For the nine months ending in June, NCB Financial Group’s net profit climbed by $12 billion, or 86%, to $25.9 billion.
NCB’s net operating income for the quarter was $105.6 billion, up $13.8 billion or 15% from the same time last year.
The financial behemoth claims that this was primarily fueled by an improvement in net operating income as a result of rising net revenues from the life and health insurance, treasury, and payment services segments, as well as from consumers and small and medium-sized businesses.
The $80.1 billion net result from banking and investment activities was an increase of $6.4 billion or 9% from the previous year.
The NCB directors voted on Thursday not to award an interim dividend despite the improved performance.