Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



NCB's profit up by 23 percent in 2011
Published in The Saudi Gazette on 15 - 01 - 2012

The National Commercial Bank (NCB) has made a profit of SR 6.012 million in 2011 registering a 27.3 percent increase over 2010, a press statement of the bank said here Saturday.
“Despite the prevailing low rates, the bank's net special commission income during the year increased by 5.3 percent to SAR 8,581 million,” Sheikh Abdullah Bahamdan chairman of the bank said. “The increase in shareholders' equity and customer deposits enabled the bank to increase its assets.”
Shareholders' equity increased by SR 2.7 billion, or 8.3percent, to SAR 35.6 billion, while customer deposits increased by SR 10.3 billion, or 4.5 percent, to reach SAR 239.5 billion. Total assets increased by 6.7 percent to reach SR 301.2 billion. This increase was reflected in expanded lending activities, with the loan portfolio increasing by 7.7 percent to reach SR 135.3 billion.
The bank continued to effectively manage its credit risk, taking provisions in 2011 in accordance with its prudent provisioning methodology. As a result, its coverage ratio increased to 140.9 percent in 2011 from 116.9percent in 2010.
The bank succeeded in increasing its return on equity to 18.4 percent in 2011 from 15.6 percent in 2010. The capital adequacy ratio (tier 1 and 2) was 18.2 percent.
Bahamdan attributed the bank's positive results to its success in developing suitable products for its target segments. The results also reflect its successful strategies, which enabled it to achieve its shareholders' expectations, grow and diversify its sources of revenue and build its financial and human resources to providing superior customer service.
The bank also maintained its A+ rating from the global rating agencies, Standard & Poor's and Fitch Ratings. This is the highest rating given to any bank in Saudi Arabia and reflects the bank's financial strength and high liquidity levels, as well as the bank's leading local and regional position.
Bahamdan expressed his gratitude to Government of the Custodian of the Two Holy Mosques and the Saudi Arabian Monetary Agency, whose financial and monetary policies contributed significantly to the improvement of the economic environment in the Saudi businesses.


Clic here to read the story from its source.