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Saudi's National Commercial Bank Q1 net profit up 2.7 pct
April 18, 2017 / 5:18 AM / 5 months ago

Saudi's National Commercial Bank Q1 net profit up 2.7 pct

DUBAI, April 18 (Reuters) - Saudi Arabia’s National Commercial Bank (NCB), the kingdom’s largest lender, reported a 2.7 percent rise in first-quarter net profit on Tuesday.

The bank’s net profit rose to 2.70 billion riyals ($720 million) in the three months to March 31, from 2.63 billion riyals in the same period of 2016, it said in a bourse statement.

SICO Bahrain had forecast NCB would make a quarterly profit of 2.39 billion riyals for the period.

$1 = 3.7502 riyals Reporting By Tom Arnold; Editing by Gopakumar Warrier

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