National Commercial Bank Lowers Second-Quarter Provisions 33%

National Commercial Bank, Saudi Arabia’s largest lender, lowered provisions for bad loans in the second quarter by 33 percent.

Provisions dropped to 407.9 million riyals ($108.8 million) in the three months ended June 30, from 612.9 million riyals a year earlier, according to the bank’s financial statement published in al-Eqtisadiah newspaper today.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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