NCB 9-month net income AR 7.2 billion

|By Arabian Post Staff|The National Commercial Bank announced that net income for the nine months of 2017 reached SAR 7,246 million compared to SAR 7,030 million for the same period of the previous year, an increase of 3.1%. NCB’s net profit for the third quarter reached SAR 2,126 million compared to SAR 1,962 million for the same quarter of the previous year, an increase of 8.4%.

NCB Chairman Mansour Al-Maimanv stated that the net special commission income reached SAR 10,283 million compared to SAR 10,226 million for the same period of the previous year, an increase of 0.6%. NCB’s operating expenses decreased compared to the same period of the previous year.

Al-Maiman added that the bank’s total assets reached SAR 445 billion compared to SAR 439 billion at the end of the same period of the previous year. Earnings per share reached 3.51 riyals compared to 3.41 riyals at the end of the same period of the previous year.

Loans and advances amounted to SAR 257 billion compared to SAR 260 billion at the end of the same period last year. Customers deposits totaled to SAR 303 billion compared to SAR 311 billion at the end of the same period of the previous year.

Al-Maiman concluded by expressing his deep gratitude to the Bank’s clients and shareholders for their trust in the Bank and to the Board of Directors and staff for their contribution and support to help achieve these results.