Saudi National Commercial Bank (NCB) reported profits exceeding $315 million (SR 1.184 billion) during the first half of 2001. The new figure implies a 38.2 percent rise of $87.2 million compared with the corresponding period of the previous year, according to Al-Hayat daily.
The total value of customer deposits rose to $20.3 billion (SR76.3 billion) by the end of the first half of 2001, reflecting a 10.3 percent increase compared with last year.
NCB was the first Saudi bank to be established in the Kingdom, and presently is considered the largest in the Arab world with 257 branches.
This past May, NCB launched the kingdom’s first online brokerage for trading in international securities. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
