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NCB’s net income reached SR 6,057 million in the nine months of 2013

Wednesday, 16 October, 2013

​The National Commercial Bank announced that net income for the nine months of 2013 reached SR 6,057 million compared to SR 5,042 million for the same period of the previous year, an increase of 20.1%. Net income for the third quarter amounted to SR 1,733 million, which compares to SR 1,480 million for the same quarter of the previous year, an increase of 17.1%.The National Commercial Bank announced that net income for the nine months of 2013 reached SR 6,057 million compared to SR 5,042 million for the same period of the previous year, an increase of 20.1%. Net income for the third quarter amounted to SR 1,733 million, which compares to SR 1,480 million for the same quarter of the previous year, an increase of 17.1%.

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 8.7% and an increase of 3.3% in fee income from banking services, compared to the same period of the previous year.

Al-Maiman added that the Bank’s total assets grew to reach SR 367 billion compared to SR321 billion at the end of the same period of the previous year, an increase of 14.4%.  Total shareholders’ equity reached SR42 billion compared to SR38.4 billion at end of the same period of the previous year, an increase of 9%. Earnings per share reached 4.05 riyal compared to 3.37 riyal at the end of the same period of the previous year.

The loans and advances portfolio grew to SR184 billion compared to SR157 billion at the end of the same period last year, an increase of 17.3%;customer deposits grew to SR295 billion compared to SR 251 billion at the end of the same period of the previous year, an increase of 17.3%.

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.