Riyadh-Mubasher: The National Commercial Bank (NCB), the kingdom's largest bank, posted net earnings of SAR 2.1 billion for the fourth quarter of 2015, a rise of 16.5% over SAR 1.8 billion in the year-ago period.
Full-year net income also increased by 5% year-on-year to SAR 9 billion from SAR 8.6 billion.
Q4-15 profit growth was fuelled by growth in total operating income by 10% during the period despite the significant reduction in income from FVIS investments and gains on non-trading investments, the lender said.
It attributed the full-year profit rise to increase in total operating income by 8%, which was mainly driven by higher net special commission income and higher FX.
