The Bank achieved net income for the 9 months of 2009 amounted to SR3,271m, 28% below the same period of last year. The decline is mainly attributed to building provisions for loans and advances as a prudent measure to safeguard the strength of its financial position in line with NCB's conservative approach.
The Bank's core activities for the 9 months continued to grow with net special commission income rising by 2.6%. Customer deposits recorded robust growth with an increase of 27% reaching SR198,387m by September 30, 2009. Moreover, the loans and advances reached SR116,514m, total assets amounted to SR253,055m and total shareholders' equity amounted to SR28,729m at September 30, 2009.
The Chairman of NCB's Board of Director, Sh. Abdullah Bahamdan, commented on the Bank's results by expressing his deep gratitude to the Bank's clients, shareholders, Board of Directors and staff for their continued support of NCB to achieve these results.
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NCB net income achieves SR1,034m for the third quarter of 2009
- Saudi Arabia: Sunday, October 18 - 2009 at 09:29
- PRESS RELEASE
The National Commercial Bank announced that the Bank achieved net income of SR1,034m for the third quarter of 2009, an increase of SR177m which is 21% above the results of third quarter of 2008.
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Log in to request more information from National Commercial Bank (NCB)
Notes and media contacts
Contact:Ghassan Hussein Badkook
Manager
Corporate Public Relations Department
The National Commercial Bank
P.O. BOX 3555, Jeddah 21481, Kingdom of Saudi Arabia
T: +966 (2) 646-3252
F: +966 (2) 644-6468
Posted by Rana MesbahSunday, October 18 - 2009 at 09:29 UAE local time (GMT+4)
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