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NCB’s net income reached SR 6,830 million in the nine month of 2014, an increase of 12.8% over the same period last year

Wednesday, 22 October, 2014

​The National Commercial Bank announced that net income attributable to equity holders of the bank for the nine month of 2014 reached SR 6,830 million compared to SR 6,057 million for the same period of the previous year, an increase of 12.8%. Net income for the third quarter amounted to SR 1,869 million, which compares to SR 1,733 million for the same quarter of the previous year, an increase of 7.8%. 

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 11.0%, an increase of 8.8% in fee income from banking services.

Al-Maiman added that the Bank’s total assets grew to reach SR 438 billion compared to SR 367 billion at the end of the same period of the previous year, an increase of 19.2%. Total shareholders’ equity reached SR 46.3 billion compared to SR 41.9 billion at end of the same period of the previous year, an increase of 10.5%. Earnings per share reached 3.42 riyal compared to 3.04 riyal at the end of the same period of the previous year.

The loans and advances portfolio grew to SR 214 billion compared to SR 184 billion at the end of the same period last year, an increase of 15.8%; customer deposits grew to SR 344 billion compared to SR 295 billion at the end of the same period of the previous year, an increase of 16.7%.

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.