National Commercial Bank (NCB) reported net profit of SR 11.4 billion ($3.04 billion) for 2020, up 0.3 percent year-on-year (YoY), due to a 4.3 percent rise in gross operating income, partially offset by increased operating expenses including impairments.
The bank also cited higher net special commission income, and increased investment-related income.
Q4 2020 net earnings stood at SR 3.36 billion, down 0.9 percent YoY.
Total shareholders’ equity, excluding minority interest, rose by 16 percent YoY to SR 79.41 billion in 2020.
