Sign In

NCB’s net income reached SR 4,961 million in the first half of 2014

Sunday, 13 July, 2014

​​an increase of 14.7% over the same period last year​

​The National Commercial Bank announced that net income attributable to equity holders of the bank for the first half of 2014 reached SR 4,961 million compared to SR 4,324 million for the same period of the previous year, an increase of 14.7%. Net income for the second quarter amounted to SR 2,425 million, which compares to SR 1,992 million for the same quarter of the previous year, an increase of 21.7%. 

Mr. 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 by 8.3%, an increase of 3.9% in fee income from banking services, and an increase of 11.2% in foreign exchange income. compared to the same period of the previous year. 

Al-Maiman added that the Bank’s total assets grew to reach SR 436 billion compared to SR 363 billion at the end of the same period of the previous year, an increase of 20%. Total shareholders’ equity reached SR 46.4 billion compared to SR 41.6 billion at end of the same period of the previous year, an increase of 11.4%. Earnings per share reached 2.5 riyal compared to 2.2 riyal at the end of the same period of the previous year.

The loans and advances portfolio grew to SR 206 billion compared to SR 178 billion at the end of the same period last year, an increase of 15.7%; customer deposits grew to SR 346 billion compared to SR 288 billion at the end of the same period of the previous year, an increase of 20%.

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.