NO. 26


Financial and Banking News

Bank Results

NCB Declares 18% Increase In Profits As Recovery Continues

Jiddah-based National Commercial Bank (NCB) has declared an 18% increase inprofits for 1993 and a 5% increase in balance sheet size. The results as a wholeconfirm the fact that the bank is continuing on an upward trend in line with thenew strategy initiated in 1993. The net profit of SR503.2mn ($134mn) would havebeen much higher but for provisions of SR856.5mn...