Saudi Arabia’s National Commercial Bank posts 24% rise in quarterly profit
Saudi Arabia’s National Commercial Bank posted a rise in net profit of 23.8% for the third-quarter on higher operating income and lower impairments.
NCB’s profit reached 3.158 billion riyals ($0.842 million) for July through September, compared to 2.551 billion riyals for the same period last year, it reported in a bourse filing on Tuesday (Oct 27).
The bank said total operating income increased by 12.8% mainly due to higher net special commission income, investment-related income and higher fees including from banking services.
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