Saudi NCB net profit up 11.8 pct as expenses, impairments drop

Saudi NCB net profit up 11.8 pct as expenses, impairments drop:

"Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s largest lender, reported an 11.8 percent rise in fourth-quarter net profit on Tuesday, helped by a drop in expenses and lower impairment charges.

The bank made a net profit of 2.56 billion riyals ($683 million) in the three months to Dec. 31, up from 2.29 billion riyals in the same period of 2016, it said in a bourse statement.

SICO Bahrain had forecast NCB would report a profit of 2.16 billion riyals."



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