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NCB Financial reports $65m operating income for six months to March

NCBFG Chief Financial Officer Malcolm Sadler
By Javaughn Keyes
 
The NCB Financial Group realised operating income of $65.25 billion for the six months to March.
 
Group Chief Financial Officer Malcolm Sadler said this reflects a 17 per cent increase, or $9.4 billion. 
 
"Four of the seven business segments reported improved results, with the life, health and pension segment accounting for the largest increase. Net revenues from banking and investment activities of $40 billion experienced a modest increase of $817 million or 2% over the prior year," he disclosed.  
 
He said improved net fee and commission income and interest income were the main drivers, primarily resulting from growth in the loan and investment portfolios as well as increased transaction volumes.
 
Chief Financial Officer at the NCB Financail Group, Malcolm Sadler.
 
Mr. Sadler was speaking at the company's investor briefing on Friday morning.


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