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Saudi's National Commercial Bank Q4 net profit up 7.5 pct
January 18, 2017 / 1:17 PM / 8 months ago

Saudi's National Commercial Bank Q4 net profit up 7.5 pct

DUBAI, Jan 18 (Reuters) - Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s largest lender, reported a 7.5 percent rise in fourth-quarter net profit on Wednesday.

The bank made a net profit of 2.29 billion riyals ($611 million) in the three months to Dec. 31, up from 2.13 billion riyals in the same period of 2015, it said in a bourse statement.

Analysts Alistithmar Capital and SICO Capital had given forecasts for NCB’s fourth-quarter net profit of 2.0 billion riyals and 2.09 billion riyals respectively. ($1 = 3.7505 riyals) (Reporting By Tom Arnold; Editing by Susan Fenton)

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