NCB Financial Group raked in nearly $11 billion profit for the first half of its financial year which ended on March 31.
This was a 15 per cent increase over the $9.4 billion reported during the previous year - as a result, revenue grew by 23 per cent or $6.6 billion to $35-point-7 billion .
This was primarily as a result of improvements in gains from foreign currency and investment activities which grew by $3.5 billion dollars or 97 per cent.
NCB says this was against the background of improving domestic macro-financial conditions, a stable exchange rate and declining interest rates.
Net interest income increased by $1.3 billion or 9 per cent driven by the consolidation of NCB's newest subsidiary, Clarien Group.
Net fee and commission income grew by 11 per cent or $749 million mainly as a result of higher transaction volumes for point of sale and e-commerce channels, increased investment banking and pension fee income as well as the consolidation of Clarien Group.
.jpg)
All feeds
