Riyadh – Mubasher: National Commercial Bank - Saudi Arabia (NCB) posted a decline of 1.6% year-on-year in earnings during the third quarter of 2016 as compared to the same period a year ago.
NCB achieved a net profit of SAR 1.96 billion ($523.2 million) in Q3-16 as compared to about SAR 2 billion ($531.73 million) in Q3-15, according to a bourse statement issued Thursday.
The fall in profits was due to higher operation expenses with 18.7%, the statement said.
During the nine-month period, profits gained 0.96% to reach SAR 7.03 billion this year as compared to SAR 6.96 billion in the corresponding period of 2015.
