JEDDAH: The National Commercial Bank (NCB) announced that net income for the first half 2015 reached SR4.968 billion compared to SR4.961 billion for the same period of the previous year, an increase of 0.2 percent.

The bank’s net profit for the second quarter reached SR2,363 million compared to SR2,425 million for the same quarter of the previous period, a decrease of 2.6 percent.

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. 

Although there was a one-off income in the first half of 2014 from the liquidation of an associate company, NCB’s net income attributable to equity holders of the bank recorded a growth in the first half of 2015 compared to the previous year.

Al-Maiman said that the bank’s total assets grew to reach SR461 billion compared to SR436 billion at the end of the same period of the previous year, an increase of 5.9 percent.

Total shareholders’ equity reached SR50.5 billion compared to SR46.4 billion,for the same period of the previous year, an increase of 9 percent.

Earnings per share reached SR2.5 compared to SR2.5 at the end of the same period of the previous year.

Loans and advances increased to SR233 billion compared to SR206 billion at the end of the same period of the previous year, an increase of 13 percent.

Customer deposits grew to SR360 billion compared to SR346 billion at the end of the same period of the previous year, an increase of 4.3 percent.

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.