VOL. XL

No. 9

3-March-1997

SAUDI ARABIA

NCB Profits Jump A Further 31%

Saudi Arabia's largest bank, National Commercial Bank (NCB), has produced its fifth consecutive year of increased earnings, as profits in 1996 rose 31% to reach SR915mn ($244mn). The improvement arises from all income streams but in particular from net interest income, which increased by 34% to SR1,186mn, while earnings from investment securities remained at roughly their 1995 highs. Over recent years, the bank has sacrificed...