful' stolen-nuke-hiding Zionists already leading the way.... ?

"By way of deception", destruction and death....

EscapeKey's picture

as if they'll pay out in the event of a crash. the big banks control whether it'll be considered a credit event.


espirit's picture

Have they ever paid out on CDS?

Not even Argentina if I remember correctly.

KimAsa's picture

Better pump that bitch.

QEpp's picture

These charts are a bit misleading...look at the Y axis...only down by half.  Let's be honest.

samsara's picture

In other news... "Yemen gives Russia air rights...." Hmm.

I see things going very badly very quickly. I see the royal family flying out to their getaway locations faster than they did leaving US air space on 9/12/2001

In an unpredictable order.... Saudi banks collapse, Deutsch bank going Lehmans style, global Rothschild Central Banks/Fed declare a banking holiday, EBT , ATMs don't work, national guard, martial law, Postponed elections, a few missles lobbed into the Saudi oil facilities, oil goes to $150.....

Welcome to 1930....

THEN things will get bad.

Clock Crasher's picture

So what your saying is we still have a ton of time until things get bad?


sign me up. 

samsara's picture

Yes, I'm telling EVERYBODY they have plenty of time, and also they should move closer to the city for convienence.

(As I am packing my car...)

ACES FULL's picture

Yeah,and none of you should come to the Southern states. Its a well known fact that they will nuke us first. Cause,well...just cause. Take my word for it and STAY AWAY.

Raffie's picture

I think this is GREAT news.

Can't wait till all UAE looks like a big version of Tijuna.

Dark Daze's picture
Dark Daze (not verified) Aug 24, 2016 8:28 PM

Concerning Russia's supposed deployment of air assets to Yemen, they say it isn't happening. But of more interest is this story from 'Russia beyond the Headlines' that describes a new, 60,000 square meter Zhukovsky airport in Russia. 60,000 square meters at a cost of 157 Million. Anywhere else it would have been 157 Billion. This is why the US and Europe are doomed. This time, they are going to be the ones going bankrupt trying to defeat Russia.

Mustafa Kemal's picture

With Russia China and Iran playing well together, and maybe soon Turkey,  with lots of gold, the petrodollar looks likes its in for a shock.

foxenburg's picture

60 000 sq m is only the size of the terminal. that's 6 hectare, or 15 acres, not really very big. $157 million sounds reasonable. 157 for a terminal would be crazy.

foxenburg's picture

60 000 sq m is only the size of the terminal. that's 6 hectare, or 15 acres, not really very big. $157 million sounds reasonable. 157 for a terminal would be crazy.

WTFUD's picture

Saudi ought to look at its relations with Vichy DC as being responsible for its struggles. The good news is that investment in overseas extremist wahhabi mosques will be curtailed.

zippy222's picture

John Burbank at Passport capital was LONG  NCB....   I wonder if he still holds the stock?! 

Offthebeach's picture

If you can't trust a fat, dibetic, Hanover whore chasing, fith rate Brit school diploma mill Saudi banker, who can you trust! Oy Vey!

cognitive dissident's picture

can't them Saudis print some more black gold? There's no where left to put it, you say? We can't just bulid another big Strategic oil barrell and stock up while it's so rare and cheap? so these energy cds probably aren't worth the LCDs/pixels they illuminate? Russia and China are trading oil/gold for each other's "current-cies"?

Wahooo's picture

Looks like a good time to buy the stock.

assistedliving's picture

another interpretation : something amiss in HRH family.  keep watch