Al Ahli Bank revealed in a statement to the Saudi market that profits rose during the second quarter of this year to approximately 5.23 billion riyals (about 14 billion dollars) in the second quarter of this year, compared to 5.01 billion riyals in the corresponding quarter of 2023.
On a quarterly basis, the bank’s profits grew by approximately 3.79 percent compared to the first quarter of this year, which ended at 5.04 billion riyals.
He explained in his statement, Sunday, that the total income from special commissions from financing increased by 20.63 percent to 11.13 billion riyals in the second quarter of this year, compared to about 9.22 billion riyals in the same period last year.
This was attributed to a 20.6 percent increase in income from the financing portfolio and a 20.6 percent increase in special commission income from the investment portfolio.
The National Commercial Bank attributed the increase in net profit during the second quarter of this year to the increase in net income attributable to shareholders’ equity for the second quarter of 2024 to 5.2 billion riyals, by 4.3 percent, as a result of the increase in total operating income.
During the first half of this year, the bank’s net profits increased by 2.32 percent, reaching 19.27 billion riyals, compared to approximately 10.04 billion riyals in the same period last year.
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