- JEDDAH: The National Commercial Bank (NCB) announced that its net income for the first quarter 2012 reached SR1.95 billion compared to SR1.50 billion for the same quarter of the previous year.
This is an increase of 30 percent over first quarter of last year and 27 percent over the previous quarter.
According to a statement, NCB Chairman Abdulla Bahamdan said the bank’s total assets grew significantly to reach SR314 billion compared to SR299 billion at the end of the same period of the previous year, an increase of 4.9 percent.
Total shareholders’ equity reached SR37 billion compared to SR34 billion for the same quarter of the previous year, an increase of 7.1 percent over the same period of the previous year.
Loans and advances increased to SR142 billion compared to SR125 billion at the end of the same period of the previous year, an increase of 14.0 percent. Customer deposits grew to SR248 billion compared to SR239 billion at the end of the same period of the previous year, an increase of 3.6 percent.
