BUSINESS

NCB’s net income up 1% in H1

July 25, 2017
Mansour Al-Maiman
Mansour Al-Maiman

JEDDAH — The National Commercial Bank (NCB) announced that net income for the first half 2017 reached SR5,120 million compared to SR5,068 million for the same period of the previous year, an increase of 1.0%. NCB net profit for the second quarter reached to SR2,417 compared to SR2,438 million for the same quarter of the previous period, a decrease of 0.8%.

Mansour Al-Maiman, NCB’s chairman, remarked that net special commission income reached to SR6,834 million compared to SR6,784 million for the same period of the previous year an increase of 0.7%, also exchange income increased by 7.2%. On the other hand, operating expenses decreased by 8.9% compared to the same period of the previous year.

Al-Maiman added that the Bank’s total assets reach SR450 billion compared to SR453 billion at the end of the same period of the previous year. Total shareholders’ equity attributable to the equity holder of the bank reached SR59.9 billion compared to SR57.6 billion, for the same period of the previous year, an increase of 3.9%. Earnings per share reached 2.49 riyal compared to 2.47 riyal at the end of the same period of the previous year.

Loans and advances decreased to SR257 billion compared to SR265 billion at the end of the same period of the previous year. Customer deposits reach to SR315 billion compared to SR315 billion at the end of the same period of the previous year. — SG


July 25, 2017
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