NCB’s net income rises to SR5.07bn in H1

The National Commercial Bank (NCB) announced that net income for the first half 2016 reached SR5.07 billion compared to SR4.97 billion for the same period of the previous year, an increase of 2 percent. NCB net profit for the second quarter reached to SR2.44 billion compared to SR2.36 billion for the same quarter of the previous period, a increase of 3.2 percent.
Mansour Al-Maiman, NCB’s chairman said the bank’s total assets reach SR453 billion compared to SR461 billion at the end of the same period of the previous year. Total shareholders’ equity reached SR59.7 billion compared to SR50.5 billion, for the same period of the previous year, an increase of 18.2 percent. 
Earnings per share reached SR2.53 compared to SR2.49 at the end of the same period of the previous year.
Loans and advances increased to SR265 billion compared to SR234 billion at the end of the same period of the previous year, an increase of 13 percent. Customer deposits reach to SR315 billion compared to SR361 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.

Source: Arab News