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NCB posts net income of SR3.69b for ’08 H1
JEDDAH – The National Commercial Bank (NCB) has posted a net income of SR3.697 billion for the first half of 2008, an increase of 4.3 per cent compared to the first half of 2007. The results include 60 per cent acquisition of Türkiye Finans Katýlým Bankasý A., where its results were consolidated for the first time with effect from April 1, 2008.
“The foundation of these excellent results is the strong level of trust that NCB has earned from its valued customers, the bank’s broad range of products and services, and the deep commitment of its management and staff to improve service quality and forge closer ties with our customers,” said Abdullah Salim Bahamdan, NCB chairman.
He said that the bank had recorded a significant increase in its income from core activities - net special commission income increased by SR581 million (18.1 per cent) and fees from banking services rose by SR237 million (23.9 per cent). Total assets increased 23.2 per cent to reach SR226.745 billion at the end of June 30.
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