News Column

NCB net income increases to SAR 4,961 million for H1 2014

July 15, 2014



The National Commercial Bank announced that net income attributable to equity holders of the bank for the first half of 2014 reached SAR 4,961 million compared to SAR 4,324 million for the same period of the previous year, an increase of 14.7 per cent.

Net income for the second quarter amounted to SAR 2,425 million, which compares to SAR 1,992 million for the same quarter of the previous year, an increase of 21.7 per cent. 

Net special commission income increased by 8.3 per cent. This represents an increase of 3.9 per cent in fee income from banking services, and an increase of 11.2 per cent in foreign exchange income compared to the same period of the previous year. 

The Bank's total assets grew to reach SAR 436 billion compared to SAR 363 billion at the end of the same period of the previous year, an increase of 20 per cent. Total shareholders' equity reached SAR 46.4 billion compared to SAR 41.6 billion at end of the same period of the previous year, an increase of 11.4 per cent. Earnings per share reached SAR 2.5 compared to SAR 2.2 at the end of the same period of the previous year.

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


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Source: CPI Financial


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