NCB Financial sees increase in net profit

NCB Financial Group's net profit for the nine months to June increased by $12 billion, or 86 per cent, to $25.9 billion.

NCB's net operating income was $105.6 billion which was 15 per cent or $13.8 billion higher when compared to the same period last year.

The financial conglomerate says this was mainly driven by an improvement in net operating income due to increased net revenues from the consumer and small and medium-sized enterprises, life and health insurance, and treasury and payment services segments.

The net result from banking and investment activities of $80.1 billion represented an improvement of nine per cent or $6.4 billion over the prior year.
Despite the improved performance, the directors of NCB on Thursday decided not to pay an interim dividend.

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