The reason for the increase in profits during the current quarter, compared to the same quarter of the previous year, is due to the increase in total operating income by 3.6%, due to an increase in net special commission income And investment income, and other operating expenses decreased, partly offset by a decrease in banking service fee income and foreign exchange income.
The total operating expenses increased by 0.7% due to an increase in the provision for financing losses, depreciation / amortization of property, equipment and programs, and other general and administrative expenses, in contrast, decreased Rents, building expenses, employee salaries and expenses, and the decrease in the amount of investment losses decreased.
It is worth noting that the share of the National Commercial Bank, the largest Saudi bank, increased by 3.5% in the fourth quarter of 2018, according to calculations conducted by Reuters, while the annual profits were consistent With the analysts' expectations.
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