Saudi Hollandi Bank, Saudi Arabia's oldest lender, beats analyst expectations after posting a 33 per cent rise in fourth-quarter net profit on the back of a rise in operating income.
The lender, partly-owned by Royal Bank of S
Saudi Hollandi Bank posted a 28.1 per cent increase in second-quarter net profit on Sunday, boosted by higher operating income.
The kingdom's oldest bank and its seventh-largest listed lender by assets made a net profit of 480
Banque Saudi Fransi, the lender part-owned by Credit Agricole, posted a 12.9-per cent drop in its third-quarter net profit that missed analysts forecasts, it said in a bourse statement on Wednesday.
The kingdom's fifth largest
Leading Saudi banks, including HSBC affiliate SABB and the kingdom's biggest Islamic lender Al Rajhi Bank, today reported impressive profits for the first quarter of this year.
SABB posted a 13.7 percent rise in first-quarter net profi
Saudi Hollandi Bank said its fourth quarter net profit edged up 2.7 per cent on the year to SR231 million ($61.6 million) due to a fall in operating expenses, in a statement on Saturday.
However, earnings fell 22.7 per cent compared to the
Saudi Arabia's financial regulator has approved a 33 percent capital increase for Saudi British Bank (SABB) and a 20 percent hike for Saudi Hollandi Bank, it said in separate filings on Sunday.
SABB, an affiliate of HSBC, will raise its ca
Saudi Hollandi Bank, partly owned by the Royal Bank of Scotland, will ask shareholders to approve a capital increase through bonus shares to help support the bank's growth, it said in a regulatory filing yesterday.
The 20-per cent increase
Four major Saudi banks reported quarterly profits that met or beat analysts estimates on Monday, in a sign the kingdom's lenders have begun to rebound from a punishing bout of a bad loan provisioning.
Saudi Arabia's Riyad Bank posted a 9 per cent rise in second-quarter net profit, the lender said in a bourse statement on Monday. The bank made a net profit of 836 million riyals ($222.9 million) in the three months to June 30.
Saudi Hollandi Bank, partly owned by Royal Bank of Scotland, reported a 3.5 percent rise in first-quarter net profit, but missed forecasts.
Hollandi was among three banks reporting higher quarterly profits or returning to black on Sunday,