NCB’s net profit edges up to SAR 8.08 bln in 9M 2020
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National Commercial Bank (NCB) reported a net profit of SAR 8.08 billion for the first nine months of 2020, a slight increase from a profit of SAR 8.01 billion in the same period the previous year.
The uptick was attributed to higher total operating income, which was partially offset by higher total operating expenses, including impairments.
Net Special Commission Income
The net profit of Q3 2020 stood at SAR 3.15 billion, up 23.8% year-on-year (YoY), due to higher total operating income and lower total operating expense, including impairments. This was partially offset by higher other non-operating expense.