Business & Money | Wednesday 24 October, 2018 11:50 am |

The National Commercial Bank announced that its net income for the nine months of 2018 reached SAR 8,020million compared to SAR 7,245million for the same period of the previous year, an increase of 10.7%.NCB’s net income for the third quarter reached to    SAR 2,454 million compared to SAR 2,126million for the same period of the previous year, an increase of 15.4%. 

 

Mr. Saeed Al-Ghamdi, NCB’s Chairman announced that total operating income increased to SAR 14,171million compared to SAR 13,830million for the same period of the previous year, an increase of 2.5%. Furthermore, net special commission income reached to SAR 10,629million compared to 10,286million, an increase of 3.3%.On the other hand, impairment charges for financing losses decreased by SAR 664million compared to the same period of the previous year.  

 

Al-Ghamdi added that the Bank’s total assets reached SAR 459billion compared to SAR 446billion at the end of the same period last year an increase of 2.9%. Total shareholders’ equity attributable to equity holders of the bank increased to SAR 63billion from SAR 61billion in the same period last year, an increase of 1.7%. Earnings per share grew to 2.59Riyal compared to 2.34Riyal at the end of the same period of the previous year.

 

Financing and advances increased to SAR 268billion at the end of the period compared to SAR 257 billion at the end of the same period last year. Customer deposits reached SAR 325billion compared to SAR 303billion year-over-year.

 

Al-Ghamdi 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 employees for their contribution and support to help achieve these results.