NCB’s net income reached SR 7,030 million for the nine months of 2016

The National Commercial Bank announced the net income for the nine month of 2016 reached SR 7,030 million compared to SR 6,963 million for the same period of the previous year, an increase of 1%, NCB net profit for the third quarter reached to SR 1,962 compared to SR 1,994 million for the same quarter of the previous period, a decrease of 1.6%.

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 in net special commission income and foreign exchange income, net by 8.2% and 7.1% respectively.

Al-Maiman added that the Bank’s total assets reach SR 439 billion compared to SR 477 billion at the end of the same period of the previous year. Total shareholders’ equity attributable to equity holders of the bank reached SR 59 billion compared to SR 51 billion, for the same period of the previous year, an increase of 15%. Earnings per share reached 3.52 riyal compared to 3.48 riyal at the end of the same period of the previous year.

Loans and advances portfolio increased to SR 260 billion compared to SR 239 billion at the end of the same period of the previous year, an increase of 9%. Customer deposits reach to SR 311 billion compared to SR 367 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.