Riyadh – Mubasher: The National Commercial Bank (NCB) achieved a rise of 8.36% in profits during the third quarter of 2017 compared to the same quarter of 2016, according to a bourse statement issued on Sunday.

Meanwhile, the bank has reported a decline of 12.04% in profits during Q3-17 compared to the second quarter of the same year.

NCB’s earnings increased to SAR 2.12 billion in Q3-17 from SAR 1.96 billion in Q3-16, and compared to SAR 2.41 billion in Q2-17.

The growth in profits is attributed to “Higher net income derived from improvement in operating expenses partly offset by lower total operating income,” NCB said in its statement.

During the first nine months of 2017, the bank registered an increase of 3.07% in profits to SAR 7.24 billion compared to SAR 7.03 billion in the same period last year.

At the stock level, the NCB’s stock closed Sunday 0.65% lower at SAR 48.6.