The National Commercial Bank (NCB) announced that net income for the first half 2016 reached SR5,068 million compared to SR4,968 million for the same period of the previous year, an increase of 2%. NCB net profit for the second quarter reached to SR2,438 compared to SR2,363 million for the same quarter of the previous period, a increase of 3.2%. Mansour Al-Maiman, NCB's chairman, said the bank's growth and diversity of its financing and investment products has contributed to an increase decrease in net special commission income and foreign exchange income, net by 9.1% and 13.3%, respectively. Al-Maiman added that the bank's total assets reach SR453 billion compared to SR461 billion at the end of the same period of the previous year. Total shareholders' equity reached SR59.7 billion compared to SR50.5 billion, for the same period of the previous year, an increase of 18.2%. Earnings per share reached 2.53 riyal compared to 2.49 riyal at the end of the same period of the previous year. Loans and advances increased to SR265 billion compared to SR234 billion at the end of the same period of the previous year, an increase of 13%. Customer deposits reach to SR315 billion compared to SR361 billion at the end of the same period of the previous year.
