Riyadh – Mubasher: Saudi’s National Commercial Bank (NCB) posted 0.96% growth in net profit for the first quarter of 2016 to SAR 2.63 billion ($701.5 million), compared to SAR 2.6 billion ($695 million) in the same period of 2015, according to a bourse filing sent Tuesday.
The rise was attributed to the increase in operating income by 5.5% due to stronger special commission and fees revenues.
Meanwhile, the lender’s operating expenses rose 11.5% as result to higher general and administrative expenses.
