Third quarter profits fall at National Commercial Bank

15 November 2007

Profits at National Commercial Bank rose to SR4.8bn ($1.28bn) in the first nine months of 2007, up 15.3 per cent on the same period last year.

However third quarter profits were down 14 per cent on the same period in 2006, reversing a 24 per cent rise in the second quarter. For the three months to 31 September 2007 the bank reported profits of $337m, down from $392m in the same period of 2006.
Total assets held by the bank grew by 24 per cent over last year, to reach SR192bn ($51.4bn) by the end of September.
The bank’s loan book rose by 12.5 per cent to SR86.8bn ($23.2bn) and customer deposits rose by 20 per cent to SR136bn ($36.4bn).
Total shareholder equity rose by almost 15 per cent to SR27bn ($7.2bn).

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