The board of the National Commercial Bank (NCB), Libya's second largest lender by asset size, has written an open letter denying that it has sold shares to another bank.

The Libyan Stock Market (LSM) has nominated its management and says that two companies have been delisted from the main index of the bourse.

Mediterranean Bank, one of Libya's smaller lenders in terms of asset size, has published its net profit figures for the 2012 financial year.

United Insurance says it earned around LD66m ($53m) in revenues during the 2012 financial year.

The Egyptian lender is to establish a new real estate finance company in partnership with the Benghazi-based Bank of Commerce and Development (BCD).

The net income after tax of the Bank and Commerce and Development (BCD), in which Qatar National Bank purchased a stake earlier this year, dropped to LD8.5m ($6.7m) in 2011.

Recently published figures show the bank recorded a profit at the end of the third quarter of 2012.

The state-controlled National Union Engineering Consultants, which is listed on Libya's stock market, held assets of LD10.6bn ($8.3bn) at the end of the first quarter but recorded a sizable loss.

State-controlled Gumhouria Bank, Libya's largest lender by asset size, made a net profit of LD95.3m ($75m) in the first half of 2012, with total assets up slightly on the previous quater.

Libya's largest insurer posts a sharp drop in performance due to the 2011 conflict, but still generates an annual net profit of LD8.4m ($6.7m).

National Union Consultants (NUC), an engineering, architecture and project management firm, floated 400,000 shares on the Libyan Stock Market on 11 June in the first new listing since the 2011 revolution.

Shares in Sahara Bank, which is partly owned by France's BNP Paribas, resumed trading on the Libyan Stock Market this week.