DUBAI Oct 16 Saudi Arabia's National Commercial
Bank (NCB) reported a 1.6 percent fall in
third-quarter net profit on Sunday, missing analysts' forecasts,
as the kingdom's largest listed lender was forced to set aside
more cash for bad loans.
The bank made a net profit of 1.96 billion riyals ($523
million) in the three months to Sept. 30, down from 1.99 billion
riyals in the same period of 2015, it said in a bourse
Three analysts had forecast on average NCB would make a
quarterly profit of 2.31 billion riyals.
The bank cited an 18.7 percent jump in total operating
expenses, caused by higher impairments on financings and
(Reporting by David French; Editing by Andrew Torchia)