Riyadh – Mubasher: The National Commercial Bank (NCB) achieved a year-on-year increase of 23.97% in profits during the second quarter of 2019.
The preliminary financial statements of the NCB showed that net profits soared to SAR 2.69 billion in Q2-19 from SAR 2.17 billion in Q2-18, according to a bourse disclosure on Wednesday.
NCB highlighted that the growth in net profits is attributed to an increase in gross income and operations expenses due to impairment of losses.
During the first half of 2019, the bank posted SAR 5.46 billion worth of profits, up 14.54% when compared to SAR 4.77 billion in the same half a year ago.
It is worth to mention that during the first quarter of 2019, the NCB achieved a rise of 5.95% in profits to SAR 3.16 billion from SAR 3 billion in Q1-18.
