Business & Money | Sunday 17 July, 2016 11:14 am |

The National Commercial Bank announced that net income for the first half 2016 reached SR 5,068 million compared to SR 4,968 million for the same period of the previous year, an increase of 2%,NCB net profit for the second quarter reached to SR 2,438 compared to SR 2,363 million for the same quarter of the previous period, a increase of 3.2%.

 

Mr. Mansour Al-Maiman, NCB’s Chairman remarked that the Bank’s growth and diversity of its financing and investment products has contributed to an increase decrease in net special commission income and foreign exchange income, net by 9.1% and 13.3% respectively.

 

Al-Maiman added that the Bank’s total assets reach SR 453 billion compared to SR 461 billion at the end of the same period of the previous year. Total shareholders’ equity reached SR 59.7 billion compared to SR 50.5 billion, for the same period of the previous year, an increase of 18.2%. Earnings per share reached 2.53 riyal compared to 2.49 riyal at the end of the same period of the previous year.

 

Loans and advances increased to SR 265 billion compared to SR 234 billion at the end of the same period of the previous year, an increase of 13%. Customer deposits reach to SR 315 billion compared to SR 361 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.