Riyadh – Mubasher: National Commercial Bank (NCB) on Tuesday reported a 9% year-on-year growth in profits for the full year of 2018.

The Saudi lender’s net profits amounted to SAR 10.66 billion from January to December 2018, compared to SAR 9.80 billion in the prior-year period, according to a statement to the Saudi Stock Exchange (Tadawul).

The bank ascribed the profit rise to an increase in operating income, coupled with lower operating expenses.

The total value of revenues for special commissions and investments levelled up 8% to SAR 18.30 billion in 2018, compared to SAR 16.98 billion in the year before.

NCB’s net income for special commissions and investments advanced 5% to SAR 14.37 billion last year, against SAR 13.66 billion in 2017.

Earnings per share (EPS) amounted to SAR 3.44 in the January-December period of 2018, up from SAR 3.16 a year earlier.

NCB’s stock went up 1.76% to close Monday’s trading session at SAR 52.