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Saudi lenders reported over SR35bn in combined income last year
- Saudi Arabia: Monday, March 11 - 2013 at 06:34
According to a report by the National Commercial Bank (NCB), net income reported by the 12 locally incorporated banks during 2012 grew 11% year-on-year to SR35.1bn, Arab News has reported. New credit facilitates granted by the banks to the public and private sector over the course of 2012 increased 16.7% to SR143.4bn, while net special commission income accelerated by 5.3% last year as the low interest rate environment was offset by expanding the loans portfolio, the report said.
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