The National Commercial Bank announced that its net income for the of 2018 reached SAR 8,020 million compared to SAR 7,242 million for the same period of the previous year, an increase of 00.7%. NCB’s net income for the third quarter reached to SAR 2,454 million compared to SAR 2,621 million for the same period of the previous year, an increase of 61.4%.

Mr. Saeed Al-Ghamdi, NCB’s Chairman announced that total operating income increased to SAR 64,676 million compared to SAR 61,018 million for the same period of the previous year, an increase of 2.1%. Furthermore, net special commission income reached to SAR 68,126 million compared to 68,201 million, an increase of 1.3%.On the other hand, impairment charges for financing losses decreased by SAR 4 6 6 million compared to the same period of the previous year.

Al-Ghamdi added that the Bank’s total assets reached SAR 425 billion compared to SAR 446

billion at the end of the same period last year an increase of 2.9%. Total shareholders’ equity attributable to equity holders of the bank increased to SAR 63 billion from SAR 60 billion in the same period last year, an increase of 0.7%. Earnings per share grew to 2.25

Riyal compared to 2.34 Riyal at the end of the same period of the previous year.

Financing and advances increased to SAR 268 billion at the end of the period compared to SAR 257 billion at the end of the same period last year. Customer deposits reached SAR 322billion compared to SAR 303 billion year-over-year.

Al-Ghamdi 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 employees for their contribution and support to help achieve these results.

-Ends-

© Press Release 2018

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