Business & Money | Wednesday 19 April, 2017 4:18 am |

The National Commercial Bank announced that net income for the first quarter of 2017 reached SR 2,703 million compared to SR 2,631 million for the same quarter of the previous year, an increase of 2.7%,  and compared to SR 2,287 million for the previous quarter, an increase of 18.2%.

Mr. Mansour Al-Maiman, NCB’s Chairman remarked that total operating income reached to SR4,860 million compared to SR4,724 million, an increase of 2.9%. Special commission income reached to SR3,360 million compared to SR3,436 million, a decrease of 2.2%. On the other hand, exchange income increased by 17.9% compared to the same period of the pervious year.  

Al-Maiman added that the Bank’s total assets reached to SR 449 billion compared to SR 452 billion at the end of the same period of the previous year. Total shareholders’ equity attributable to equity holders of the bank reached SR 61 billion compared to SR 57 billion, for the same period of the previous year, an increase of 6.5%. Earnings per share reached 1.35 riyal compared to 1.32 riyal at the end of the same period of the previous year.

Financing and advances decreased to SR 254 billion compared to SR 265 billion at the end of the same period of the previous year. Customer deposits reached to SR 314 billion compared to SR 326 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 it achieve these results.