Riyadh – Mubasher: National Commercial Bank (NCB) posted a 5.9% year-on-year increase in net profits during the first quarter of 2019.

NCB’s profits amounted to SAR 3.164 billion in Q1-19, compared to SAR 2.986 billion in the year-ago period, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

The profit growth was ascribed to the 3.6% increase in total operating income, supported by higher net special commission income and investment-related income.

Quarter-on-quarter, the Saudi lender’s profits surged 19.5% from SAR 2.647 billion in Q4-18.