JEDDAH, 15 October 2005 — The National Commercial Bank (NCB) yesterday announced that its third quarter profits this year amounted to SR3.74 billion, which is 43 percent more than the profits it gained during the same period last year. Total rights of NCB’s shareholders rose 57 percent to reach SR19.53 billion, a report issued by the bank said, adding that the bank had maintained its profitability level. The bank’s returns from assets increased by 3.7 percent and from shareholders’ rights 30 percent.
“The basis of this record results is the great confidence attained by NCB from its clients as their deposits in the bank totaled SR102.75 billion,” said Abdullah Bahamdan, chairman and managing director of NCB. NCB’s loans and credits rose by 23.2 percent during the same period to reach SR73.89 billion. Total assets of NCB are estimated at SR140.47 billion.