NCB’s net income reached SR 5,120 million for the first half of 2017

The National Commercial Bank announced that net income for the first half 2017 reached SR 5,120 million compared to SR 5,068 million for the same period of the previous year, an increase of 1.0%,NCB net profit for the second quarter reached to SR 2,417 compared to SR 2,438 million for the same quarter of the previous period, a decrease of 0.8%.

Mr. 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 SR 450 billion compared to SR 453 billion at the end of the same period of the previous year. Total shareholders’ equity attributable to the equity holder of the bank reached SR 59.9 billion compared to SR 57.6 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 SR 257 billion compared to SR 265 billion at the end of the same period of the previous year. Customer deposits reach to SR 315 billion compared to SR 315 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.