Financial and Banking News
NCB Profits Drop
Profits at the National Commercial Bank (NCB) of Saudi Arabia dropped by 80% during AH1405 (year ending 14 September 1985) according to summary results published in the press last week. Profits fell from SR499.5mn to SR99.6mn as a result of an increase in provisions from SR425mn to SR691mn. Total income actually increased from SR4.68bn to SR4.90bn.
Customer deposits declined from SR44.83bn to SR43.61bn and total assets (less...