Please wait...
GulfBase Live Support
- Lebanon receives preliminary approval to increase World Bank loan to $400m
- China Exempts Some Goods from US Tariffs to Limit trade War Pain
- Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as 9th year milestone marked
- Foreign investors remain net buyers of GCC stock market in first quarter
- Quarterly earnings announcement, tariff hold supports QSE index rise
- Gold prices drop more than 1%
- Saudi Arabia's Vision 2030 enters final phase with strong momentum
- Saudi Arabia takes part in European Economic Congress
- UAE jobs: Etihad Airways to hold career fair for Emiratis on May 22
- Adnoc Distribution to operate 500 high-power EV chargers by 2028
22/10/2017 18:52 AST
Saudi Arabia's National Commercial Bank (NCB), the kingdom's largest lender, reported a 8.4 percent rise in third-quarter net profit on Sunday, helped by a fall in expenses and provisions for bad loans.
The bank made a net profit of 2.13 billion riyals ($568 million) in the three months to Sept. 30, down from 1.96 billion riyals in the same period of 2016, it said in a bourse statement.
SICO Bahrain forecast NCB would make a quarterly profit of 2.29 billion riyals.
The bank was helped by a fall in operating expenses and impairment charges for financing and investments.
Banks in the kingdom have been helped by an improvement in liquidity in recent months but analysts have warned that lenders are likely to face a rise in non-performing loans as the economy continues to slow.
Earlier on Sunday, Al Rajhi Bank, the kingdom's second-largest lender by assets, reported a 12.7 percent rise in third-quarter net profit, in line with analysts' forecasts.
Deposits at NCB, which has perhaps the closest links to the government, slipped 2.8 percent year on year to 302.59 billion riyals at the end of September, continuing the decline in levels seen in the first half of 2017 and 2016.
Saudi banks faced an outflow of deposits last year as falling oil prices strained public finances. Most of those deposits have since returned.
Reuters
23/04/2025
The Saudi National Bank (SNB), the largest bank in Saudi Arabia, announced a net income of SR6.0 billion for the first quarter of 2025, representing its highest-ever quarterly financial results. This
Arab News
31/12/2017
The Board of Directors of NCB has recommended on 28-12-2017 corresponding to 10-04-1439H to an Extraordinary General Shareholders Assembly (EGAM) an increase the Banks capital through bonus shares as
Tadawul
24/10/2017
Nahed Taher, the first female Saudi senior economist at National Commercial Bank and the founder of Gulf One Investment Bank, has set up a joint investment vehicle with the investment arm of one the
The National
| Ticker | Price | Volume |
|---|
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia