NCB’s net income rises to SR 4.32 bn



JEDDAH: ARAB NEWS

Published — Wednesday 10 July 2013

Last update 10 July 2013 3:10 am

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The National Commercial Bank (NCB) announced that net income for the first half of 2013 reached SR 4.32 billion compared to SR 3.56 billion for the same period of the previous year, an increase of 21.4 percent. Net income for the second quarter amounted to SR 1.99 billion, which compares to SR 1.61 million for the same quarter of the previous year, an increase of 23.9 percent.
Mansour Al-Maiman, chairman of the board of directors of NCB, said the bank’s total assets grew to SR 363 billion compared to SR 320 billion at the end of the same period of the previous year, an increase of 13.2 percent. Total shareholders’ equity reached SR 41.6 billion compared to SR 36.8 billion at end of the same period of the previous year, an increase of 13 percent. Earnings per share reached SR 2.9 compared to SR 2.4 at the end of the same period of the previous year.
The loans and advances portfolio grew to SR 178 billion compared to SR 150 billion at the end of the same period last year, an increase of 18.6 percent; customer deposits grew to SR 288 billion compared to SR 250 billion at the end of the same period of the previous year, an increase of 15.1 percent.
Al-Maiman expressed 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.

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