12.6 billion riyals, the profits of the National Bank in 2021 .. increased by 10.7%

  • Time:Dec 22
  • Written : smartwearsonline
  • Category:Smart clothes

Al-Eqtisadiah from Riyadh

12.6 billion riyals, profits of the National Bank in 2021 .. It increased by 10.7%.</p><p>The National Bank of Saudi Arabia announced that it achieved a net profit of 12.6 billion riyals during the fiscal year 2021, an increase of 10.7 percent, compared to the profits it recorded for the year 2020, which amounted to 11.4 billion riyals.</p><p>After the bank's merger with Samba Financial Group, as of April 1, 2021, net income attributable to shareholders' equity increased by 10.7% due to an increase in total operating income, partially offset by an increase in operating expenses, including the provision for expected credit losses.Total operating income increased by 32.6% as a result of Due to the increase in net special commission income, investment income*, income from fees from banking services and foreign currency exchange income partially offset by an increase in other operating expenses.</p><p>Total operating expenses, including credit losses, increased by 63.2%, mainly due to the increase in the net impairment allowance for expected credit losses related to the first day of the merger in accordance with international accounting standards, other general and administrative expenses, employee salaries and expenses, depreciation / amortization of property , equipment, software, right-of-use assets, amortization of intangible assets and rental and building expenses.</p>Post it<h3>Attributes</h3>Company NewsSaudi Companies Results<h4>Add Comment</h4></div> </div> </div> <div style=