, Singapore

Saudi Arabia's National Commercial Bank profit up 6.7% to $688m in Q1

Higher fees and commissions buoyed quarterly earnings.

Reuters reports that the profit of Saudi Arabia’s largest lender National Commercial Bank (NCB) rose 6.7% YoY to $688m (2.58b riyals) in Q1 on the back of higher fees, commissions and investments. 

Despite posting higher operating expenses, a 4.1% increase in operating income and 2.9% special commission income was able to offset overhead costs.

Loans and advances also inched up 3.6% YoY to $70.94b (266.04b riyals).

Here’s more from Reuters:

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!