Riyadh - Mubasher: The National Commercial Bank (NCB) reported a decline in net profits by 0.86% for the second quarter of the year, as shown by the bank’s financial statements.

Profits reached SAR 2.147 billion in the three-month period that ended 30 June 2017, compared to SAR 2.438 billion for the same period of last year, the bank said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

The bank attributed the slip in profits to a lower operating income, which was almost fully offset by a decline in operating expenses, which went down by 10% or SAR 220 million.

As for the first half of 2017, profits grew by 1.03% to SAR 5.120 billion up from SAR 5.068 billion in H1-16.

Earnings per share reached SAR 2.49 compared to SAR 2.47 in the corresponding period of the year before.